Ansbacher: The Inspectors' Caveat

national | miscellaneous | news report Monday July 08, 2002 09:52 by kahootz

It is important to bear in mind that a finding that any particular individual is a client of Ansbacher, is NOT a finding that that person has evaded tax.

As will be seen further on, persons who have been identified as clients did not necessarily have deposits with Ansbacher. Some such persons simply borrowed money from Ansbacher in the ordinary course of business, a transaction giving rise to no tax liability whatsoever. Others again established trusts to which they never transferred any assets.