(Photo: Jamaica Observer)
The United States Department of Justice (USDOJ) says two Cayman Islands affiliates of Cayman National Corporation have pleaded guilty in helping to hide over US$130 million from the United States International Revenue Service (IRS).
US Attorney for the Southern District of New York, Preet Bharara; Acting Deputy Assistant Attorney General Stuart Goldberg of the US Justice Department’s Tax Division; and IRS chief of Criminal Investigation Richard Weber on Wednesday announced the guilty pleas of Cayman National Securities Ltd (CNS) and Cayman National Trust Co Ltd (CNT).
The officials said the Cayman Islands affiliates provided investment brokerage and trust management services to individuals and entities within and outside the Cayman Islands, including citizens and residents of the United States (US taxpayers).
The original article can be found at jamaicaobserver.com