Deutsche Bank and Barclays allegedly aided and abetted tax evasion in the US

Deutsche Bank and Barclays PLC have once again made the news. Both financial institutions have been accused of aiding more than a dozen hedge funds to skirt an estimated $6billion in taxes in the US. These findings have been publicized by the investigating committee which published the Levin-McCain-Report in the US on July 22, 2014. The 93-page report examines how hedge funds with the help of financial institutions have paid fewer taxes on their sales returns of approximately $100billion from 1998 to 2013 than legally required.   ... →