“Pius Kampfen, a retired Swiss banker living in California, became a US citizen in 2006, has agreed to pay a penalty of 1.5 million on a high account balance of $2,930,785. Tax owing to the US was minimal ($4,945 according to the government’s reckoning). The penalty is thus 300x the damage to the government in uncollected taxes. Jack Townsend comments, ‘With the indicated tax loss, and the reference to the tax loss table for setting the base offense level, the sentence seems to be not out of line with other sentences. But, I wonder why the Government would have prosecuted the case with such a small tax loss. Certainly, probably his role as a Swiss banker himself probably was in the mix.'”
Related posts:
Rancher, armed militias win standoff with Feds; govt returns cattle
Obama would rather look stupid than interfere with the flow of cash to drug-war profiteers
72yo Grandma Shot Dead as SWAT Raided Her Home For Marijuana
Ex-Reddit Engineer Is Building a Decentralized Reddit
Texas: Court Finds Breath Mints Are Evidence Of DUI
Bitcoin Has Gone On An Insane Surge
Soros' Miraculous Escape From Being Crushed By Swiss National Bank
Chamath Palihapitiya, former Facebook executive speaks about Bitcoin
Bitcoin Revolution Spreads to Togo
Four arrested during protest of nudity ban in San Francisco
Gun Violence in the USA Has Declined for 20 Years
New York: Judge Rules Against Use Of X-Rays During Traffic Stops
Colorado Republicans ask for flood relief after voting against Sandy aid
Venezuela Surpasses Weimar: Hyperinflation Expected To Hit 1,000,000% By Year End
#DNCLeaks 'disappears' from trending news as WikiLeaks emails released