Financial Transparency Coalition

WASHINGTON - Craig Shaber, an attorney from San Diego was arraigned today before Magistrate Judge Anthony J. Battaglia in that city on charges of conspiracy to defraud the Internal Revenue Service (IRS) and tax evasion for years 2000 to 2002, the Justice Department and IRS announced. On Aug. 14, 2009, Steven Wright, an accountant, pleaded guilty before U.S. Magistrate Judge Jan M. Adler to one count of tax evasion for the 2000 tax year. Wright admitted to evading $387,000 in taxes for 2000 to 2002.

Global Financial Integrity applauds Mr. Khuzami’s plan to reorganize the enforcement arm of the SEC and maximize the agencies powers in an effort to enforce laws already on the books that require corporations to be accountable for their illegal actions on the national and international level. The SEC has not provided additional detail on the five specialized investigative groups, but we hope that trade mispricing is included in the scope of the investigative group responsible for market abuses by big traders. Approximately 60% of global trade is now conducted within subsidiaries of the same multi-national corporation -...

July 22 (Bloomberg) -- China’s detention of Rio Tinto Group executives amid allegations of espionage and bribery should serve as a reminder to foreign companies that they may also risk prosecution by U.S. enforcement agencies, lawyers said.