Monday, 26 November 2012


"You won't be feeling so confident, my dear Sir, when you
are clutching the bar at the Old Bailey, under

Congratulations on your expose “The sham directors – Guardian 26 Nov 2012” who “…conceal the movement around the world of trillions of dollars.” But, to protect innocent, trusting, na├»ve, tax-paying Guardian readers, do please check your tax-lawyers’ erroneous advice.

Your report wrongly implies that inserting nominee directors “…is not illegal under UK law”; and you use “tax avoidance” instead of “evasion” which also implies legality. Only a great fool, or a rogue, would say that the real owners of the trillions of dollars, which are, necessarily, gouged from major (high tax) economies, actually hand cash-asset-control to nominees – though they have to claim to give up control. Most real owners conceal their identities and falsify their tax-returns to evade (illegal) not to avoid (legal) paying tax.

The professional tax-planning test for individual or corporate clients’ protection is simple: “Have you been advised to lie to tax authorities – e.g. I have no control over these funds – Or, I really do live in Malta not London?” If so, you have crossed the line into evasion and crime. Hiring a nominee as an alias for your directorship (you are legally “a director by whatever name called”) might possibly slither onto the legal side of the crime of Fraudulent Misrepresentation, in the opinion of a bent UK judge who also uses tax-havens, but unless you declare the trillions of dollars of transactions on your accounts and tax-returns – you are guilty of lying, false accounting and of tax-evasion. GO DIRECTLY TO JAIL. DO NOT PASS GO. DO NOT COLLECT £200 POUNDS.

The good news for the major economies is that all tax-evasion (false accounting /fraudulent conspiracy) is legally reversible without time-limit and evaders are in law Guilty Until Proven Innocent, so the “trillions of dollars” can be rapidly repatriated to their source nations, via Back-Duty-Tax-Assessments. IBM computers (used at almost all banks), Military Intelligence and the Secret Services know where the assets are and who really “owns” them.

Noel Hodson
Founding Partner,
McVeigh Hodson Blackstone Franks,
Accountants and Tax-Experts       

NB - All good tax-planners guarantee their advice and if it proves incorrect can repay clients' taxes and costs via their professional indemnity insurance - PII.

PS - To avoid prison: avoid incontinent lying and gross falsification; which for example includes:

1) Outrageous Transfer Pricing - Since 1910, staging-post-invoices that dump profits in your tax-haven company have been "false accounting" and hence criminal. e.g. If you buy micro-chips in Korea for $2 and sell them in New York for $22, it is illegal to create false invoices claiming you buy them from (your own bearer-bond off-shore firm) in Cayman at $23 each and lose a dollar on every sale in New York - which gives you a US tax loss and entitles you to gouge $23 from New York's working capital. Any variations on such schemes requires two sets of books - (1) the real business that makes profits (2) the pretend business. THIS WAS, IS AND WILL ALWAYS BE ILLEGAL, FALSE ACCOUNTING.

2) Back-to-Back Transfers - These are popular in commodity broking, banking, loans and investment etc. transactions, enabled by an International Bank or Market; where your New York transaction is a purchase of Greasy Wool Top Futures for $500,000, sold at $1,500,000, but, the gain is suddenly wiped out by a second purchase via your co-operative broker for $2,000,000 which, through bad luck, bad timing or gross negligence visibly seems to be sold via the Market for $100,000 - losing overall $900,000 in New York - which you claim US loss-relief on; while, in a faraway land, in a tax-haven company run by your friend (you actually) - the $100,000 contract sells on the New York market for $2,200,000 making an off-shore, non-taxable profit - enabling you to pick up a fat tax refund from your US neighbours and to gouge out another $2.2M of New York's fast dwindling capital. A WHOLLY ILLEGAL FRAUDULENT CONSPIRACY.

3) Your salary disguised and tax free - Payroll taxes are onerous on employees and employers. As an owner/director, paying yourself is particularly galling in tax terms. So, for your New York restaurant chain you accept invoices from a Bermuda Company (Pssst... its actually you again) for interior design for $1 million. The extra $1 million is paid annually to a Bermuda bank, such as HSBC, which issues you with a global DEBIT card in your Bermuda Design Company Name - which allows you spend it anywhere on Earth - including New York. ALL VARIATIONS ON THIS THEME ARE ILLEGAL. The same constraints apply to false dividends, paid to an offshore "holding company" with shares in your business - or "management charges" from your alleged HQ full of "managers" in Jersey, Channel Islands - or paid to your allegedly estranged wife, child or pet dog living in Switzerland or Monaco.  The $1M is gouged out of New York's capital base; plunging your country deeper into debt. The siphon of capital is beginning to add up, isn't it? However - your nation can always borrow from The Free Markets, can't it? - Whoever they are? Oh - but that's you again - now an offshore Bond's investor.

4) Once you embark on false accounting - as ENRON did - creating a maze of funny-money corporations under coconut palms on tinpot islands that pretend to be staffed, manned, crammed with high powered executives, allegedly providing goods, services, Brand Names, Patents, Loans, etc etc (the list of clumsy bad obviously bent silly ideas is endless) - you not only deprive your country of tax revenues needed to build and maintain the infrastructure that your genuine real commerce relies on for its survival - but you siphon off, gouge out massive amounts of capital that ought to be recycled, reinvested, utilised in your home town - to create jobs and new industry. Some villainous bankers, brokers, lawyers and accountants will charge you massive fees for helping you with all the false accounting. The "expert advisers" will disappear the moment the IRS or HMRC seriously call (the unbribable, heavy revenue officers) with searching questions. WHAT YOU INDIVIDUALLY OR CORPORATELY ARE DOING IS ILLEGAL. IT IS NOT ONLY VERY EXPENSIVE WHEN YOUR SCHEMES ARE REVERSED AND RETROSPECTIVELY TAXED - BUT YOU MIGHT GO TO PRISON.  



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