Financial Transparency Coalition

WASHINGTON – Rodney K. Justin, a medical doctor from Woodleaf, N.C., was convicted yesterday of obstructing the internal revenue laws and of failing to file tax returns for several years, the Justice Department and Internal Revenue Service (IRS) announced. After trial in Winston-Salem, N.C., a federal jury convicted Justin of four felony counts of corruptly obstructing the administration of the internal revenue laws by sending fake financial instruments called "Bills of Exchange" to the Secretary of the Treasury in Washington, D.C., in purported payment of over $350,000 in taxes. The jury also convicted Justin of willful failure to file...

ZURICH (Dow Jones)--Swiss private bank Wegelin & Co. said Tuesday it is telling American clients to exit U.S. securities given heightened Internal Revenue Service scrutiny of tax dodgers.

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.

Off-shore hedge-fund investors could be the next target of the Internal Revenue Service and U.S. lawmakers after last week's landmark agreement between the U.S. and Swiss governments over secret Swiss bank accounts held by U.S. citizens.