Letter for Indian's

LOOK WHERE OUR MONEY IS GOING????
>
>
> Revelation on Swiss Bank Accounts "who can save india
> no one knows where tax
> payer money is going "
>
>
> Revelation on Swiss Bank Accounts
>
>
> This is so shocking . . . . . wish black money deposits was
> an Olympics
> event . . . . . India would have won a gold medal hands
> down.
> The second best Russia has 4 times lesser deposit. US is
> not even there in
> the counting in top five !! *India** has more money in
> Swiss banks than all
> the other countries combined !!!!*
>
> Recently, due to international pressure, Swiss govt. agreed
> to disclose the
> names of the account holders only if the respective govts
> formally asked for
> it. Indian govt. is not asking for the details . .
> . . no marks for guessing why ????
>
> We need to start a movement to pressurise the govt. to do
> so !!
> This is perhaps the only way, and a golden opportunity, to
> expose the high
> and mighty and weed out corruption !!
>
> Please read on . . . . . and forward to all the honest
> Indians to . .. . .
> like somebody is forwarding to you . . . . . and build a
> ground-swell of
> support for action !!
> *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 & 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
> 1. **India** ---- $1,456 billion
> 2. **Russia** ---$ 470 billion
> 3. **UK** -------$390 billion
> 4. **Ukraine** - $100 billion
> 5. **China** -----$ 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
> taxhavens 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 1 % of the
> world's population holds
> more than 57 % 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 CAN SAVE **INDIA** ?*
>
>
> FORWARD THIS EMAIL TO ALL INDIANS
>
>
> --
>

Swiss

Lid off Pandora’s box in Hassan case
ED’s findings have disclosed Khan’s plan to finance a $500 million project of Khashoggi in a notarized document signed by him on 29 June 2003 in London
Khushboo Narayan

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Mumbai: Transactions running into hundreds of millions of dollars, more links with Saudi arms dealer Adnan Khashoggi, a close friendship with well-connected Kolkata businessman Kashinath Tapuriah, and at least a passing acquaintance with two politicians.
These are just some of the findings of an ongoing investigation by India’s Enforcement Directorate (ED) into Pune-based real estate consultant Hassan Ali Khan, who has been charged with violating Indian foreign exchange laws by holding $8 billion (nearly Rs39,000 crore) in an account in UBS AG, Zurich. ED, which began the investigation in 2007, suspects the money has been laundered.
Also See Khan’s Fast Lane (Graphic)
Based on the findings, ED— that investigates violations of the country’s foreign exchange laws—is preparing to issue another so-called show cause notice (basically a request for information, backed by a legal threat) to Khan, his alleged accomplice Philip Anandraj, a Switzerland-based hotelier, and Tapuriah.
“We will serve him (Khan) and his associates another show cause notice under Fema (India’s Foreign Exchange Management Act) within two months. However, investigations under money laundering case may take six months before we arrive at a conclusion,” said A.K. Singh, assistant director of ED, who led the investigation.
On 29 December, K.N. Rao, special director of ED, had issued a show cause notice to Khan for the violation of Fema by holding $8 billion in his UBS account in Zurich.
Also Read Swiss hotelier distances himself from stud-farm owner on the run
Swiss hotelier wins 1st round in $8 bn money laundering case
ED gets stay from Bombay HC on returning Anandraj’s passport
RBI recalls UBS banking licence
Singh claimed UBS may not be the only bank where Khan has stashed his money and that there could be three other foreign banks where he has done so. “ED is in the process of gathering information on his (Khan) bank accounts with Credit Suisse, Credit Lyonnais and Bank Sarasin in Switzerland.”
Singh’s investigation report, which has been reviewed by Mint, reads like a crime thriller. It refers to bank transactions across continents, and to efforts by Khan, whom it describes as a scrap dealer from Hyderabad who called himself “Nawab” and claimed to be the great grandson of the Diwan (prime minister) of the Nizam of Hyderabad, to buy a luxury hotel in Switzerland, and his dealings with Khashoggi.
Khan, who also owns a few race horses, declined comment. His wife, Reema Khan, said, “The investigation is on and my husband is fully cooperating with the agencies. We would not like to make any comment at this point of time.”
Tapuriah, who was questioned by ED in January 2007, said over phone from Kolkata that he was unwell and had been asked by his doctor not to strain himself. “Hence, I am not fit to talk to you.”
Khashoggi connection
ED’s findings have disclosed Khan’s plan to finance a $500 million project of Khashoggi in a notarized document signed by him on 29 June 2003 in London.
A notarized document is certified by a licensed public officer who serves as an impartial witness to the signing of documents and establishes the authenticity of the signatures.
According to the investigation report prepared by Singh, and previewed by Mint, Khan had written “a private and confidential letter to Prabhu Guptara, director organizational development at Wolfsberg Executive Development Centre, Switzerland—a subsidiary of UBS—and asked for assistance in clearing up a situation” after UBS AG froze an account belonging to Khan, following a $300 million transfer from Khashoggi, labelling them as “funds from weapon sales”.
While the report is silent on the nature of the Khashoggi venture in which Khan was expected to invest or, indeed, how he met the Saudi arms dealer, it says that Tapuriah and Khan first met in the late 1980s.
At the time, the report says, Tapuriah was chairman of Incab Industries and was visiting Hyderabad to raise funds to revive his sick company.
“Khan’s name was referred by A.S. Chowdhary, who was an MP (member of Parliament), and Vijay Bhaskar Reddy of Andhra Pradesh, and was told that he (Khan) could arrange finance/funds from his sources and resources,” the ED report said, quoting Tapuriah.
The friendship between the two grew, and the Kolkata businessman claims to have helped Khan win contracts “for supply of scrap to Steel Authority of India Ltd and Tata Steel Ltd”.
The report claims Khan had $8.04 billion in his UBS account as on 8 December 2006. The report quotes a letter written by M. Rohner, wealth management executive at UBS, in 2006 that said: “Khan can withdraw $6 billion and was free to invest this amount as and when he chooses to do so and that the balance amount of $2.04 billion would remain bound with UBS until 15 January 2007 and after which Khan was free to invest the same as and when he chooses to do so.”
While investigations against Khan began in January 2007, it was only in February 2008 that the Mumbai Police booked him—for holding three fake passports.
Following this, Khan filed an anticipatory bail application in the Bombay high court, which was rejected. He remained at large, however and on 30 April 2008, a Mumbai court declared Khan a “proclaimed offender” after he failed to appear for a hearing at the court. After eight months, Khan surrendered at a Mumbai police station on 15 December 2008.
On 2 January, Khan was granted bail by a court in the fake passport case on condition that he would not leave India and appear before ED every alternate day for a month.