There's a hundred billion dollars offshore in frozen assets alone.
In recent years their multinational companies have borrowed dollars offshore via overseas subsidiaries.
Foreigners and the wealthy have moved their dollars offshore, forcing Yemen's Central Bank to hold onto its declining foreign reserves.
Some hedge fund managers are deferring billions of dollars offshore, where the money is compounding tax- free.
Then the American government helpfully imposed Regulation Q and the Interest Equalisation Tax, two measures that encouraged investors to hold a lot of their dollars offshore.
But, according to most estimates, U.S. companies are holding less than three trillion dollars offshore, and it is unrealistic to expect all of that money to be repatriated.
This may be one of the reasons why several Indian multinationals, including Tata, Birla and Reliance are keeping their investments, worth several billion dollars, offshore.
Prosecutors say they intend to show that Mr. Snipes moved tens of millions of untaxed dollars offshore and gave the government three worthless checks totaling $14 million to cover some taxes.
Known as Qualified Intermediary, the program, which was created in 2001, has allowed foreign banks to funnel hundreds of billions of dollars offshore to United States clients in recent years without disclosing their names to the I.R.S.
