Thursday, May 31, 2012
Kevin Downing, the Justice Department prosecutor who directed the U.S. crackdown on offshore tax evasion, resigned effective June 4, according to a person familiar with the matter. Downing, 46, was the lead prosecutor in the U.S. probe of UBS, Switzerland’s largest bank. In 2009, UBS avoided prosecution by paying $780 million, admitting it helped thousands of Americans evade taxes and turning over the names of 250 American clients to U.S. authorities. UBS later revealed another 4,450 accounts.
Federal Tax Crimes, Kevin Downing Resigning:
Kevin Downing, an attorney in DOJ Tax CES, has been a key player in the DOJ offshore juggernaut since the John Doe Summons proceeding against UBS ... Before stirring up trouble in the offshore account arena, Mr. Downing stirred up trouble over the KPMG tax shelters in SDNY which is where I first encountered him. He has been busy in his DOJ Tax CES career. I'll just say that I encountered Mr. Downing in the KPMG individual defendant criminal prosecution. I observed that he is a zealous advocate and true believer in the righteousness of his cause. At least in the KPMG matter, as the court ultimately held, the ends sought by the prosecution team on which Mr. Downing served did not justify the means the team chose to achieve the ends. United States v. Stein, 541 F.3d 130 (2d Cir. 2008).