Belgium’s €52 Million Tax Fraud Case Survives Dismissal in NY

Belgium’s effort to recover millions allegedly lost in a scheme involving fraudulent tax refunds paid to US pension plans will move forward after a New York federal judge refused to throw out the lawsuit.

The investors and pension funds being sued said Belgium’s tax collecting authority filed its suit too late, but the US District Court for the Southern District of New York rejected that argument May 20. At least some claims were timely and there is still a factual dispute over when Belgium discovered, or should have discovered, the alleged fraud, according to Judge John Koeltl.

The timing of ...