I guess for April Fools Day the @nytimes will publish a real news story today!

IRS caught Big Pharma company Bristol Myers dodging $1.4B by assigning patents to it's Ireland office. A common tactic to pay royalties on it's products into a low tax nation. #ButNothingsHappening
Multinational corporations buy off Swamp creatures around the world to make loopholes that they can drive billions in profits through to evade taxes.
Relying upon the corruption services industry (accountants, lawyers, & others) to hide the arrangements & defend them if caught.
Ah, now we see why the NY Times cares today. It wants to use it as an excuse to support the infrastructure tax increases. Of course these multinationals will just invent new tax avoidance schemes & small businesses will pay all the taxes just as it is not.
Bristol Myers had been forced to fire PriceWaterhouseCoopers accounting firm when they got caught in an accounting scandal in 2006.

But when they needed to evade taxes in 2012, they went back to the firm they knew could do more shady accounting for them to evade taxes.
So PwC helped Bristol Myers play shell games with their patents to illegally generate more tax deductions. But you can claim it isn't a crime if a Swampy law firm signs off on it saying it is legal!
It worked Bristol Myers reduced it's tax rate from 25% to -7% with this evasion scheme!
Even their investors knew this was a shady deal resulting in a 'unique' tax rate & had questions the executives would not answer.
In 2020, the IRS ruled that Bristol Myers was evading taxes & drafted a legal analysis to support it. The company was redacted but done in a way that allowed sleuths to see what was behind the redactions.
Was it simply government incompetence as redacting private tax payer information?

Or did someone want this accounting & legal rubber stamped corruption exposed to the public to keep it from being buried?
IRS found that both the law firm & the accounting firm ignored the one law Bristol Myers was breaking in their legal analysis ruling the plan legal.

It is not an unusual tactic in the Swamp to get a lawyer's rubber stamp ignoring the real crime & declaring your actions legal...
Let's hope the IRS grows a backbone now that this has leaked & doesn't give Bristol Myers a sweetheart deal to pay back only a portion of the taxes it evaded. I think some corruption services industry leaders need to face consequences for engineering this too!

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More from @DawsonSField

1 Apr
Something smells wrong with the fraud, Tyson & Company1 paid this guy $244M to but & feed cattle from 2016-2020 without them noticing there were no cattle? Really?

The fake cattle were then used to manipulate cattle prices in the markets?

#ButNothingsHappening
Cattle go to market at 18-22 months of age. How can you conceal a fraud from meat companies for longer than that without serious collusion?
Why is Tyson named & Company 1 not named in the announcement of the guilty plea?

Is one of them under FBI investigation? Which one?
Read 4 tweets
31 Mar
#ButNothingsHappening

Nothing but a billionaire global Swamp creature flipping on the politicians he was illegally funding in 2019 & DOJ using his cooperation in secret until today!
Take a wild guess who this Swamp creature has been testifying about since he flipped in 2019! #ButNothingsHappening
latimes.com/politics/la-na…
According to DOJ, he has been providing unique & extremely important cooperation during the 18 months since he confessed his guilt & handed over the #Receipts
Read 9 tweets
29 Mar
Very interesting, the corruption that #DaphneCaruanaGalizia was covering before her murder lead to China & included Chinese oligarchs buying Maltese citizenship to become EU citizens through bribery.
#ButNothingsHappening
The shell company used for the kickbacks, Macbridge, was set up by the mother-in-law of a Chinese executive with Accenture one of the largest & allegedly Swampy global consulting firms. It was a spin off from accounting firm Arthur Anderson implicated in the Enron case. Image
Accenture (formerly Anderson Consulting) has a long history & been in a variety of questionable issues. Facing pressure in the early 2000s for being a US federal contractor incorporated in Bermuda, a well known tax haven. en.wikipedia.org/wiki/Accenture
Read 13 tweets
26 Mar
I missed this one!

Zurich's oldest private bank flips on it's customers, pay a $22M fine & confess to helping them evade $16M in US taxes. Agrees to hand over the #receipts & help the US prosecute these American oligarchs.

#ButNothingsHappening
Rahn & Bodmer admitted to helping 340 US taxpayers evade taxes from 2004-2012 by concealing their identities from US authorities. They had a peak of $391M stashed in the bank to hide it from the IRS. Image
Looks like they got caught moving assets to shell companies in Panama after assets in Liechtenstein shell companies became exposed to US authority in 2008.

I bet the #PanamaPapers gave them the keys to understanding these shell companies & enabled authorities to track it. Image
Read 6 tweets
25 Mar
Interesting, a German politician serving in the Bundestag was secretly getting abut $2M a year from a billionaire as 'consulting fees' to his law firm. Payments stopped a few months after he left office but exceeded 12M Euro from 2008-2015. #ButNothingsHappening.
It's in German but here are some snips that are translated by my browser.

Of course he hid behind attorney client privilege claiming to be bound by "strictly, legally regulated confidentiality".

Cool story bro!
I'm guessing this Swiss billionaire didn't want Europe consolidating enough to close all the loopholes in tax evasion & money laundering laws!
Read 4 tweets
25 Mar
Emilio Jose Heredia Collado, an oil trader for Swampy commodity trader Glencore has pled guilty & is cooperating with the DOJ for manipulating oil market prices to rig profitable trades for his employer. #ButNothingsHappening
morningstar.com/news/dow-jones…
Glencore's activities are under investigation in dozens of countries & since the 1970s they have played a role in everything from illegal CIA operations, UN programs, Russian arms deals, and bribery of dictators & politicians on a global scale.
The founder of Glencore, Marc Rich, was infamously pardoned by Bill Clinton on his final day in office to sabotage the prosecutions of Rich & his enablers by the Republican lead DOJ.
Read 9 tweets

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