TITLE

IRS Unearths 'Systematic' Kickback Scheme

AUTHOR(S)
McConnell, Alison L.
PUB. DATE
May 2006
SOURCE
Bond Buyer;5/11/2006, Vol. 356 Issue 32379, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
23176002

 

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