Jay R. Nanavati was quoted in a recent Law360 article entitled “Attys Say Journalism Pushed Gov’t Toward Tax Transparency,” published on May 13, 2022. The article discusses how rules in U.S. states that enable professionals to conceal who benefits from valuable assets have hindered efforts to enforce sanctions on Russian oligarchs in the wake of Russia’s invasion of Ukraine.
The article notes:
“The hypocrisy of it sort of reminds me of the League of Nations, right? We went out and told the whole world you need to have a League of Nations, and then we didn’t join,” said Jay Nanavati, partner at Kostelanetz & Fink and a former federal tax prosecutor. “Going back to my days at DOJ, I mean, it was really sort of galling.”
Nanavati said while many federal tax investigations he worked on arose in Nevada, the Nevada secretary of state’s website “shockingly” posted a taunting message saying “‘no information sharing agreements with the federal government’.”
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