In 2015, U.S. Senator from New Jersey Robert Menendez was charged with 18 counts of corruption, which included allegations of fraud, conspiracy and bribery. Seven of these counts--all bribery offenses--were connected to Mendenez's relationship with his long-time friend, Dr. Salomon Melgen. Melgen purportedly bought Menendez a lavish trip to Paris and donated to his political campaign in exchange for Mendendez's assistance with a medical dispute, a port security contract and securing U.S. visas for Melgen's girlfriends.
For several years, the Justice Department and U.S. taxing authorities have been working aggressively to implement the Foreign Account Tax Compliance Act, or FATCA. For the individual taxpayer who owns or has signatory authority over certain foreign assets or bank accounts, FATCA requires disclosure of those assets and accounts to the IRS. The idea is to stop U.S. taxpayers from hiding their assets in offshore "tax havens" in countries that don't share such information with the IRS directly.