“He has offshore bank accounts.”
When you hear this phrase, what is your gut reaction?
For those of us who consume the news, read John Grisham novels or watch TV, when we hear “offshore bank accounts,” our guts scream “tax evader!” or worse. We think a bad guy is hiding assets. We think mafia, drug running, embezzlement, assassins, Ponzi schemes, white collar criminals, lengthy trials, and jail time. The media tells us that if someone has an offshore bank account, they have to be guilty, guilty, guilty!
Ok, that’s our gut reaction, which is often based on assumption, instinct and innuendo borne of rumor and half-truth. Continue reading