Transcript of an interview with Patrick Flynn.
This transcript is the first of two calls that were part of a sting operation by Grieve and McKenzie to get evidence that Euro Pacific Bank was facilitating tax evasion and money laundering. Patrick Flynn only spoke about Euro Pacific Bank briefly. On page 15, he said that there had “been a rush of international banks setting up in Puerto Rico in the last two years because it’s part of America, technically, but it’s a tax haven.” While that was a true statement, Flynn conflated Puerto Rico’s status as a tax haven for bank owners with its being a tax haven for bank customers. It was for the former but was not for the latter. As far as tax status or privacy, banking in Puerto Rico was no different than banking in California or New York. But 60 Minutes included this clip to create the false impression that customers were banking with Euro Pacific Bank to evade taxes.