LAWSUITS NEWS & LEGAL INFORMATION
Mellon Financial Corp.
Washington, DC: (Jun-28-07) The US government filed charges against Mellon Financial Corp. and its subsidiary Mellon Bank NA, alleging that the bank destroyed tens of thousands of tax returns and checks in 2001. The Justice Department filed the suit after it was discovered that Mellon employees had destroyed 77,000 tax returns and checks received from taxpayers. Mellon was under contract by the Treasury Department to process individual tax returns and checks on behalf of the IRS by midnight on April 29, 2001. That day, a Mellon vice president falsely notified the IRS that Mellon had completed its work. As part of the settlement, seven former Mellon employees previously charged with the destruction of the tax returns entered guilty pleas in their cases.
The settlement included Mellon Bank NA agreeing to pay a settlement fee of $16.5 million to the US government. This is the third settlement agreement between Mellon and the government over the destruction of tax returns. In 2002, Mellon paid $18 million to the Treasury Department as part of a separate settlement deal to reimburse the government on costs in connection with the IRS tax returns. [FORBES: DESTROYED TAX RETURNS]
Published on Jul-2-07
The settlement included Mellon Bank NA agreeing to pay a settlement fee of $16.5 million to the US government. This is the third settlement agreement between Mellon and the government over the destruction of tax returns. In 2002, Mellon paid $18 million to the Treasury Department as part of a separate settlement deal to reimburse the government on costs in connection with the IRS tax returns. [FORBES: DESTROYED TAX RETURNS]
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