FBAR Penalties - US v. Molyneux - The Next Opportunity To Argue The Excessive Fines Clause

January 30, 2023 - Participants include:

Virginia La Torre Jeker - @VLJeker

John Richardson - @Expatriationlaw

 

In December of 2022 the Department Of Justice sued Ms. Molynuex to recover FBAR penalties.

Significantly:

- it appears the penalties were assessed in relation to an account that she had "signing authority" over but no beneficial interest (it wasn't her account)

- the penalties assessed were more than 400% of the maximum value of the accounts

This may be a good case to accept Justice Gorsuch's invitation from the Toth case to argue that that "civil FBAR penalties" are indeed limited by the "Excessive Fines Clause" of the eighth amendment of the constitution.