Opening a new front in the U.S. crackdown on offshore tax evasion, federal investigators late Monday won court approval for a summons that will force a Caribbean bank to turn over account data for wealthy American clients.
Investigators planned to serve the summons on Wells Fargo, the San Francisco-based bank that maintains correspondent accounts for CIBC FirstCaribbean International Bank. FCIB is a Barbados-based bank with 18 branches in the Caribbean but no operations in the U.S.
The Justice Department said a federal court in San Francisco approved the summons, which requests account data for Americans who had CIBC accounts from 2004 through 2012.
Dear IRS
#1600 Pennsylvania Ave. 535 individuals voted unanimously to allow themselves to commit insider trading, so the Internal Revenue Service and SEC are doing what about this?
Sincerely
No confidence
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