A leading Israeli bank has agreed to pay the US government $400 million compensation for helping US customers evade tax.
Bank Leumi confessed to advising 1,500 wealthy Americans how to evade taxes over several years.
The bank ran secret meetings in hotels, restaurants and other places away from offices in New York, Los Angeles and Miami to cover up their business and to avoid leaving a paper trail and witnesses to the subterfuge.
The fines and compensation include a $157 million settlement concerning tax issues with US customer accounts in the bank’s Swiss branch.
The bank’s executives have also agreed to meet strict governance agreements laid down by the US Justice Department.
FATCA pledge
Leumi will designate a liaison officer responsible for working with the US Internal Revenue Service (IRS) and an officer at each branch who is responsible for supervising reporting under the Foreign Account Tax Compliance Act (FATCA).
FATCA demands the bank registers as a compliant organisation and makes annual reports on the financial affairs of US resident taxpayers controlling bank accounts and investments with a balance of $50,000 or with a limit of $200,000 if they are a US expat.
Under US tax law, expats must report their worldwide income each year to the IRS.
The bank has also had to agree not to open accounts controlled by US customers unless the customers pledge to report their financial affairs to the IRS and not to close accounts controlled by US customers who have not reported their assets.
Instead, the bank must disclose these assets under the FATCA regime.
Tax investigations
The US is also investigating alleged tax evasion by Israel’s Bank Hapoalim and the Mizrahi Tefahot Bank.
“This investigation has been underway for three years and has at last come to a satisfactory conclusion,” said a US Treasury Department spokesman.
“Along with action against dozens of Swiss banks, we hope the result shows out resolve in dealing with tax evasion wherever it goes on in the world.”
FATCA was introduced in 2010, but only requires foreign financial institutions to report the details of American controlled accounts from July 2014.
Among the accusations against the bank and several subsidiaries was a claim that employees helped US customers shield the true nature of the financial income from the US tax authorities by setting up bogus companies in Belize.
Swiss Bank
Accounts. Jan.. 2015.
Is your monies safe
in these accounts —- definitely NOT.
Would you get your
money back if every body decided to withdraw all their accounts –
NO WAY.
Economic Experts
say that there would only enough money to repay 50% of their clients.
Are you going to be
in the 50% — that loose your money.– Get it out NOW.
2012 — – June.
— Published in Anglo INFO .Geneva.— USA Trust Fund Investors were
sent false and fraudulent documents by Pictet Bank.Switzerland. in
order to collect large fees. ( Like MADOFF) —Even after the SEC in
the USA uncovered the fraud Pictet continued to charge fees and drain
whatever was left in these accounts. Estimated that $90,000,000
million lost in this Pictet Ponzi scheme.
2012 – – – July.
— De – Spiegel. — states – Pictet Bank uses a letterbox
company in
Panama
and a tax loophole involving investments in London to gain
German
millionaires as clients.
2012
– – – August —- German Opposition Leader accuses Swiss Banks of
“organised crime.”
All
the fines that crooked Swiss banks have incurred in the last few
years exceeds £75.Billion.
It
is also calculated that the secrecy ” agreements” with
regards to tax evation by their clients will cost the banks another
£450 Billion.( paid out of your monies.)
The
banks are panicking — the are quickly restructuring their banks
—- from partnerships —
to
” LIMITED COMPANIES.” —– this will probably mean that
in the future — they could
pay
you only 10% of your monies ” if you are one of the lucky ones”
—- and it be legal.
Google
—- The Crimes of —- Pictet & Cie Bank.
Sods —–
Law.
Jan
.—- 2015.
For almost two
decades we have strived to get justice for the injustice we have
suffered at the hands of a world renowned bank— PICTET & CIE.
BANK.
Two yorkshiremen
both running their own small family businesses trying to resolve the
problem by taking all the correct legal procedures to recover their
monies.
The matter was
raised in Parliament – twice– the FSA investigated the matter
concluding that PICTET had rogues operating in their London Bank —
but the rogues had left —saying no one left to prosecute.??? —–
so there.
We then
approached the Financial Ombudsman Service. (FOS) — our case was
dealt with by seven different people —- then our numerous E-Mails
were ignored — nobody would speak to us ——-so there.
We then asked the
SFO ( Serious Fraud Office.) to investigate our case —- the
criteria of our case ticked all their boxes. — we were instructed
not to send them
any
documents/evidence.—— in fact they wrote to us advising us to go
to the Citizen’s Advice Bureau.(CAB.)
Richard Alderman
the SFO boss —- who responded to our letter was the same man who
would not investigate the “ Madoff” scandal or the “Libor”
fiasco.
The MP’s
committee —- said he was sloppy— and the SFO was run like “
Fred Karno’s Circus” —– it was an office of fraud.—– so
there.
Our M.P.
approached our local Chief Constable to investigate—– he was
called—- Sir Norman Bettison— Chief Constable of West Yorkshire
Police —- a force that made “ Dad’s Army” look like the S.A.S.
