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Location : Ether-Sphere Job/hobbies : Irrationality Exterminator Humor : Über Serious
| Subject: Wealth Advisors Coerced Into Federal Snitches Mon Jun 29, 2009 2:13 am | |
| Recently Gideon Rothschild, (below) partner in the New York law firm of Moses & Singer LLP and a recognized leader in estate planning, (as well as a long time member of the Sovereign Society Council of Experts), wrote an article in Trusts & Estates that got my attention.
Gideon said: "The feds may soon try to turn wealth advisors into snitches."
I have worked with Mr. Rothschild on a few occasions over the years and I respect his judgment. He is listed in Chambers USA (2009) as one of the nation's leaders in wealth management, is among the "Top 40 Tax Advisors" named by CPA Magazine, In Citywealth's Leaders List (2009) he appears among leading international lawyers who are "generally acknowledged to possess a sterling reputation for expertise in their respective field."
An Expert's Warning
In the article Gideon warned: "The world’s financial system is getting tied more tightly together -- making it far more difficult to hide money anywhere in the world. And, take note, some countries are forcing wealth management advisors to report on their clients. "
He added: "Many types of wealth advisors soon may be required -- that’s right, required -- to report clients who are evading taxes. Sometime later this year, guidelines, and maybe even laws, will be issued in the U.S. requiring 'gatekeepers' to report suspicious clients to the federal government."
Conscripted Gatekeepers
"Gatekeepers" the law says are anyone whose position might allow them to help people launder money. That includes lawyers, accountants, trust company service providers, casino owners, jewelers and just about any professional who helps people form trusts, foundations, LLCs or corporations.
More: http://baumanblog.sovereignsociety.com/2009/06/wealth-advisors-as-federal-snitches.html |
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