IRS Unearths 'Systematic' Kickback Scheme

McConnell, Alison L.
May 2006
Bond Buyer;5/11/2006, Vol. 356 Issue 32379, p1
Trade Publication
The article reports on the plan of the U.S. Internal Revenue Service (IRS) concerning the sending of the 15 letters to bond issuers about a systematic arbitrage kickback scheme. This scheme has involved qualified guarantees for unloaned proceeds from lease-to-own bond deals, and the IRS believes that the issuers have the right to know that it has found evidence of payments between deal participants.


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