Tax evasion spotlight a strong glare in Credit Suisse matter

Even prior to the strong glare emitted in connection with the recent arrival of an ex-Credit Suisse banker in the United States who says she is fully willing to cooperate with U.S. authorities in a major tax evasion matter, some people were undoubtedly perspiring.

And now that Rugg Meier has arrived and pleaded guilty in a federal court to what a Bloomberg article notes was “conspiring to help Americans hide income and assets from the Internal Revenue Service,” those people are likely sweating profusely.

The Americans Bloomberg refers to were — and still are, perhaps, in some instances — customers of Credit Suisse in Switzerland. The IRS is seeking detailed information on their overseas accounts and any evidence that might indicate tax evasion related to them. Tax authorities believe that Meier might be a veritable font of info-spilling information that could lead to criminal indictments on tax-related criminal offenses. She says she is willing to speak freely with American officials in hopes of their returned leniency in her sentencing outcome.

Reportedly, Meier personally handled scores of accounts for wealthy Americans she says were purposefully seeking to evade tax obligations owed to the IRS.

As we have noted in past select posts, there is nothing quite like such conduct to inspire the unbridled wrath of the tax agency. We stressed in a June 28 post entry, for example, that the IRS is a “jealous mistress” and that agency suspicion of illegal taxpayer conduct can quickly lead to “an official probe and, sometimes, a criminal indictment for tax fraud or evasion.”

Government tax probes focused upon fraud are often accompanied by an overwhelming display of enforcement power and resources. Any individual who is targeted in such an investigation might reasonably want to secure the proven assistance of an experienced fraud defense attorney without delay.