As part of an ongoing Internal Revenue Service investigation into various gambling firms in the state of Belize, it emerged last week that Federal Prosecutors in the US city of Pittsburgh have filed papers to seize almost $5 million from corporate bank accounts in the country, according to the Pittsburgh Post-Gazette.
The Belize government ordered that the bank accounts of the firms involved be frozen at the behest of the United States last month, although the Belize Supreme Court has since ruled that the accounts be unfrozen until notification is received as to when prosecutors plan to file charges.
Neither the IRS, nor the US attorney’s office has been willing to comment on the case beyond the information given in the court filings.
A comprehensive report on the offshore gambling sector, including details of the regulatory regime in a number of top jurisdictions, is available in the Tax News Reports Shop at http://www.tax-news.com/reportshop
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