Sentences with phrase «indirect federal guarantees»
Federal income tax law prohibits the use of direct or indirect Federal guarantees in combination with tax - exempt debt (section 149 (b) of the Internal Revenue Code of 1986 (the Code).
https://www.transportation.gov/ Not exact matches
-- Long Island restaurateur Harendra Singh was arrested and indicted in September on 13 federal charges including one that he bribed a former Town of Oyster Bay deputy attorney in order to have the town give him an «indirect guarantee» of $ 32 million in loans.
In return for the continuing illegal benefits, the defendants were involved in orchestrating a complex method to get Singh more than $ 20 million in indirect government loan guarantees from the Town of Oyster Bay, according to Eastern District federal prosecutors in court papers.