The IRS has issued a "John Doe" Summons with the U.S. District Court in SF, according to a DOJ news release here. Readers will remember that this was an opening salvo in the spat with UBS that led to a deferred prosecution agreement, $780 million payment to the U.S., and the turn over of a bunch -- 4,500 -- names. It is uglier and likely to get uglier for HSBC. And how about the other banks?
Just curious because I was thinking about it today. Why doesn't DOJ just get a John Doe grand jury subpoena and cut to the quick?
Update 4/8/11: The order allowing the John Doe Summons was granted (see here). (Editorial comment: I hope none of my readers are surprised.)
Read more »
No comments:
Post a Comment