A few quick thoughts
- Wow!!
- That's probably the end of that law firm. Damn, I would hate to be them. They'll likely be dealing with all kinds of panicked clients and other lawyers etc. They made a mistake somewhere. Some of their clients seem like very powerful, and very nasty types. I'd be fearful of retribution if I were them.
- The IT Director guy is a walking dead man.
- IT Directors at other large international law firms are getting urgent calls today and will be very busy in coming days and weeks.
- Politicians required to report investment holdings could be very nervous right now, particularly if the forms are signed under penalty of perjury etc.
- Some people might have a lot 'splaining to do, cuz bribes and kickbacks.
- Bribes and kickbacks are generally taxable income, not reporting them can be a big problem.
- Any foreign banks subject to cooperation/disclosure agreements may also have some explaining to do. Who was that recently got popped? Credit Suisse? Could be more on the way.
- If anyone mentioned in a US citizen or resident they damn well better have reported those accounts (FATCA). Penalties are steep.
- If anybody (the DoJ for us) requires intent to prosecute for criminal tax fraud, having legal memos from lawyers outlining the plans etc is a windfall proving criminal intent.
- INAL, so am wondering about the 4th amendment and tainted evidence. I'm guessing these docs were hacked or otherwise stolen and wonder if that affects admissibility etc.
This should be fun to watch.
Fern
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