HSBC Client Admits Conspiring to Hide Bank Accounts From U.S.
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A New Jersey businessman pleaded guilty today to conspiring with five HSBC Holdings Plc bankers to hide his Indian accounts from U.S. tax authorities.
The plea by Vaibhav Dahake, 44, in federal court in Trenton, New Jersey, came four days after a U.S. judge in California gave permission to the Internal Revenue Service to serve a so-called John Doe summons on HSBC for information about Americans who may have banked in India to hide accounts from the IRS.