Fallout From The Liechtenstein Bank Scandal

Law360, New York (March 25, 2008, 12:00 AM EDT) -- The world's press is flooded with reports that stolen records from LGT Group, the Liechtenstein bank, have been purchased for as much as $7.4 million by the tax authorities of several nations including the United States, Germany and the United Kingdom.

The records reportedly contain data on 1,400 LGT foreign clients, including foundations with more than 4,500 beneficiaries. Despite outrage over the propriety of tax authorities' paying for stolen information, law enforcement is expected to use this information to pursue the holders of (alleged) secret accounts...
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