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What can you expect from these people who have declared war on corruption!? ( Sonia’s speech on corruption).
The November 1991 issue of Schweizer Illustrierte, the most popular magazine of Switzerland, carried an exposÃ© of 14 politicians from developing nations who had stashed their bribes in Swiss banks. It alleged that Rajiv Gandhi was one of them, and put his figure at 2.5 billion Swiss francs. Schweizer Illustrierte is not some rag; it sells some 2,10,000 copies. Does that account still exist, if the allegation is correct?
The Gandhi family has neither denied the allegations, nor taken legal action against the Swiss magazine or Indian politicians like Subramanian Swamy, who has charged that illicit monies are being recycled through the stock market.
An allegation does not become true simply because it is made. It must be substantiated. But as the recent exposÃ© of the 2G spectrum scandal indicates, it is the duty of government agencies to follow up when there seems to be some substance in the charge. If there is so much smoke, they must check out the fire. But the conduct of this Government, nominally headed by Manmohan Singh but controlled by the Uncrowned Empress and her heir apparent, has invariably been dishonest. A typical example is the answer given by the Ministry of Finance in Rajya Sabha on November 24, 2009 about Indian funds in Swiss bank accounts: “Efforts have been made from time-to-time to seek such information under the Double Taxation Avoidance Agreement (DTAA) between India and Swiss Confederation. However the Swiss Federal Tax Administration has expressed its inability to exchange the information regarding bank deposits of Indian residents as the information was not necessary for the application of the DTAA between India and Swiss Confederation, but was required only for the enforcement of Indian internal laws.” It also replied that “such information was not at their disposal under Swiss laws in the normal course of tax administration. Further in connection with the investigation of specific cases, Directorate of Enforcement, if deemed necessary, seeks information from foreign jurisdiction in respect of accounts held by Indian nationals/entities in banks located overseas. However no roving enquiries are made. There is no verifiable information available about money deposited with Swiss banks by Indians.”
A stunning exposure on Sonia Gandhi’s secret billions in Swiss banks came, surprisingly, from Switzerland itself, where the world’s corrupt stash away their booty. In its issue of November 19, 1991, Schweizer Illustrierte, the most popular magazine of Switzerland, did an exposé of over a dozen politicians of the third world, including Rajiv Gandhi, who had stashed away their bribe monies in Swiss banks. Schweizer Illustrierte, not a rag, sells some 2,15,000 copies and has a readership of 9,17,000 — almost a sixth of Swiss adult population. Citing the newly opened KGB records, the magazine reported ‘that Sonia Gandhi the widow of the former Prime Minister Rajiv Gandhi was controlling secret account with 2.5 billion Swiss Francs (equal to $2.2 billion) in her minor son’s name’. The $2.2 billion account must have existed from before June 1988 when Rahul Gandhi attained majority. The loot in today’s rupee value equals almost Rs 10,000 crore. Swiss banks invest and multiply the clients’ monies, not keep them buried. Had it been invested in safe long-term securities, the $.2.2 billion bribe would have multiplied to $9.41 billion (Rs 42,345 crore) by 2009. If it had been put in US stocks, it would have swelled to $12.97 billion (Rs 58,365 crore). If, as most likely, it were invested in long-term bonds and stocks as 50:50, it would have grown to $11.19 billion (Rs 50,355 crore). Before the global financial meltdown in 2008, the $2.2 billion bribes in stocks would have peaked at $18.66 billion (Rs 83,900 crore). By any calculation the present size of the $2.2 billion secret funds of the family in Swiss banks seems huge — anywhere between Rs 43,000 plus to some Rs 84,000 crore!