A Man who Defrauds the American People out of Millions by Hiding Billions Gets Same PRISION Sentence a Person Convicted of Marijuana Possession 2nd offense!

 

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On August 16, 2013, the US Attorney for the Southern District of New York announced that Edgar Paltzer, a former partner at a Swiss law firm, pled guilty to conspiring with US taxpayers to hide millions of dollars from the IRS in offshore accounts, and to evade US taxes on those accounts.

He faces a maximum sentence of five years in prison.

 Paltzer conspired with US taxpayers to hide their Swiss bank accounts and the income generated there from the IRS. Paltzer, acting as a financial intermediary, helped US taxpayers maintain undeclared assets in Swiss banks by creating sham foundations and other entities to nominally hold the US taxpayers’ money in Swiss banks. 

After certain Swiss banks required that these US taxpayers close their accounts, Paltzer assisted these US taxpayers to move their accounts to other Swiss banks.

It was further reported that Paltzer helped repatriate funds to the US taxpayers from their undeclared accounts in Switzerland in a manner designed to avoid detection by US authorities.