US seeks $39M from dead Cayman banker

| 02/09/2011

(CNS): The US government has filed a complaint against the Estate of deceased offshore banker John Mathewson in an attempt to collect on an unpaid judgment for $11.3 million in 1993 that has grown to $39 million, Offshore Alert reported Thursday. The defendants include two Bahamas companies in which Mathewson allegedly "kept most of his money hidden". The action was brought nearly 14 months after Mathewson died at the age of 82. He became one of the most notorious figures in the world of offshore banking when, in 1996, he gave the IRS computer tapes containing the complete accounts statements of over 1,000 customers of Cayman Islands-licensed Guardian Bank & Trust, the offshore watchdog stated.

The action is an attempt to collect "the unpaid balance of certain federal taxes plus statutory additions owed by convicted tax felon John Mathewson who died intestate on November 26, 2009, and to enforce and foreclose IRS tax liens and a judgment in favour of the United States relating to Mathewson’s unpaid tax liabilities", it was stated in an amended complaint filed on June 1, 2011.

"A Judgment in favour of the United States is enforceable for at least 20 years," stated the U. S. Government, which obtained a judgment for $11,329,588, plus interest from April 26, 1993, against Mathewson on September 28, 1993 for his unpaid income taxes from the years 1972 and 1974 through 1985. "As of January 4, 2011, the total amount due on the Judgment against Mathewson was $38,779,655.18."

The action was brought at the U. S. District Court for the Western District of Texas on January 11, 2011 – and the defendants are the Estate of John Mathewson, his widow, Linda Mathewson; Martin O'Neill, Texas NOM limited Partnership, d.b.a. Garrison, Ltd., described as a Texas limited partnership; Texas MON, LC, described as the general partner of Texas NOM; FMBL, Inc., described as a Texas corporation; Enster Corporation, and Marlborough Investments, Inc., which were both described as Bahamas corporations.

See full article at www.OffshoreAlert.com
 

Category: Finance

Comments (15)

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  1. Anonymous says:

    Seems many commenters don't know who this guy was or what this is about. He was a US citizen and so is his estate. He had an "offshore bank" in Cayman that he used for money laundering and tax evasion. He didn't pay his taxes and got caught. This was in the NY Times back in the '90's. It did not help Cayman's image. He owed the US a lot of money and never paid.

    Too bad for his family, but daddy was a crook. They will have to depend on the money he hid somewhere else. Why this upsets Caymanians is beyond me.

  2. Anonymous says:

    It just goes to show, you can't take it with you.

  3. Anonymous says:

    Call Brian Gibbs at spy HQ London he took the bank down he knows all they need to know and more??????????

  4. Anonymous says:

    Paid his dues, you have got to be kidding. What about all his clients that he turned in to save himself from going to jail in a deal to protect himself. It says it all about the man.

    Another famous up standing "Caymanian Rotarian".

    • Chris Johnson says:

      I must take objection to the manner in which the reference to Rotary has been made in the response to the article. In ever society there are bad eggs and Mr Matheson was one of them.This was a big disappointment to all Rotarians in Cayman and elsewhere. The four Rotary clubs in the Cayman Islands have done tremendous work over the years and what is probably not known to many, the clubs are also instrumental in projects in less fortunate societies overseas. The clubs have been blessed with outstanding members over the years, many whose names, too many to list, are household names. Their contributions can be seen all over the island. I for one, am proud to have been a Rotarian, to have enjoyed the fellowship of club members and to be of service to the community along with the many other service clubs and charitable organizations that contribute to our local society.

      • Anonymous says:

        Chris, whilst I agree with you, Rotary in Cayman is now too frequently a poor reflection of it’s former self. There are regrettably members who I am surprised are allowed to remain, let alone find the stomach to recite the 4 way test before meals.

      • Anonymous says:

        How can anyone give Chris Johnsons response the thumbs down? Guess it must be personal. Rotary clubs and other service clubs are part of our society and their efforts are very much appreciated. The thumbs down need get a life.

  5. Anonymous says:

    Mr. Matthewson have already paid his dues, whatever monies is left should be for his family. 

  6. Anonymous says:

    IRS Thieves!  And you would think that they would at least respect the man's death. But no like vultures, they are eager to rob the money from his offspring.

  7. NJ2Cay says:

    Funny how the US has become such a TAX State when it was the US that fought a War against the British because they didn’t want to pay taxes themselves. Well I guess someone has to pay for all those bombs they blew up in the Mountains of Afghanistan as well as for all the bad decisions they made that destroyed the US economy..  

     

    Misery sure loves company…

    • Doobles says:

      It was the lack of representation that was the problem, not the taxation.  But you go on and  skew history to try to make a bad point.

    • Anonymous says:

      You obviously don't know much about US history.  The war was not fought to stop paying taxes, the war was fought (partly) because the colonies were being taxed by a parliment in which they had no representation.  Independence would have eventually come about; however, if the UK had allowed the colonies to vote for their own representatives in parliment, the war would not have begun when it did.  The founding fathers were not against paying tax to the UK, they were against paying tax without the right to vote for those who were instituting the tax plus the taxes were being used to fund the UK's wars in Europe.

  8. Dollar Store says:

    Dollar store is saying, MacKeva, dont give them a darn thing!!  USA is always wanting everything from everybody, and they are the ones now who has made England put pressure on us Tax  Havens.  Get the best Legal consultation with a stack of books and a hook stick.

    Hold unto what ever is here and even if they try going with it, make sure that you tear the dollars in half through that plane door.