Background of The Case
Samuel Bronston was a New York-based movie producer who, between 1959 and 1964, made films in various European countries as Samuel Bronston Productions, Inc., a company he wholly owned. He was a pioneer in using countries such as Spain to take advantage of lower production costs. As part of its business operations, the company maintained bank accounts in the countries in which it did business — 37 separate accounts in five different countries, it would be established later.
In 1964, after the epic The Fall of the Roman Empire failed, the company filed for federal bankruptcy protection. Two years later, its owner was being questioned under oath at a creditors' committee meeting about the company's overseas assets. It included the following exchange between Bronston and one of the lawyers for his creditors:
Q. Do you have any bank accounts in Swiss banks, Mr. Bronston?A. No, sir.
Q. Have you ever?
A. The company had an account there for about six months, in Zürich.
Q. Have you any nominees who have bank accounts in Swiss banks?
A. No, sir.
Q. Have you ever?
A. No, sir.
All those answers were truthful, although the second one is not a direct answer to the question. It would later be discovered that Bronston personally had had an account with International Credit Bank in Geneva, on which he made deposits and drew checks totalling up to $180,000 during the five years in which the company was active and closed just before the bankruptcy filing. As a result, the matter was referred to federal prosecutors, who secured a perjury indictment against Bronston.
Read more about this topic: Bronston V. United States
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