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(5) Was DOJ Truthful in Arguing for a Prison Term?
When sentenced, DOJ's prosecutor, Kevin Downing, said if Birkenfeld had turned in his former client, Igor Olenicoff, he wouldn't have been criminally indicted. In fact, prior to being indicted, he made full disclosure to the Senate Subcommittee on Investigations, the IRS and SEC, including about Olenicoff.
(6) Why DOJ's Treatment Is Unjust
UBS officials got off scot-free. Guilty bank clients got slaps on the wrist. Birkenfeld is the only one sentenced to hard time in prison, a shocking and unprecedented act.
Global Tax Havens
They're either a nation (generally small), city, state, or zone, officially called a "jurisdiction," offering low or no taxes, and, most often, none on foreign earned income. High net worth individuals use them to offshore their wealth or create shell companies, subject to jurisdiction taxes, but none to their home country.
Their main characteristics include:
-- no or low taxes on income and capital;
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