Subscribe to our mailing list

* indicates required

 

 

 

 

BROWSE BY TOPIC

ABOUT FINANCIALISH

We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.

 

Stay Informed with the latest fanancialish news.

 

SUBSCRIBE FOR
NEWSLETTERS & ALERTS

FOLLOW US

Archive

Goldman Tax Whistleblower Could Be Fired - Report

December 9, 2011
A lawyer employed at the U.K. internal revenue service - HM Revenue and Customs (HMRC) -  faces disciplinary action, including being fired, and possible legal action for blowing the whistle on a deal which saw Goldman Sachs being let off from paying £10 million ($15.6 million) in tax, The Guardian, a British newspaper, reports. The lawyer, Osita Mba, who worked in the personal tax litigation team, told the UK National Audit Office and 2 committees of Parliament that HMRC had allowed Goldman Sachs to avoid the tax bill in evidence he presented in October.

Mba reported that the permanent secretary for tax at HMRC, Dave Hartnett, had reached a deal with Goldman's "with a handshake" and his evidence led to Hartnett being accused of misleading Parliament, which he denied but later admitted as being a mistake for having allowed the deal to take place.

Lawyer Under Investigation. According to the Guardian, HMRC officials have launched an inquiry into Mba's conduct and the lawyer is currently barred from entering HMRC offices in London.  However, a House of Commons politician described Mr. Mba's treatment as "harassment," noting: "Mr. Mba's evidence has been crucial in uncovering not just specific but systemic problems in HMRC's secretive relationship with big corporations.  This is harassment and is completely unacceptable." For further details, go to:   [CNBC.com, 12/9/11]