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10:20 Apr 30, 2008
German to English translations [PRO] Bus/Financial - Finance (general)
German term or phrase:Tarnkonto
Firma mit Tarnkonto in Schweiz und Notierung in Panama
GeorginaW Germany Local time: 19:16 Works in field Native speaker of: English PRO pts in category: 8
6 hrs confidence:
offshore bank account
Explanation: The defendants concealed income they earned from the sale of Global Prosperity products, in part by using bogus trusts, nominee entities and offshore bank accounts, into which they deposited portions of their profits.
Offshore Asset Protection: Corporations & Foundations and the Offshore Bank Account
They transferred funds from the offshore bank accounts back into the United States through wire transfers and the use of debit cards.
“People who promote or use bogus trusts, offshore bank accounts, and other fraudulent means to conceal income from the IRS can expect to face criminal prosecution and conviction,” said Eileen J. O’Connor, Assistant Attorney General for the Justice D