They were inept – corrupt —malicious — from top to bottom. We
were criminally dealt with by the Forces Solicitor—- the Head of
the Economic Crime Unit —-and the Chief Constable —– so there.
We were then
advised to pass our complaint against West Yorkshire Police to the
I.P.C.C. – which we did — they advised us to make our complaint
to —- the West Yorkshire Police — we did with reluctance — all
we got was abuse and obfuscation. —– so there.
Sir Norman
Bettison —- The Forces solicitor— and the Head of the Economic
Crime —- have all been removed from their posts and facing criminal
allegations.
—— so there.
We even sought
justice through the Courts — culminating in a visit to the Court of
Appeal-London.— On leaving the Courts of Appeal that day our
barrister a “rising star” informed us — that if that was
British Justice then you can keep it. He quit the law and moved to
Canada —– so there.
A few years later
we learned that one of the judges ( Lord Justice.) in our case at the
Court of Appeal was related to a senior executive of the Pictet Bank
—–so there.
The Ministry of
Justice passed our case to Lord Myners to investigate — we would
rather have had Mickey Mouse or Donald Duck do it. — to this day we
don’t know
—whether he did
anything or not —- probably not — seeing that his wife was on the
Pictet Prix Board.
Pictet & Cie
.Bank — voted private bank of the year 2013.
Ivan Pictet —-
Voted banker of the year 2012. —- the senior partner — lied on
numerous occasions and had documents destroyed — also said genuine
documents were forgeries. —– so there.
Ivan Pictet in
Oct. 2013 —- Given the Legion of Honour — but saying that —-
honours were given to Hitler — Eichmann — Mussolini —Franco
— he’s in fitting company. —-so there.
MONTY
RAPHAEL.Q.C. — Peters & Peters.London. They were the banks
lawyers.
Monty
Raphael.Q.C. along with Ivan Pictet withheld crucial documents
requested by the High Court —- the FSA —- and the police Fraud
Squad. —-so there.
Monty
Raphael.Q.C. became an Honorary Queens Counsellor in March. 2012.
Monty
Raphael.Q.C. became a Master of the Bench in Nov.2012.
An expert in
Fraud —the Doyen of Fraud Lawyers. —– so there.
This says a lot
about Banks — and their lawyers –the consensus of opinion is that
they are highly paid “crooks” —- no wonder they voted Ivan
Pictet banker of the year. — and Monty Raphael a Queens Counsellor
– “crime does pay”?
It appears that
crimes in the “establishment.” are honoured by their peers.
“HONOURS
AMONG THIEVES.”
Full Story.—-
“google ”
Insert.—– The
Crimes of —– Pictet & Cie Bank.
or
insert
Ivan Pictet/
Monty Raphael Q.C.
The Death of the Swiss Pictet & Cie.Bank.
Feb.2016.
Once called the Rolls Royce of Swiss Private Banks , a member of the Swiss Private Bank Association. An association that has shrunk by 25% since the financial crash. The member banks Wegelin and Hottinger were lost through bankruptcy.
Pictet & Cie Bank and Lombard Odier Bank seeing the collapse of both Wegelin Bank and Hottinger Bank were advised to become limited liability companies to avoid the same fate has both Wegelin and Hottinger. Other members are also considering this course of action.
Pictet Bank by becoming a Limited liability company thus relieves the bank and its seven partners of their two hundred years unlimited liability. This basically means that the seven partners have been advised that their own monies invested in their bank is at risk. I’ll bet they haven’t informed all their investors of the risks.
Pictet have a long list of outstanding litigable offences against them , which if they were outside the banking fraternity would be criminal and result in major prison sentences. It is quite obvious why Pictet do not have a bank in America. They have one in every other major financial centre. The reason being the USA they imprison corrupt bankers.
Ivan Pictet in particular operated like a modern day Don Corleone , being in positions of power ( Chairman of this and CEO of that.) a philanthropist with other peoples money . He even had an Auditorium Built in Geneva and named after him with monies illegally obtained. In 2013 he was given the Legion of Honour which was quite apt — seeing that Franco – – Hitler — Mussolini —- Himmler have one.
He was an exponent of the — bare face lie — he had crucial incriminating documents destroyed —– he said the bank had no involvement with MADOFF —- in fact they let Madoff con people then they stole the money off him. The lawyers in the Madoff case sued Pictet bank for $135 million dollars.
The Swiss newpaper the Anglo exposed a Pictet Ponzi scheme that robbed USA investors of some £90 million dollars.
They had the top lawyer in Britain take me to Court but one week before the case I let Monty Raphael Q.C their lawyer have sight of the evidence I was putting before the Court . I went to Court with my legal team — Monty Raphael.Q.C. never turned up. The judge was furious — my barrister suggested it was contempt of court.
Full Story —- Google —- ivan pictet/monty raphael.