U.S. Brings Forfeiture Action Against U.S. Accounts Involved in Undeclared Swiss Accounts

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Tuesday, July 1, 2014
Author: 
Bruce Zagaris
Volume: 
30
Issue: 
7
Abstract: 
 On April 8, 2014, the U.S. Attorney for the Southern District of New York filed a complaint seeking to forfeit $12,234,646.79 presently held in an IRS seized account located in Manhattan.  The money allegedly was part of a conspiracy to commit both mail fraud (18 U.S.C.§ 1343) and wire fraud (18 U.S.C. § 1343).  The action appears to break new ground in the efforts of U.S. law enforcement to combat international tax evasion by seizing and forfeiting the money prior to adjudicating the tax cases.[1]