Tax Evasion, Billionaire | featured news

Billionaire hedge fund manager Paulson Leads Funds to Bermuda Tax Dodge Aiding Billionaires

Last year, about $450 million belonging to top executives at billionaire hedge fund manager John Paulson’s New York firm took a quick round trip to Bermuda. In April, the executives sent the money to a reinsurance company that they’d set up on the island 650 miles off the North Carolina coast. By June, the Bermuda company, which has no employees and sells far less reinsurance than the industry norm, had sent all the cash back to New York, to be invested in Paulson & Co. funds.

 

Former Italian Prime Minister Berlusconi gets 4 years for tax evasion

Silvio Berlusconi

A court in Milan Friday convicted former Premier Silvio Berlusconi of tax fraud and sentenced the media mogul to four years in prison, his first prison sentence in years of criminal probes. The 76-year-old billionaire businessman -- who just two days ago said he would not run in Italy's spring election -- is expected to remain free until the appeals process is exhausted. In Italy, cases must pass two levels of appeal before verdicts are final.

 

Koch Employee Says Billionaire Kidnapped & Interrogated Him

Billionaire William Koch imprisoned and interrogated one of his executives at a secluded Aspen ranch, under a sheriff's guard, because the executive suspected Koch's companies of tax evasion, the employee claims in Federal Court.

 

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