Financial Transparency Coalition

WASHINGTON — A former sand and gravel subcontractor was sentenced today to serve five years in prison and to pay a $5,000 criminal fine by U.S. District Judge Carl J. Barbier after being convicted by a federal jury of conspiracy and bribery in connection with a $16 million hurricane protection project for the reconstruction a New Orleans levee, the Department of Justice announced today. The project involved the Lake Cataouatche Levee, which is south of New Orleans.

Bloomberg -- If he had kept his mouth shut and his head low, Bradley Birkenfeld would be a free man today. He didn’t, so now the former UBS AG banker wears an electronic bracelet on his ankle and, beginning in January, will spend three years and four months in a federal penitentiary.

Tax Justice Network USA put out a number of recommendations for the US Government following the announcement of the settlement in the UBS case. In case you haven't seen it yet, TJN recommends that the US:

• Insist that the issue of cross?border tax evasion be on the agenda of the September G?20 Summit in Pittsburgh.
• Push for immediate international action to facilitate increased tax information exchange.
• Press for mandatory standards of bank behavior enforced by home governments that preclude assisting in cross border tax evasion.
• Use the UBS disclosures to prepare and serve additional "John Doe" summonses on other banks known...

U.S. government to get names of suspected American tax dodgers using Swiss bank accounts