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Is India poor, who says? Ask Swiss banks
With personal account deposit bank of $1500 billion in foreign reserve which have been misappropriated, an amount 13 times larger than the country's foreign debt, one needs to rethink if India is a poor country?
DISHONEST INDUSTRIALISTS, scandalous politicians and corrupt IAS, IRS, IPS officers have deposited in foreign banks in their illegal personal accounts a sum of about $ 1500 billion, which have been misappropriated by them. This amount is about 13 times larger than the country’s foreign debt. With this amount 45 crore poor people can get Rs 1,00,000 each. This huge amount has been appropriated from the people of India by exploiting and betraying them.

Once this huge amount of black money and property comes back to India, the entire foreign debt can be repaid in 24 hours. After paying the entire foreign debt, we will have surplus amount, almost 12 times larger than the foreign debt. If this surplus amount is invested in earning interest, the amount of interest will be more than the annual budget of the Central government. So even if all the taxes are abolished, then also the Central government will be able to maintain the country very comfortably.

Some 80,000 people travel to Switzerland every year, of whom 25,000 travel very frequently. “Obviously, these people won’t be tourists. They must be travelling there for some other reason,” believes an official involved in tracking illegal money. And, clearly, he isn’t referring to the commerce ministry bureaucrats who’ve been flitting in and out of Geneva ever since the World Trade Organisation (WTO) negotiations went into a tailspin!

Just read the following details and note how these dishonest industrialists, scandalous politicians, corrupt officers, cricketers, film actors, illegal sex trade and protected wildlife operators, to name just a few, sucked this country’s wealth and prosperity. This may be the picture of deposits in Swiss banks only. What about other international banks?

Black money in Swiss banks -- Swiss Banking Association report, 2006 details bank deposits in the territory of Switzerland by nationals of following countries:

Top five

India---- $1456 billion
Russia---$ 470 billion
UK-------$390 billion
Ukraine- $100 billion
China-----$ 96 billion

Now do the maths - India with $1456 billion or $1.4 trillion has more money in Swiss banks than rest of the world combined. Public loot since 1947: Can we bring back our money? It is one of the biggest loots witnessed by mankind -- the loot of the Aam Aadmi (common man) since 1947, by his brethren occupying public office. It has been orchestrated by politicians, bureaucrats and some businessmen. The list is almost all-encompassing. No wonder, everyone in India loots with impunity and without any fear.

What is even more depressing in that this ill-gotten wealth of ours has been stashed away abroad into secret bank accounts located in some of the world’s best known tax havens. And to that extent the Indian economy has been stripped of its wealth. Ordinary Indians may not be exactly aware of how such secret accounts operate and what are the rules and regulations that go on to govern such tax havens. However, one may well be aware of ’Swiss bank accounts,’ the shorthand for murky dealings, secrecy and of course pilferage from developing countries into rich developed ones.

In fact, some finance experts and economists believe tax havens to be a conspiracy of the western world against the poor countries. By allowing the proliferation of tax havens in the twentieth century, the western world explicitly encourages the movement of scarce capital from the developing countries to the rich.

In March 2005, the Tax Justice Network (TJN) published a research finding demonstrating that $11.5 trillion of personal wealth was held offshore by rich individuals across the globe. The findings estimated that a large proportion of this wealth was managed from some 70 tax havens.

Further, augmenting these studies of TJN, Raymond Baker -- in his widely celebrated book titled ’Capitalism’s Achilles Heel: Dirty Money and How to Renew the Free Market System’ -- estimates that at least $5 trillion have been shifted out of poorer countries to the West since the mid-1970. It is further estimated by experts that one per cent of the world’s population holds more than 57 per cent of total global wealth, routing it invariably through these tax havens. How much of this is from India is anybody’s guess.

What is to be noted here is that most of the wealth of Indians parked in these tax havens is illegitimate money acquired through corrupt means. Naturally, the secrecy associated with the bank accounts in such places is central to the issue, not their low tax rates as the term ’tax havens’ suggests. Remember Bofors and how India could not trace the ultimate beneficiary of those transactions because of the secrecy associated with these bank accounts? IS THERE ANY ONE WHO WOULD SAVE INDIA ?God... No No No, even he can’t..........!!

