IRS pays whistleblower $104 Million for exposing wealthy tax cheats
Posted by Warm Southern Breeze on Tuesday, September 11, 2012
To know the truth is good, even though what may be revealed might not be good.
The über-wealthy & super-rich can run, but they cannot hide.
If anything, this perfectly illustrates the need for strong regulation.
IRS pays whistleblower $104 million
— Sep. 11 10:58 AM EDT
WASHINGTON (AP) — Lawyers for a whistleblower say the Internal Revenue Service has awarded their client $104 million for providing information about overseas tax cheats — the largest amount ever awarded by the agency.
Ex-Swiss banker Bradley Birkenfeld is credited with exposing widespread tax evasion at Swiss bank UBS AG. Birkenfeld himself served about two and-a-half years in prison for a fraud conspiracy conviction related to the case, which resulted in a $780 million fine against the bank and an unprecedented agreement requiring UBS to turn over thousands of names of suspected American tax dodgers to the IRS.
Birkenfeld’s lawyers said the award provides “104 million messages to whistleblowers around the world — that there is now a safe and secure way to report tax fraud.”