Global headhunter Egon Zehnder allegedly cheated the city and the state of New York out of millions under a 10-year tax dodge designed to underreport U.S.-based earnings while ginning up illegitimate losses, according to a recently unsealed tax whistleblower complaint.
The complaint accuses New York-based Egon Zehnder International Inc. (EZI USA) and its parent Zurich, Switzerland-based Egon Zehnder International AG (EZI AG) of an elaborate scheme to offshore $86 million in U.S.-based taxable income while onshoring $7 million in deductible losses from its foreign affiliates. The net effect of the scheme allegedly cheated the Empire State out of $13.25 million ...