Imperialist Justice Dept. Discriminating Against Another National Banking Group

Not the Caymans!

You're forgetting about another key part of your heritage.

First, they came for the Swiss banks for Swiss banking, and the Swiss whined a little but eventually rolled over. Now, they come for the Cayman Islands banks, for being Cayman Islands banks. Who will speak for the oppressed offshore tax havens next to find themselves under the starred-and-striped boot?

Two financial firms based in the Cayman Islands have pleaded guilty to helping U.S. taxpayers hide more than $130 million in offshore accounts, the Justice Department said Wednesday….

The two firms agreed to pay more than $6 million in fines and will provide U.S. authorities with the files of up to 95% of their U.S. clients who sought to hide assets or income from the Internal Revenue Service.

The guilty pleas are “the first convictions of financial firms outside Switzerland for conspiring with U.S. individuals” to evade taxes, said Preet Bharara, U.S. Attorney for the Southern District of New York.

We trust that the 5% who aren’t being outed will be covering those fines, and thensome.

Firms Plead Guilty to Helping U.S. Taxpayers Hide More Than $130 Million [WSJ]