OFFSHORE BANKING - KEEPING YOUR FINANCES PRIVATE Special Report #3 (Secrets Big Brother Doesn't Want You To Know About!) by Grandpa

Author:Grandpa [Grandpa]
Language: eng
Format: epub
Publisher: Unknown
Published: 2012-05-16T16:00:00+00:00

A LITTLE KNOWN LEGAL TRAP THAT GOVERNMENT AGENTS MIGHT TRY TO TRICK YOU WITH

While we’re on the subject of keeping your mouth shut, the following advice, that we first printed back in 2006 in the first edition of Bye Bye Big Brother , applies mainly to USA readers. It is very relevant as of 2011 to those in all countries who already have undeclared offshore bank accounts, and are now contemplating whether to “fess up” and take advantage of one of the “amnesty” deals on offer.

Basic rule: Never, under any circumstances, answer questions put to you by any government agent – unless you have a competent lawyer at your side.

In the USA there is a section in the federal code, referred to as ‘1001’ by legal eagles. This law makes it a crime to lie to a federal agent. The agent doesn’t have to put you under oath or even have to tape the conversation. All he or she has to do is produce handwritten notes that indicate that you made false statements.

There is a big risk that you will mis-speak, or that the government agent will mishear. Or maybe there is an ambiguity that the agent chooses to interpret in an unfortunate (for you) direction, based on his handwritten notes.

‘Lying to a federal agent’ does not have to mean telling lies in an important criminal cases or when you are under arrest. IRS officers are federal agents too.

There’s always the possibility that you might be tempted to shade the truth a bit when an IRS agent is quizzing you about that tax deduction you took for a trip to Vegas. So our advice to you is: Keep Your Mouth Shut!

Let`s repeat that in other words. To be on the safe side, when confronted by a federal agent, don’t say anything at all. Well, not exactly. You need to ask them to sign a letter so that they can’t later lie about what happened. Keep reading.

Take, for example, the highly publicized case of lifestyle guru Martha Stewart, who was jailed in 2004. Her case reflects what has happened to thousands of other less high-profile cases – normal, respectable, honest businesspeople. Maybe friends of yours were already caught in the net.

She was caught out by rule 1001. She was convicted of lying about the reason she sold her shares in a biotechnology company.

She said she sold the shares because they had fallen to the price where she had told her broker to sell. She claimed that she recalled having placed a ‘stop loss’ order with her broker. The government argued (and the jury accepted) that she sold only because her broker passed on some inside information that the stock was going to plunge in the next couple of days. She lied, said the Federal Agent.

True, her stock trade, one of many she had made, had a smell of illegal ‘insider trading’ about it. But, the prosecutors did not charge her with insider trading. They only charged her with lying about it, under ‘1001’.

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