Financial Transparency Coalition

Tom Cardamone, Managing Director of Global Financial Integrity, continues his biweekly series of blog posts with TrustLaw, on efforts to repatriate government funds illicitly transferred overseas by corrupt government officials.  Based on new World Bank and United Nations Office on Drug and Crime data, as well as experiences with past repatriation attempts, he notes “This means, shockingly, that

WASHINGTON - A federal court in Newark, N.J., denied Schering-Plough Corp. a $473 million refund in connection with two transactions in which Schering-Plough sought to avoid taxation on $690 million in profits it repatriated from offshore subsidiaries into the United States.