Word: liechtenstein
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...first time the German government struck such a deal. Two years ago, Germany paid an informant $6.3 million to obtain stolen bank details for several hundred members of the LGT banking group who were suspected of evading taxes by putting their money in bank accounts in Liechtenstein. That deal reportedly helped the government recover $250 million in lost revenue by the end of last year. One of the suspects, Klaus Zumwinkel, the former head of Deutsche Post, was convicted of tax evasion and received a two-year suspended prison sentence and a fine of $1.4 million...
...conflicting accounts. Justice officials claim that Birkenfeld was not completely forthcoming about his own dealings with particular clients, especially his biggest, the billionaire Olenicoff. Even as he was talking to the feds, they say, Birkenfeld was secretly advising the real estate mogul to move his money from UBS to Liechtenstein banks. (Olenicoff eventually settled for $53 million in tax and penalties...
...anonymous source. In recent months, Swiss banking giant UBS agreed to turn over the names of thousands of its American clients to the Internal Revenue Service, as the federal government attempts to crack down on tax evasion. Caspersen held a bank account with LGT, a private bank in Liechtenstein. The government of Liechtenstein has also agreed to reveal names of wealthy American clients, an anonymous individual familiar with the investigation told the Times. It is unclear whether Caspersen’s name was mentioned in this list. According to the Times’ source, federal authorities have placed liens...
...George W. Bush Presidential Library Foundation, chaired by former Bush Commerce Secretary and Texas oilman Donald L. Evans. Members include Los Angeles investment banker Brad Freeman; Dallas hotel developer and former Bush ambassador to Costa Rica Mark Langdale; and Cincinnati-based businessman and Bush ambassador to Switzerland and Liechtenstein Mercer Reynolds...
...modern way of burying a treasure chest of cash, banking experts say, is to have your own bank that is funded by nameless wire transfers to Switzerland, the Caymans, Liechtenstein. It's still unclear as to whether Madoff had his own bank, but there is always the ever popular method of hidden safes and multiple, anonymously managed safety-deposit boxes loaded with cash, or even better, "bearer bonds," an old-fashioned but effective tool that is as good as cash and can be presented to banks by anyone bearing them - no questions asked. Today they are used frequently in Central...