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Source: AP
German authorities launched dawn raids on the homes of over 200 suspected tax cheats Tuesday, acting on information gleaned from a CD containing the confidential account details of thousands of Swiss bank clients.
The top tax officials in the southwestern state of Rhineland-Palatinate said he expected to net some 500 million euros ($654 million) from the data, which German investigators bought for €4 million ($5.2 million) after deeming it "authentic and of excellent quality."
"This amount is testament to the high criminal energy used to hide capital gains," Carsten Kuehl, the state's finance minister, said in a statement.
Kuehl didn't say who had sold the CD containing the data or which Swiss banks were involved in the case.
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German authorities launched dawn raids on the homes of over 200 suspected tax cheats Tuesday, acting on information gleaned from a CD containing the confidential account details of thousands of Swiss bank clients.
The top tax officials in the southwestern state of Rhineland-Palatinate said he expected to net some 500 million euros ($654 million) from the data, which German investigators bought for €4 million ($5.2 million) after deeming it "authentic and of excellent quality."
"This amount is testament to the high criminal energy used to hide capital gains," Carsten Kuehl, the state's finance minister, said in a statement.
Kuehl didn't say who had sold the CD containing the data or which Swiss banks were involved in the case.
Read More...
