Want to know why and how the old monied Dupont Nemours and Roosevelt families were able to buy 4,000 acres of waterfront property on the island of Provindentcials in the tax free, crown colony (or “Overseas Territory”) of the Turk and Caicos Islands for 1 cent an acre?
This 4,000 acre sale (now a marina and resort town - with an airport for jumbo jets (the $50,000,000 airport was donated by the UK government) went down in the 1970’s - not the 1870’s!?!?
The land was a “business-to-business” gift by the Crown to the du Ponts and Roosevelt families for their “aid and arms” to Britain and the English people during WWII.
The aid included 50 destroyers, and an endless suppy of high explosives and other supplies the British and Sir Winston Churchill badly needed.
Source: A Turks & Caicos Government 3 full page advertisement in Investor’s Daily (1985). :roll:
Was this the most profitable real estate investment of the 20th century? A quarter acre lot in the gated community of Sandyport here in Nassau, Bahamas sells for approximately $260,000 today. Half acre canal lots in Lyford Cay sell for about one million dollars.
Do the math. On an initial investment of just $40, the 4,000 acre property might be worth almost 4 BILLION dollars today.
Today, you need to know the US tax Code inside and out. You can’t just rely on your advisors.
IR-2005-83, Aug. 29, 2005 WASHINGTON — KPMG LLP (KPMG) has admitted to criminal wrongdoing and agreed to pay $456 million in fines, restitution and penalties as part of an agreement to defer prosecution of the firm, the Justice Department and the Internal Revenue Service announced today.
Source:
http://www.irs.gov/newsroom/article/0,,id=146999,00.html Copyright • 2006 Tax Haven Reporter.
“All rights reserved” – Reproduction without the permission of the author is prohibited.
Pursuant to Internal Revenue Service guidance, be advised that any federal tax advice in this communication, including any attachments or enclosures, was not intended or written to be used, and it cannot be used, by any person or entity for the purpose of avoiding penalties imposed under the Internal Revenue Code.
http://tomazz1.wordpress.com/http://www.ncpa.org/abo/staff/pdupont.htmlAmazon.com book reviews for our “Tax Havens of the World”
http://www.amazon.com/gp/product/1893522024/ref=pm_dp_ln_b_6/102-0881117-5284114?s=books&v=glance&vi=reviews&n=283155 
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