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peter Humphries
Pictet & Cie.- claim they are the “Rolls Royce”of swiss banks. Swiss Banks or more correctly Swizz banks. Swizz. ---- “ a great disappointment.” or a “ fraud.” Fraud. ---“ an intentional deception or dishonesty.”— “a crime.” Crime. ---“ an act committed or omitted in violation of a law.” Serious Crimes . Conspiring to pervert the Course of Justice. Perverting the Course of Justice. Contempt of Court. The Establishment “ Cover up crimes”. The ‘Doyens’ of the establishment.’ ( Ivan Pictet and Monty Raphael.) Ivan Pictet. Managing partner in Pictet & Cie Bank .--- Switzerland. President of the Geneva Financial Centre. World Bank.committee member. United Nations. Investment Committee member, Vice President – Global Humanitarian Forum. Member of the Henokiens. Blackstone Group --- Board Member. Past- President – Geneva Private Bankers association. Past –President – Geneva Chamber of Commerce and Industry. Monty Raphael. Quote.” ---- Doyen of U.K. Fraud lawyers. Consultant & Head of Fraud and Regulatory Dept. Member of Board of Directors of the Fraud Advisory panel. Member of the Law Society of England & Wales. International Bar Association Member. Past President—London Criminal Court Solicitors Association. Past Chairman ---of Anti Corruption Committee. Founder of Business Crime Committee of the International Bar Association. Pictet & Cie Bank & Peters & Peters. The bank and it’s officials deliberately withheld crucial documents requested under a High Court order.The bank and it’s officials deliberately withheld evidence from the Police , and one of it’s account managers Susan Broadhead gave a false witness statement to the police. Another one of it’s managers Nicholas Campiche ( Now Head of Pictet – Alternative Investments.)concocted a letter pretending to be a client and closed his account. The senior partner (Ivan Pictet.)sought to have numerous documents destroyed,along with those copies held in their London office of P.A.M. Initially stating that they were forgeries then their lawyers Peters & Peters – Monty Raphael – and the barrister Charles Flint.Q.C.) –later had to admit in Court that the documents were genuine. (1) It is a criminal offence for a bank to knowingly act for an undischarged criminal bankrupt in so far as it seeks to assist that criminal bankrupt in the fraudulent movement of monies. ( Money Laundering.) (2) It is a criminal offence for a bank to lie to the police and the bankrupts trustee in bankruptcy in so far as any knowledge of, or dealings with the bank was refuted . (3) A bank can be guilty of Contempt of Court if it fails to comply fully with the Courts order for discovery . (4) The banks contempt is further compounded if it fails to address its error after it is specifically drawn to the to its solicitors attention. ( Monty Raphael). (5) It is a criminal offence under the Financial Services Act to seek to destroy evidence that might be relevant to an investigation . (6) It is a criminal offence not to relinquish control of funds to the Trustee immediately the fact of the bankruptcy is drawn to the banks attention. (7) It is a criminal offence to lie or otherwise obfuscate the lawful and proper enquiries of the F.S.A. On Dec 9th,2008. the complaint was sent to 150 Members of the House Of Lords and 230 Members of Parliament. *** We thank ---David Cameron. M.P. ( Canary Wharf Speech.) Dec. 2008. (1) Bankers who behave irresponsibly should face professional consequences. (2) If anyone is found to have behaved criminally they must be prosecuted. (3) The F.S.A. and the Serious Fraud Office should be following up every lead, investigating every suspect transaction . (4) We need to make it 100% clear –those who break the law should face prosecution. (5) That we make sure we root out any wrongdoing that may have happened, whoever is involved ,however high or well connected they may be. Quote. ( America’s Top Lawyer .) You can be the richest man in the world with the best lawyers that money can buy but you cannot win against a man who has got nothing left to lose and is telling the truth. Full Story. Go to search box on “Google” and insert ( Ivan Pictet / Monty Raphael) or insert ( Pictet & Cie / Monty Raphael.) - - then try it on “Yahoo”. Or try (Jack Loach/ Ivan Pictet.)
Gurbinder SIngh
