• Indictment of Offshore Account Holder Portends A New Round of Aggressive Enforcement
  • February 24, 2011 | Authors: Scott D. Michel; Yemi Ojutiku; H. David Rosenbloom
  • Law Firm: Caplin & Drysdale, Chartered - Washington Office
  • On Wednesday, January 26, 2011, federal prosecutors in Newark, New Jersey, indicted Mr. Vaibhav Dahake on charges of conspiracy to defraud the United States by concealing bank accounts in India and the British Virgin Islands. This indictment appears to be the opening salvo in a new and likely aggressive enforcement action against Americans with undeclared foreign accounts, as well as their banks, bankers, and third party advisors.