Revenue uncovers 15 more 'Ansbacher-type' cases

INVESTIGATIONS: Revenue Commissioners have uncovered a further 15 Ansbacher-type cases as part of their ongoing investigation, according to figures released by the Minister for Finance, Mr McCreevy.

Official statistics for October last year showed 182 Ansbacher-type cases under investigation, including 121 uncovered by the authorised officer and 61 cases discovered by the Revenue. The new cases bring the Revenue total to 76.

Officials are also investigating a number of "non-Ansbacher" cases involving illegal offshore funds and deposits, of which two have been settled following voluntary disclosures. Payments of €250,000 in one incident and €280,000 in the second case, were made in settlement.

One Ansbacher case has been concluded after investigators found no additional liability arising.

In total, €16.67 million have been made "on account" in 49 of the Ansbacher and offshore fund cases under investigation by the Revenue Commissioners. The payments include €10.16 million in 40 of the Ansbacher-type cases and €6.51 million in nine other cases involving offshore funds or deposits.

The Revenue's Ansbacher review team, which began its investigation in October 1999, is actively investigating 168 of the 197 Ansbacher-type cases, the Minister said in written replies to parliamentary questions. He pointed out that, while there were 197 core cases, there were now more than 650 connected entities under investigation.

"The investigation includes examining the tax position of disclosed entities and accumulating and assembling information on other connected entities," he said.

He informed Limerick East Labour TD Ms Jan O'Sullivan that the review team had not yet started inquiries into the other 29 cases because of "insufficient identity information, apparent non-residency or the 1993 amnesty being claimed".

Mr McCreevy pointed out that, "where appropriate, prosecutions will be considered but these will depend on the level of evidence available".

Separately, 11 prosecution cases are possible in the Revenue Commissioners' investigation into investments made under the National Irish Bank/CMI scheme, according to Mr McCreevy. Revenue has collected €33.75 million to date in tax, interest and penalties, including €25.61 million in the 306 settled cases and €8.14 million "on account" in a number of the 124 cases still under investigation.

Financial institutions in the State have frozen the accounts of "about half a dozen" people, valued at €127,000, in the wake of the September 11th attacks in the US. Mr McCreevy said the funds had been frozen under EU council regulations, which he said had the force of law in the Republic and provided for the freezing of funds and other financial resources of the Taliban of Afghanistan.