Disgruntled Tech In Liechtenstein Steals Banking Info On Tax Cheats; Turns It In For Rewards

from the good-or-bad? dept

Forget the disgruntled tech holding the city of San Francisco hostage. An even more interesting story of a disgruntled tech is coming out of the tiny European country of Lichtenstein. Apparently (who knew?) Lichtenstein is a favorite destination for money of rich folks looking to avoid taxes. It’s banking system is apparently quite secretive… except, of course, in the hands of a disgruntled computer tech. It appears that just such a tech, named Heinrich Kieber walked off with tons of data from Liechtenstein LGT Group, a bank owned by Lichtenstein’s ruling family. He then sold that data to a variety of countries to help those countries find and arrest tax cheats. This turned out to be quite lucrative for Kieber. For example, the US offers such “whistle blowers” 30% of whatever tax money they recover. Germany apparently paid him somewhere between $6 million and $7.3 million for the info. The guy’s lawyer insists he’s a whistleblower — while those exposed have a different word (or words) they think of when discussing Kieber.

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Companies: lgt group

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Comments on “Disgruntled Tech In Liechtenstein Steals Banking Info On Tax Cheats; Turns It In For Rewards”

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28 Comments
AJ says:

Thats great...

Irony is, he’ll probably make tons more money having been fired, than he would have ever dreamed about work there. I’m betting he’ll end up with a sizeable price on his head for his efforts. The kind of people that hide that kind of money probably have the means to make his life …. err.. difficult.

Anonymous Coward says:

Re: Numbered accounts

I don’t think that there are any jurisdictions where you can open a true numbered account. Most international banking regulations require that financial institutions ‘know their customer’ at some level. I know that even 15 years ago in Switzerland, it was pretty much impossible to get an anonymous numbered account. You could get one if a local lawyer vouched for you, but the lawyer was required to disclose your identity if there was a criminal investigation. Of course, there are probably shady jurisdictions where you can kinda do this, but to participate in the international banking system, they have to follow the rules to some degree.

The real and smart way to do this is to have shell or even real companies. If you have enough money where taxes are a real issue, then it’s far safer to have that money held by various companies, some of which could issue ‘bearer bonds’…

Besides, anyone who is trying to evade US taxes is pretty much a fool. Much better off holding ALL your assets in the US where there are innumerable tax loopholes vs trying to save 5% via some illegal scheme or be potentially subject to taxes in a high-tax bracket country. Unless, of course, your income is from illegal activities….

Huh? says:

Re: New Identity

Thats funny. You think some of the people affected by this aren’t powerful government officials from within these governments or at least good friends with powerful government officials. The people who are charged with creating and enforcing the laws are most often the ones violating them. I don’t care if they send this guy to space station, he’s dead.

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