Financial Transparency Coalition

ALEXANDRIA, VA. -- A former Nigerian telecommunications executive testified Wednesday that his former business partners delivered $100,000 to then-Rep. William Jefferson after the Democratic congressman requested a percentage of profits and revenue in a joint venture with a Kentucky technology company he was promoting.

Chairman Dodd, Ranking Member Shelby, members of the Banking Committee. I'm pleased to be here today to testify about the Administration's plan for financial regulatory reform.

The chairmen of U.S. House and Senate tax committees have asked the IRS to cease efforts to collect penalties from small businesses who bought certain employee-benefit plans branded tax shelters by the IRS.

A bill to ensure that persons who form corporations in the United States disclose the beneficial owners of those corporations, in order to prevent wrongdoers from exploiting United States corporations for criminal gain, to assist law enforcement in detecting, preventing, and punishing terrorism, money laundering, and other misconduct involving United States corporations, and for other purposes.