Penn State Great Valley Professor Interviewed by French News Agency

Simon Pak, associate professor of finance and professor-in-charge of the master of finance program, was recently interviewed by Magali Serre, an investigative reporter for Channel 3 in France. Serre contacted Pak in August to interview him as an expert for her investigative report on wealth management for the affluent and tax avoidance/tax evasion through abnormal import/export pricing of merchandise between the United States and France. The reporter sought after Pak due to his recognized expertise on import/export trade data analysis, with particular emphasis on identifying trade mispricing and suspicious import/export transactions. During the interview, Pak provided Serre with a list of under-priced French exports to the United States and over-priced French imports from the United States. One example he cited included a French company that exported 300 clarinets at $8.28 each and 326 saxophones at $13.25 each (2008) to a U.S. importer. The list also indicated that a French importer purchased aluminum tubes (31 KG) at prices over $37,000/KG in 2008 from a U.S. exporter. The mispricing has the effect of under-reporting taxable income of French importers and exporters. The interview is schedule to be aired on the French TV in mid-November.

Simon Pak, associate professor of finance and
professor-in-charge of the master of finance program