Secret Files Expose Offshore Funds ICIJ Story.


International Consortium of Investigative Journalists (ICIJ) was founded in 1997.

Its mission is to expose the polluting industries, transnational crime networks, rogue states, and the actions of powerful figures in business and government.

For details Link is provided at the end of the post.

Most of us know that ill-gotten wealth by all and sundry, which includes lawyers, Doctors, Business houses and of course Politicians.

Thanks to a series of mind boggling scams in India, like 2G,ISRO, CWG,Maharashtra Irrigation,Helicopter and the forerunner Bofors, even a barely literate person knows that the money is being kept in Swiss Banks and that these banks are very secretive about disclosing the identities of their Customers.

Swiss Banking Laws-How to get Black Money Information ?


  On black money in Swiss banks,Indian Government has been dragging its feet by saying that Swiss banking laws do not allow information to be shared with others on the ground of ‘Client Confidentiality’. This is absolute non sense. The Indian Government is to have an agreement with the Swiss Government If the person has not declared […]

Tax Havens- All about laundering Black Money.


    Politicians form a class of their own. Through out the world they are united in stashing laundering money along with crooked businessmen. Unless ordinary Joe revolts this can not be stopped.   Tax Haven, Investment Haven, Asset Protection Haven.  What does it mean? Exactly what is meant by the term ‘tax haven’? A […]

Indian Black Money in Swiss Banks,1400 Billion dollars (INR 6300000,00,00,000 )


Zurich/ New Delhi: India has slipped to 70th position in terms of foreign money lying with Swiss banks and accounts for a meagre 0.10 per cent of total global wealth held in the country’s banking system.

While much hue and cry is made over huge amounts of illicit wealth stashed by Indians in Swiss banks, the latest official data released by Switzerland’s central bank shows that the money they owed to Indian clients at the end of last year was 1.42 billion Swiss francs (aboutRs. 9,000 crore).

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)
Do not for a moment feel elated as the money might have been shifted to Caribbean offshore account.!
I have a Post on this
Please read my blog on Rajiv Gandhi 2.5 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 !!!!