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Posted: 06 July 2012

REVENUE PROSECUTION FOLLOWING SWISS BANK DISCLOSURE

William Clegg QC led Charles Conway, instructed by Russell Cooke, for the defence of Michael Shanly who was prosecuted in the first case following the "Swiss disc" disclosure to HMRC of more than 6,000 British citizens with accounts at HSBC Geneva. Having pleaded guilty on a limited basis Mr Shanly was fined £400,000 for not declaring an account with a credit balance of over £800,000.