Indians holding Indian Money in Swiss banks.Money in Swiss Banks List 1
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While the UK continues to account for the largest chunk of such funds, India has now slipped lower to 70th position – the lowest rank among all major economies of the world, shows an analysis of annual data released by Swiss National Bank(SNB) on all the banks present in the European country(NDTV June 23,2013)
ICIJ which has done extensive research and unearthed 2.5 Millions Files on secret offshore dealings of Businessmen, politicians and others throughout the world, has divulged that Vijay Mallya, Liquor Baron, IPL Team Owner, who did not pay his Airways Pilots for want of money(!),Essar Group,Oswal, Satyam Computers, Visaka Group,Mama Mappillai of MRF, and Mumbai-based jewelers, Rashmi Kirtilal Mehta and his son Bhavin Mehta.
Powerhouse: HSBC headquarters in the City of London. The bank has been accused of laundering money for the Mexican mob
Arvind Kejriwal has come out with his latest expose on Corruption-Chapter 4.
The earlier expose on Robert Vadra and Nitin Gadkati raised political storm.
Robert Vadra made Congress to go on the back-foot unable to drive,pull, hook or get under cover, with DigVijay Singh as the lone cheer leader!
Ntiin Gadkari affair,more than any body else made LK Advani stutter in defending Gadkari,demanding Gadkari’s resignation by proxy later and BJP is yet tor recover and is in total confusion.
-A source from the Congress gave Kejriwal a list that contains the names of Indians and Indian Companies who have stashed money abroad.
-The list contains 700 names.
Companies like Reliance Industries,Jet Airways and Dabur find their Role of Honor.
-Names include the suspected benamis of Reliance and Rahul Gandhi and Sonia Gandhi.
–HSBC Geneva is involved money laundering operations in India.
-Government of India has the list.
In July 2011, Indian Government received a list of roughly 700 people having bank accounts in HSBC, Geneva. The list contains bank balances of these people in 2006,” Kejriwal said.
Some names from the list.
Mukesh Dhirubhai Ambai – Rs 100 crores
Anil Dhirubhai Ambani – Rs 100 crores
Motech Software Private Ltd (Reliance Group company) – Rs 2,100 crores Reliance Industries Ltd – Rs 500 crores
Sandeep Tandon – Rs 125 crores
Anu Tandon – Rs 125 crores
Kokila Dhirubhai Ambani – She has an account but there was no balance on that date
Naresh Kumar Goyal – Rs 80 crores
Burmans (3 family members) – Rs 25 crores Yashovardhan Birla – no balance.
Anu Tandon and Sandeep Tandon – former IRS, ED official – who raided Reliance has 125 crores .
H and his kin are reported to be close to Rahul Gandi and Sonia Gandi.
-Kejriwal has produced statements given to CBI/IT by two businessmen who were raided by the IT Department.
Please read my blog on Rajiv Gandhi2.5 Billion Francs under corruption.
Figures in the story,does it include Rajiv’s?
I can not count the zeroes.
Story:
The revised Tax treaty between India and Switzerland which will be placed before the Swiss Parliament for final approval is creating nightmares to those tax evaders who have cheated tax to the tune of Billions of Rupees.
(Weak heart people may skip the below paragraphJ)
It is believed that an astonishing sum of around 1400 Billion dollars of black money is deposited in Swiss banks by the Indian Tax evaders. This amount is equivalent to 6300000,00,00,000 INR which is about 13 times larger than the country’s foreign debt!!!!.
(As I said, nothing came of the investigation as yet.)
The media which went over drive for the other stories are not so loud now as it was For Godavari basin issue.
Why?
Pay masters?
What is known to those who are literate has now come out to ordinary people who may not be exposed to English Media and Internet.
The Government needs to answer.
Some questions.
Reliance says that HSBC apologized to Mukesh Amnani that it had ‘inadvertently inserted Mukesh Ambani’s Name in the list.
The Government earlier stated that it colud not divulge the names in the CD given by France because of Double Taxation Clause between the Governments.
This does not wash well for the Supreme Court in an earlier case relating to the disclosure of Names from Lichtenstein observed that the said agreement does not proscribe the disclosure of names and ordered for the disclosure of names.
-Those who are now pointed by Kejriwal-none of them deny having an account in a Swiss Bank.
It it is honest money they should divulge it, at least to clear their names for holding a Foreign bank account including Swiss Banks is no offence.
(note the usage of the term Swiss bank, it means any Bank, not necessarily Credit Suisee or any bank that launders Dirty money only)
HSBC comments ?(provided at the end of the blog).
HSBC issued an apology that it had ‘inadvertently’ let Mukesh Ambani’s name in the list.
If so in which other list is Ambani?
What list?
Would the Government publish it?
Detailed statement explains the modus operandi of HSBC hawala transactions in India to the authorities.
Why there is no action against HSBC?
That the nexus of corporate and Politician is bleeding the Country is a fact.
Let the Government prove it wrong.
“Neither Reliance Industries Limited nor Mr. Mukesh Ambani have or had any illegitimate accounts anywhere in the world,” the energy conglomerate said on Friday in response to Kejriwal’s latest claim.
