Thursday 8 December 2011

Why should I pay US taxes???

Some very interesting points came out of the presentation by Grant Thornton yesterday.

One of the most compelling arguments in support of Grant Thornton distributing the money frozen by the DoJ to victims as opposed to Janvey was made by Marcus Wide. We were informed that if Janvey was allowed to distribute the money, Number One on his list of claimants is the IRS who are claiming over US$226 million. On top of this they are also looking at the "loan" Stanford took out from the bank for US$1.8 BILLION. If they consider this as unearned income this will add another US$900 million to the tax debt they are claiming against the Estate and the IRS will become the largest single creditor!!!.

I believe (someone correct me if I am wrong) that the IRS have priority over all other claims in the US. They are the first to be paid, and if this is the case there will be nothing left for ANY other victims!! But regardless of their position in the queue to be paid, their claim will significantly reduce any money available for the rest of the GENUINE victims.

This reason alone is a strong enough argument as to why we must support Grant Thornton in their efforts to get the frozen money released to them and NOT to Janvey. Ask yourself, how can the IRS make such a claim against the estate when (according to the SEC) all money that went through Stanford's hands was stolen from the investors? And when (according to the SEC) no profit was ever made? Seems the goalposts are being continually moved by the US Government agencies to suit whatever game they want to play.

If this money was stolen, then the majority of it came from victims OUTSIDE of the US.......Why the hell are we expected to allow OUR money to pay US taxes for a dishonest US citizen???

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