US Seeks Data on Account Holders at Caribbean Bank

By: Associated Press
By: Associated Press

MIAMI (AP) -- U.S. taxpayers who stashed money in one of the Caribbean's largest banks without telling the Internal Revenue Service could be in trouble.

The U.S. government has obtained a court order to collect the names of taxpayers who had an account with CIBC FirstCaribbean International Bank over an eight-year period.

Justice Department spokeswoman Dena Iverson said Thursday this is the fourth time the government has issued this type of blanket banking subpoena to target offshore tax evaders and the first time in the Caribbean.

Court papers show the IRS decided to look at FirstCaribbean after reviewing account information from 129 people who voluntarily came forward to disclose offshore accounts.

The bank has branches in 17 Caribbean countries. It has said in a statement it will cooperate with U.S. authorities.


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