Deutsche Bank AG
was named yesterday in an unsealed indictment against a lawyer trained in
accounting, as the unnamed foreign bank reportedly playing the key role in a
fraudulent tax shelter.
US federal prosecutors indicted John Ohle, accusing him of selling
questionable tax shelters under the name of Homer, the name for the lead
character of the television show ‘The Simpsons’, and helping wealthy Americans
avoid paying more than $103m(£68.5m) in taxes, New York Times reports.
Deutsche Bank, which has been under criminal investigation from the late
1990, was identified in the indictment as ‘Bank B’ which had arranged the
financial transactions Ohle sold, enabling wealthy clients generate bogus tax
losses of almost $420m.
Prosecutors have been examining Deutsche Bank for its role in two related,
abusive tax shelters which were sold to investors and involved collaboration
between banks, law firms and accounting firms.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay