Reply #33: `Sanford -- Another UBS, But Even More Illegal. [View All]

[justinaforjustice]

The UBS Swiss bank was just convicted of illegally enabling wealthy Americans to avoid paying taxes by hiding their money in secret, Swiss bank accounts. It appears that the Sanford's bank was similarly enabling wealthy Venezuelans to avoid lawful taxes and the currency exchange regulations by putting their funds in Antigua securities.

But the rich Venezuelans who tried to evade Venezuelan laws are in even worse shape that the Americans who used UBS. It seems that Sanford was running a Ponzi scheme, just like Madoff, and the Venezuelans have lost billions of dollars. Wow, karma comes quickly.