Hundreds of rich Americans whose names and secret foreign bank account information were turned over to US tax authorities could face criminal prosecution. A Senate committee is scheduled to convene tomorrow and among those called to testify are foreign bank account holders, including one of the wealthiest men in Los Angeles. Are America’s wealthiest citizens cheating the government out of billions?
48 year-old Peter Lowy and his family own the giant Westfield shopping center fortune and will control the retail space in the rebuilt World Trade Center in New York. Bob Bennett, a lawyer for Lowy, who is a prominent contributor to both Democratic and Republican candidates, told ABC News that Lowy’s name was on the list of secret accounts from a Liechtenstein bank but that Lowy did nothing wrong.
Bennett said Lowy is out of the country tomorrow and will not be available to testify.
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