Reliance added the company deals with several global banks, including HSBC.
“These accounts are fully compliant with all regulations and are disclosed in their appropriate jurisdictions and in India,” the company said.
A spokesman for Anil Ambani, who is the chairman of Reliance Capital (RLCP.NS) and Reliance Infrastructure (RLIN.NS), said in an email: “Mr. Anil D. Ambani had no bank accounts with HSBC in Geneva.”
Jet Airways, India’s biggest airline, called Kejriwal’s accusation against its chairman “entirely false.”
Kejriwal also accused three people affiliated with personal care and food products maker Dabur India (DABU.NS) who he did not identify, of holding such accounts. The company declined to comment.
HSBC declined to comment on the allegations, but said it “takes compliance with the law, wherever it operates, very seriously.
One redeeming feature is , no one has been arrested..as yet!
ATHENS — A former Greek culture minister, several employees of the Finance Ministry and a number of business leaders are on a list of more than 2,000 Greeks said to have accounts in a Swiss bank, according to a respected investigative magazine. The Greek magazine, Hot Doc, published the list on Saturday, raising the stakes in a heated battle over which current and former government officials had seen the original list passed on by France two years ago — and whether they had used it to check for possible tax evasion….
Hot Doc said its version of the list matches the one that Christine Lagarde, then the French finance minister and now the head of the International Monetary Fund, had given her Greek counterpart in 2010 to help Greece crack down on rampant tax evasion as it was trying to steady its economy. The 2,059 people on the list are said to have had accounts in a Geneva branch of HSBC.
Questions about the handling of the original list reached a near frenzy in Athens last week as two former finance ministers were pressed to explain why the government appeared to have taken no action on the list. The subject has touched a nerve among average Greeks at a time when the Parliament is expected to vote on a new 13.5 billion euro austerity package that could further reduce their standards of living.
The publication of the list is likely to exacerbate Greeks’ anger that their political leaders might have been reluctant to investigate the business elite, with whom they often have close ties, even as middle- and lower-class Greeks have struggled with higher taxes and increasingly ardent tax collectors.
Hours after the magazine hit newsstands, Athens prosecutors issued a warrant for the arrest of Kostas Vaxevanis, the owner and editor of Hot Doc, “where names from the Lagarde list have been published,” the Athens police said in a statement on their Web site. They said he was sought on misdemeanor charges; the Greek media reported that the charges were related to violating the privacy of those on the list.
The following is a list of 2,059 names of Greek citizens that have bank accounts with HSBC’s branch in Geneva, Switzerland. The list was originally published by a Greek magazine called Hot Doc on October 27, 2012 resulting in the arrest of its editor Kostas Vaxevanis for “breach of privacy”. These scanned images of the magazine were originally posted on the website of the Greek television program Zougla. We have taken the images and converted them into a PDF file for easier viewing. The original scanned images of the magazine are also available in a ZIP archive. Thanks toDarker Net for pointing out the scanned images.
The Swiss magazine sent me a communication saying that I might have it wrong.
Yet the same magazine in its reply to Swamy’s query has studiously avoided confirming/denying the Story( as it has done to my piece),yet asks for Subscription!
I have marked it in bold letters in the following story.
Also note the revelation by Rajiv Gandhi.
Story:
The shocking exposure came from Switzerland itself. The most popular magazine of Switzerland, Schweizer Illustrierte, [dated November 11, 1991] did an expose of 14 politicians of developing nations who, it said, had stashed their bribes in Swiss banks. The title of the expose in German read “Fluchgelder — Die Schweizer Konten der Dictatoren”. In English it meant, “Curse of money — The Swiss bank accounts of the Dictators”. Rajiv Gandhi figured in the expose as one with slush funds in secret accounts. Schweizer Illustrierte is not some rag. It is the Number One Swiss magazine and sells some 2,10,000 copies. Its readership is 9,18,000 — some 15 per cent of Swiss adults. The magazine had mentioned specific amounts in secret Swiss accounts of different leaders with their pictures alongside.
The report under the picture of Rajiv Gandhi, translated into English, read: “2.5 billion francs on the Indian secret accounts in Switzerland” of “Rajiv Gandhi, Indian”. Today the amount of 2.5 billion Swiss Francs equals 2.2 billion US Dollars. But as Rajiv was no more by then, it must become the family inheritance. The other leaders captured by the magazine were: Suharto of Indonesia (25.5 billion), Haile Selassie of Ethiopia (22.5 billion), Mobutu of Zaire (6 billion), Shah Pehlvi of Iran (5.7 billion), Saddam Hussein of Iraq (800 million), and Nicolas Ceausescu of Romania (500 million). The figures of slush money mentioned were in milliarden (meaning ‘billions’) units of Swiss Francs. Had Rajiv been alive then, the expose would have caused a political tsunami in India.
The box item above shows the pictures and the amounts of the leaders as appearing in the magazine.