NEW DELHI, May 13, 2009: On Behalf of All citizen of India, a Delegation of 05 members submitted a memorandum in Switzerland Embassy to the Ambassador of Switzerland - Mr. Arthur Mattli at 11:30 am on 13th May 2009 The Delegation demanded vide memorandum - from Switzerland Govt. disclosure of illegal Black money deposited in Swiss banks by Corrupt Indians so that the seized money be brought back to India for the economic prosperity of Millions of Indian’s. The memorandum demanded that Switzerland Government and United Nations should make immediate Steps to stop this heinous Money Laundering being done by Corrupt Indians. A quote from the memorandum; If the Switzerland government is unwilling to act towards the noble and the ethical and the legal cause of prosperity to other nations, our delegation of common people will seek support of all the social organizations in India and world wide to endeavor, declaration of Switzerland as an “Economic Terrorist Country”. The Discussion re presented by a 05 member delegation with Mr. Arthur Mattli, Minister & Deputy Head of Mission resulted in exchange of several new facts. One of the relevant point of those facts was that Mr. Mattli expressed by his long experience in Swiss Administration that - There are many countries apart from Switzerland involved in similar Money Laundering being done by illegal method of money transfers through a designed route that covers several countries. Our Delegation had been giving presentations to the Ministries & PMO on this issue since January 2009 on the facts given by Swiss Bank Association, But there was no reply of action by the government. We strongly feel that since last 60 Years, the money Laundering in Swiss Banks was being done with the knowledge of Political Parties, but no political party took any step to stop this crime, Therefore “No Political Party should play politics on this issue of Political shame” “The demand for Swiss bank money' as an issue raised by one Political Party seems to be a makeover for a better Political image in current Lok Sabha Elections, but this fact of money laundering was never been a serious motive for all the political parties” says one of the member of delegation. The delegation expressed shock over the disclosure made by Swiss Govt that it had received forged documents from New Delhi two years ago in connection with an alleged Rs.40,000 crore ($8 billion) money laundering case involving racehorse breeder Hassan Ali. The Delegation sincerely feels that if illegal wealth deposited in foreign banks is brought back to India, many basic problems like Malnutrition, Poverty, Unemployment, Economic disparities and others can be resolved properly. TN Purwar, Kaushal Kauma, Anuj Guliyani, Nidhi Mahajan, Gurbinder Singh
mani
Kapil sibal/congress/singvi "BJP was in power last time and they didnt do anything."" Only last year the US and other countries started pressurizing Swiss bank. And swiss bank disclosed some members details to USA,Germany. But congress not interested in getting the details Congress says-""the summit is not place for talking abt swiss money"" when Germany’s finance ministry offered the LTG bank secret data to any country that needed it, the congress government would not ask for it despite reports that it contained some 100 Indian names. When in April last year, L K Advani wrote to Manmohan, requesting to him to ask Germany for the data,nothing was done. In the G20 preparatory meeting at Berlin, Germany and France were threatening to blacklist Swiss and other secret tax shelters, India was in silence. when L K Advani told Manmohan Singh that India should join in the G20 effort to break banking secrecy, the PM did not respond. The spokesperson of the Congress Abhishek Singhvi responded that G20 was not the forum for that, being blissfully ignorant of the fact that it was a main agenda of G20 meet.In fact just ahead of the meeting, Sarkozy had threatened to walk out unless the G20 decisively acted against secret banks and tax havens. Already there was a report from Swiss bank that Rajiv gandhi had an account of 2 billion dollars (it was in 1991/92!!!) The BJP has said it wud bring the 75lac crore rs from swiss to India for development... Atleast government should expose the indians having accounts and collect taxes for the stashed away money...which would amount to billions of dollars!!!
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Jack loach
