US investigators hammer offshore providers

    An offshore insurer whose directors include former Chairman of the Cayman Islands Monetary Authority Michael Austin may have been used to help an American family worth billions of dollars break U. S. tax, securities and money laundering laws.The allegations were made in a report entitled “Tax Haven Abuses: The Enablers, The Tools and Secrecy” that was published by the U. S. Senate Permanent Subcommittee on Investigations on August 1, 2006.