More than the slush money charge it is the family’s silence about it, which is baffling. The number one magazine in Switzerland had made the damning charge that Rajiv Gandhi had left behind slush funds of $2.2 billion and yet the family has kept mum for 18 years now. How could any honest person tolerate such a serious charge? Well, one could say that the family might not have challenged it because it was published in far away Switzerland. But Dr Subramanian Swamy had included the Schweizer Illustrierte expose in his write-up “Do You know your Sonia?” in his party, the Janata Party, website, seven years ago, in 2002. It is still on the Party’s website. Photocopies of the expose in the Swiss magazine are shown at pages 51 to 53 of Dr Swamy’s write-up; also an e-mail from the magazine addressed to Dr Swamy on February 22, 2002 at page 50. The e-mail confirms what the magazine had reported.
The e-mail reads:
“Dear sir,
We refer to your e-mail of April 4, regarding an article in our magazine Schweizer Illustrierte of November 11, 1991. In this article — Fluchgelder – Die Schweizer Konten der Dictatoren — is Rajiv Gandhi named with tot 2.5 Milliarden CHF on secret accounts. If you want the magazine please indicate the exact address.
Yours faithfully,Ringer Ltd.Margot Todisco”.
The fax and telephone numbers of Margot Todisco are also given in the mail. The e-mail is in box alongside here. Yet no one from the Congress or from the family has sued Dr Swamy till date, nor challenged him. The Swiss expose also prominently figured in the advertisement that some NRIs had put out in the New York Times to protest against Sonia Gandhi when she visited the US in the year 2007. The Indian National Overseas Congress (INOC) filed a defamation case against the ad, expressly “not to defend itself, but Sonia Gandhi”. The New York Supreme Court dismissed the case holding that only Sonia Gandhi, not the INOC, had the locus to sue. But she would not dare sue. Thus, neither in Switzerland where Schweizer Illustrierte exposed Rajiv’s secret account with billions 18 years ago in 1991, nor in India where Dr Swamy had put it on his party’s website seven years ago in 2002, or in the US where the NRIs had boldly advertised the expose two years ago in 2007, would the Gandhi family challenge the expose.
In criminal law the conduct of the accused is an important piece of evidence. What does the family’s conduct show here excepting that it has something to hide.
Second: family benefited from KGB, says book
The second expose, Rajiv Gandhi figuring again, is that the first family of the Congress accepted political payoffs from the Russian spy outfit, the KGB. In a highly acclaimed book The State Within a State: The KGB and Its Hold on Russia-Past, Present, and Future by Yevgenia Albats, a journalist on Moscow News and Izvestia, the author writes: “A letter signed by Victor Chebrikov, who replaced Andropov as the KGB head in 1982, noted: the USSR KGB maintains contact with the son of the Premier Minister Rajiv Gandhi (of India).
R Gandhi expresses deep gratitude for the benefits accruing to the prime minister’s family from the commercial dealings of the firm he controls in co-operation with the Soviet Foreign trade organisations.
R Gandhi reports confidentially that a substantial portion of the funds obtained through this channel are used to support the party of R Gandhi.” (p223) The author also cites the KGB letter and file reference. In Dr Swamy’s write-up on Sonia, KGB’s letter in Russian is attached at page 45 and its English translation at pages 43 and 44.
On February 2, 2011,Schweizer Illustrierte sent me a comment which is provided at the end of this article.
I again checked the link.
The information in German seems to confirm the information on Rajiv Gandhi.
May be I got my translation wrong.
If some one can confirm that the information on Rajiv Gandhi is wrong as per the magazine’s published Record,I hereby tender a Public Apology to Sonia Gandhi,Rajiv Gandhi and Family.
I have a few questions.
Why did the magazine take 10 years to deny?
Why does Sonia Gandhi keep quiet?
What is the stand of India Today, Subramanian Swamy , S.Gurumurthy and the Indian Express?
Also note that the magazine , in its communication, has not denied it out right.
It says ‘as we think you might have cited it wrong’
Typical statement which while not confirming also does not categorically deny it.
If Schweizer Illustrierte’s article is wrong ,has Sonia Gandhi received an apology from them?
Questions, questions every where , not an answer to blink.
In an article written on March 18th 2009: INDIA has $1.4 Trillion of Illegal money stashed in Swiss Banks – Time to bring it home !, I wrote in the first para: “Rajeev Gandhi’s untimely death left Sonia Gandhi extremely wealthy. The true extent of her wealth became known only when the Soviet archives were thrown open following the collapse of the Soviet Union. KGB archives revealed that as far back as 1982, when Indira Gandhi was still prime minister, Soviet trading agencies were channeling funds into a company controlled by her son and future Prime Minister Rajiv Gandhi.
This was also brought to light by Harvard Russian scholar Yvgenia Albats in her book The State Within A State: The KGB and Its Hold on Russia. The Swiss news-magazine Schweizer Illustrierte (November 11, 1991) provided more details. Citing newly—opened KGB records, it reported that Sonia Gandhi, widow of the former Prime Minister Rajiv Gandhi, was controlling a secret account worth 2.5 billion Swiss francs (about 2 billion dollars at current exchange rates) in a Swiss bank in her minor son’s name.
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