The Establishment “ Cover up crimes”. The ‘Doyens’ of the establishment.’ ( Ivan Pictet and Monty Raphael.) Ivan Pictet. Managing partner in Pictet & Cie Bank .--- Switzerland. President of the Geneva Financial Centre. World Bank.committee member. United Nations. Investment Committee member, Vice President – Global Humanitarian Forum. Member of the Henokiens. Blackstone Group --- Board Member. Past- President – Geneva Private Bankers association. Past –President – Geneva Chamber of Commerce and Industry. Monty Raphael. Quote.” ---- Doyen of U.K. Fraud lawyers. Consultant & Head of Fraud and Regulatory Dept. Member of Board of Directors of the Fraud Advisory panel. Member of the Law Society of England & Wales. International Bar Association Member. Past President—London Criminal Court Solicitors Association. Past Chairman ---of Anti Corruption Committee. Founder of Business Crime Committee of the International Bar Association. Pictet & Cie Bank & Peters & Peters. The bank and it’s officials deliberately withheld crucial documents requested under a High Court order. The bank and it’s officials deliberately withheld evidence from the Police , and one of it’s account managers Susan Broadhead gave a false witness statement to the police. Another one of it’s managers Nicholas Campiche ( Now Head of Pictet – Alternative Investments.) concocted a letter pretending to be a client and closed his account. The senior partner (Ivan Pictet.) sought to have numerous documents destroyed,along with those copies held in their London office of P.A.M. Initially stating that they were forgeries then their lawyers Peters & Peters – Monty Raphael – and the barrister Charles Flint.Q.C.) –later had to admit in Court that the documents were genuine. (1) It is a criminal offence for a bank to knowingly act for an undischarged criminal bankrupt in so far as it seeks to assist that criminal bankrupt in the fraudulent movement of monies. ( Money Laundering.) (2) It is a criminal offence for a bank to lie to the police and the bankrupts trustee in bankruptcy in so far as any knowledge of, or dealings with the bank was refuted . (3) A bank can be guilty of Contempt of Court if it fails to comply fully with the Courts order for discovery . (4) The banks contempt is further compounded if it fails to address its error after it is specifically drawn to the to its solicitors attention. ( Monty Raphael). (5) It is a criminal offence under the Financial Services Act to seek to destroy evidence that might be relevant to an investigation . (6) It is a criminal offence not to relinquish control of funds to the Trustee immediately the fact of the bankruptcy is drawn to the banks attention. (7) It is a criminal offence to lie or otherwise obfuscate the lawful and proper enquiries of the F.S.A. On Dec 9th,2008.— the complaint was sent to 150 Members of the House Of Lords. and 230 Members of Parliament. *** We thank ---David Cameron. M.P. ( Canary Wharf Speech.) Dec. 15th.2008. (1) Bankers who behave irresponsibly should face professional consequences. (2) If anyone is found to have behaved criminally they must be prosecuted. (3) The F.S.A. and the Serious Fraud Office should be following up every lead, investigating every suspect transaction . (4) We need to make it 100% clear –those who break the law should face prosecution. (5) That we make sure we root out any wrongdoing that may have happened, whoever is involved ,however high or well connected they may be. Quote. You can be the richest man in the world with the best lawyers that money can buy but you cannot win against a man who has got nothing left to lose and is telling the truth. FULL –STORY. Note *** Go to search box on “Google” and insert.( Ivan Pictet /Monty Raphael).-- then try it on – “ Yahoo”..
Vishwanath
Good one
Ramesh Manghirmalani
To ALL: Please read this: The Germans offered the names to any country that asked for it. Curiously, India, with a history of black money stashed abroad, has shown no interest in the list; it still has not made a request for details.On February 14, Deutsche Post CEO Klaus Zumwinkel was arrested in Berlin for Tax Evasion. His name was on a DVD that BND, Germany's intelligence agency,bought from a former bank employee of the LTG Group, run by Liechtenstein' s ruling dynasty.The disc had the names of 1,400 account holders of the LTG Group's Treuhand subsidiary. BND bought the list, dating from 2002, for Euros 4.2 million. Sixhundred of the names lived in Germany, with a possible tax evasion of around Euros 5 billion; Berlin launched 125 tax investigations.On February 25, German finance ministry spokesman Thorsten Albig announced that the names and details of the other 800 account holders would be given to their respective countries, at no extra cost. All the countries had to do was ask for them. Finland, Norway and Sweden promptly asked. The USA, Australia, France, UK, Ireland, Italy, Canada, New Zealand and Spain subsequently put in requests. The Americans are now investigating 100 potential tax evaders