Criminal court filings in California and Florida highlight the ways in which UBS -- and other banks -- worked with California real-estate developer Igor Olenicoff to establish shell companies used to avoid paying taxes.Tax thief UBS is vice-chaired by Sen. Phil Gramm (R-Texas) while he is also co-chairing John McCain’s presidential campaign.
For more than a decade, between 1992 and 2007, Mr. Olenicoff moved nearly $500 million between banks in London, the Bahamas, Switzerland and Liechtenstein using the names of at least six corporate entities, including ones named Sovereign Bancorp Ltd., National Depository Corp. Ltd. and Guardian Guarantee Co. Ltd. [...]
About a week later, in what appears to be one of the first transactions with UBS, Mr. Olenicoff instructed Barclays PLC to move $89 million to an account at UBS. More transfers took place in 2002, including the movement of $60 million to a Danish shell corporation with an account at a Liechtenstein bank that court documents don't identify.
Igor Olenicoff was a generous supporter of Mitt Romney and is #286 on the Forbes 400 list of rich folk, advertising the usual donations to orphanages to cover his larger crimes.
Republicans don't like paying taxes, but with Iraq they have proved they love wasting the taxes you pay.