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US senator voices concern over Liechtenstein bank affair
AFP, February, 2008
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WASHINGTON (AFP) — A powerful US senator voiced concern Thursday that American citizens may have opened accounts with Liechtenstein's LGT Bank in a bid to evade US taxes.
Liechtenstein's status as a secretive banking center has come under fire after Germany's government opened a vast tax probe of nearly 1,000 people suspected of hiding billions of dollars in accounts in the small European principality.
US Senator Carl Levin, the chairman of a Senate investigations committee, said he intended to probe whether wealthy American citizens had hidden funds in Liechtenstein bank accounts in a bid to evade taxes.
"Liechtenstein's LGT Bank, which is owned by the royal family, has apparently harbored numerous secret accounts which hid the taxable assets of thousands of citizens from around the world," Levin said in a statement.
"It is my understanding that many US citizens have also hidden assets at this ...
