German tax cheat sues former LGT bank subsidiary
German tax cheat sues former subsidiary of Liechtenstein's LGT bank over stolen customer data
- On 12:24 pm EDT, Wednesday September 30, 2009
VADUZ, Liechtenstein (AP) -- A convicted German tax evader Wednesday launched a legal bid for compensation from LGT Treuhand, claiming the Liechtenstein trust company's failure to inform him that his confidential details had been stolen harmed his chances of escaping prosecution for tax evasion.
The unidentified businessman asked a Liechtenstein court to award him euro13 million ($18.6 million) in damages against the former subsidiary of LGT bank in what is regarded as a test for other tax cheats whose identities German authorities gleaned from a CD-ROM of client names two years ago.
The businessman was convicted of tax evasion in 2008 by a German court. He was sentenced to a suspended prison term of two years and a fine of euro7.5 million ($11 million).
A ruling was not expected before next year.
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