Press Briefing on Automatic Exchange in the Principality

 December 16, 2016

Today, the Minister of State, with Mr. Jean Castellini, Minister of Finance and Economy and Mr. Thierry Orsini, Director General of the Ministry of Finance and Economy, held a press briefing on the automatic exchange of tax information. The press briefing followed the deposit with the OECD of the instrument of ratification of the Convention […]

“Clean hands”: Up to 5 years?

 December 09, 2016

2 years recommended sentence for Monegasque promoters and the Marzocco brothers; 3 years suspended for the mayor of Beausoleiland 5 years for Lino Alberti. Up to 5 years: the sentences recommended by two public prosecutors. Some weaknesses in the case make it difficult to understand the roles of the 11 people accused as reported Gregory […]

UBS Special: The political economics of populist politics

 December 08, 2016

Paul Donovan, Global Chief Economist of UBS Wealth Management shares his exclusive insight for investors in regards of the economic effect of populist politics. Investors have consistently underestimated populism. Now, with the election of Trump in the United States, there is a sudden reappraisal of what wider populism might mean. It seems likely that populism […]

“Clean hands”: the late Senator Vestri’s family accounts

 December 07, 2016

The Correctional Court uncovered accounts in Switzerland belonging to the late Senator-Mayor of Saint Jean-Cap-Ferrat. But they had trouble defining the exact origin of this “nest egg”. After looking at the Odéon tower, with its impressive heights, immense budget andalleged links to subversive commissions, the Sixth chamber of the Correctional Court of Marseille looked at […]

European Union: Proposal to require disclosure of tax avoidance schemes

 November 30, 2016

Proposals have been published by Slovakia, the current holder of the EU presidency, that would require financial institutions and tax advisors to disclose details of offshore schemes. The schemes falling within the scope of the proposal are those that have been designed with the intention of circumventing either anti-avoidance measures or the Common Reporting Standard […]

Julius Baer strengthens leadership in Monaco

 July 18, 2016

Alain Ucari will be promoted to Chairman of Bank Julius Baer (Monaco) S.A.M. In his new role, he will focus on further enhancing the governance of Julius Baer in Monaco and strengthening the Bank’s UHNWI client segment. He will be succeeded by Albert Henriques, who joins from HSBC and will become CEO of Julius Baer […]

Film fraudsters jailed for 27 years in £100 million tax avoidance scam

 June 24, 2016

Four men have been sentenced for a fraud disguised as a tax avoidance scheme, intended to defraud taxpayers of £100 million. The men falsely claimed to have invested £275 million in film projects then used offshore companies to cover their tracks, but HM Revenue and Customs (HMRC) exposed it as a scam. The scheme was created […]

£100m investment scam in Monaco, four British found guilty

 June 06, 2016

Four men have been found guilty of operating a fraudulent film investment scheme that was used to claim £100m of tax repayments. Four men have been found guilty of promoting and operating a fraudulent tax avoidance scheme, to defraud taxpayers out of £100 million. The men falsely claimed to have invested £275 million into film […]

Four found guilty of film investment ‘scam’

 June 03, 2016

Scheme used tax breaks to attract investment from football players and a pop star. Four men have been found guilty of operating a fraudulent film investment scheme that was used to claim £100m of tax repayments. The men were found guilty at Birmingham Crown Court after they were shown to have falsely claimed to have […]

Monaco based company in the Panama Papers

 May 30, 2016

The Offshore Leaks Database recently published a Monaco related connection regarding the infamous Panama Papers. The Panama Papers are 11.5 million leaked documents that detail financial and attorney–client information for more than 214,488 offshore entities. The documents, some dating back to the 1970s, were created by, and taken from, Panamanian law firm and corporate service […]

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