on that list. Independently, the British stumbled onto information on 400 Italians with accounts at aLiechtenstein bank, and leaked it to the media.India, however, which has long tried to uncover details of bank accounts in Switzerland and St Kitts, has not made a request. It should be made by the financeministry through the ministry of external affairs, for it is something that concerns the Central Board of Direct Taxes, the Directorate of Enforcement and the Central Bureau of Investigation.Though the government is aware of the developments in Germany, till date, no request has gone, informed sources told this website's newspaper. Incidentally, Liechtenstein' s Prince Hans-Adams II, the owner of the LTG group, has visited India, to a warm welcome by our political class.
KBC
I do not for one minute doubt the facts presented. I am sure that there are large amounts of money that have been removed from India (maybe more than $1.4 trillion; maybe less). But, how easy to point the finger at others and say it is all their fault!! Does the writer of this piece know of the Swiss law called "Entre-aide Judicaire"? If the government of India will present a prima facie case of corruption and name the appropriate individuals, the Swiss will open their bank books. This is what the Philippine government did to get back a good chunk of the money looted by Ferdinand Marcos. So how many cases have been presented by the government of India? I believe it was the English political philosopher Edmund Burke who once said " A people usually get the government they deserve." If India has a corrupt political system, it is because the Indian people voted for one! It is quite well known that most Indian voters first look at the caste and religion of the candidate; honesty and ability come a distant second. Just look at when it comes to hiring, etc. The first thought is "Oh! He is "xyz" (fill in the appropriate caste, religion, region, etc) like me so I will hire him. In other words honesty is not rewarded (and in fact is often punished). Now add to the above the absolutely idiotic taxation system in socialist India (thankfully changed now). Do a small experiment. For the next 6 months pay 95% of your income as tax. Also pay bribes to the various government officials so they do the work they are supposed to do for you. Now see if you still feel like paying taxes honestly after that! Once you have encouraged dishonesty, it is very hard to turn back. Now add again to all the above, the incessant demands of the politicians for money for elections, etc. and it is no surprise that you have so much black money! Taking an honest look in the mirror is a very hard thing -- but often very necessary.
Himalyan Development Society (HDS)
To be very honest with you, though ideologies of both CPI and BJP can be defective at some places, but CPI leaders are extremely honest but fanatics. BJP may sound fanatic but when they came to power, believe me their were rumors that time that they are too scared to take any money as had no idea how to do it? At the same time, they have only come once in power. Main culprits are Congress, whose founders were pure communists by nature but capitalists by blood, so had no idea, where India should go. Till 1991, we were communists country. By then it had affected the society so much that we can see its effects now when we are trying to improve society. Saying is something else but when you actually go ahead and try to do something in this country, believe me until you are someone, or huge bank account, no one will listen to you. This country has no values for ideas, whereas as are vedas had taught us to value vision and ideas more than any written text. So, today whether it is a CPI, BJP or anyone else, he is born out of the system since birth. Where system was laid by congress, So no grey haired individual has any idea what democracy is? Its we as present generation, who has to leave our high paying jobs and either become part of administrative staff or enter politics. But again fact is, if you do so, people will not support you. They all are so greedy and will know that you are honest and will never do their work and this country is full of favors and greed. Our country needs drastic change, a change which can either be brought by some Military general, extremely rich person who buy all people to vote for him and re-write democracy AND THERE IS NO OTHER SOLUTION. System will finish us if we try to make a change and please note that not politicians, its people who will not allow us to live.
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