does macau report gambling winnings to irs

“We don’t do business with disreputable characters.”īehind the lofty pronouncements is a plain reality: Baker McKenzie is an architect and pillar of a shadow economy, often called “offshore,” that benefits the wealthy at the expense of nations’ treasuries and ordinary citizens’ wallets. “We are truthful and transparent,” the firm says in its code of business conduct. firms that have established large international networks and transformed the profession of law itself.īaker McKenzie says it is committed to the rule of law and the highest international standards for ethics, human rights, and anti-corruption policies. With 4,700 lawyers in 46 countries and revenue of $3.1 billion, Baker McKenzie bills itself as “the original global law firm.’’ It is among about a dozen U.S.

When billionaires, multinationals and the politically connected seek to hide wealth or avoid taxes, they often turn to Baker McKenzie, the Chicago-based behemoth. They all had a friend in America’s biggest law firm. was shopping for a tax haven to stash its mountain of offshore cash. The sale triggered a corruption probe of the then-Mongolian prime minister. Prosecutors say he and his associates used the companies to divert hundreds of millions of dollars from a government economic development fund.Ī Russian maker of Kalashnikov rifles, under international sanctions for bad behavior, wanted to sell its shares in a large copper mine to a shadowy business in Mongolia. An adviser to Malaysia’s prime minister needed help managing companies in the capital city of Kuala Lumpur and in Hong Kong.

Does macau report gambling winnings to irs