Obama Administration to Prosecute Corrupt Bank Official

http://7thspace.com/headlines/383177/usdoj_bank_director_charged_with_hiding_foreign_assets.html

USDOJ: Bank Director Charged with Hiding Foreign Assets

WASHINGTON - A Boston venture capitalist and director at Boston Private Bank and Trust Company was charged with failing to report his foreign bank account and income to the Department of the Treasury. Principal Deputy Assistant Attorney General of the Department of Justice’s Tax Division John A. DiCicco, United States Attorney for the District of Massachusetts Carmen M. Ortiz and William P. Offord, Special Agent in Charge of the Internal Revenue Service (IRS) Criminal Investigation, Boston Division made the announcement today.

According to the criminal information and plea agreement filed today, from 2003 to 2008, Michael Schiavo, 53, of Westford, Mass ., held an account in his name at HSBC Bank Bermuda (formerly the Bank of Bermuda). In 2006, with the assistance of his business partner Peter Schober, Schiavo arranged to have income from a venture capital investment directed to Schober’s secret account at UBS AG in Switzerland. From there, Schiavo’s share of the investment, $99,273, was wired to his HSBC Bank Bermuda account. Schiavo knew that this payment was taxable income in the United States, but deliberately chose not to report it, or the interest income that accrued in the HSBC Bank Bermuda account, to the IRS. In so doing, Schiavo deprived the IRS out of $40,624 in taxes.

more at link...
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or more are likewise prosecuted, every last one of them. :patriot:

don't have a thing to worry about even though their BS has cost taxpayers billions if you count the bailout, the fraudulent practices, and the crippling stock/bond/insurance/CDA and similar garbage that's still going on unchecked.

Clearly only the little guys pay where Obama is concerned.