Patricia Hough, according to her lawyers, is an altruistic psychiatrist who helped her husband build two Caribbean medical schools. To prosecutors, she is a tax cheat who used offshore accounts to avoid paying taxes on millions of dollars from the schools’ sale.
A Florida psychiatrist never spent any of the millions of dollars that prosecutors claim she hid from the Internal Revenue Service, her attorney told jurors at the start of her tax trial in federal court in Fort Myers.
Orthofix International NV won court approval of a settlement of federal regulators’ claims that the maker of bone-repair products defrauded Medicare through a kickback scheme involving doctors, prosecutors said.
Libyan residents, some of whom are targeted by a United Nations-imposed asset freeze, had $62.1 billion deposited in overseas bank accounts at the end of September, according to the Bank for International Settlements.