According to the Forbes' list of Indian Billionaires for 2006, steel
tycoon LN Mittal tops the list with wealth of $33.7 billion or
approximately Rs 1,49,661 crores. Mukesh Ambani comes second with
$19.5 billion or Rs 86,585 crores and his brother Anil Ambani third
with assets of $17.6 billion or Rs 77,7140 crores.
Azim Premji is 21st on the list with wealth but Hasan Ali actually
surpasses even Azim Premji to be among the top four.
Hasan Ali, a somewhat mysterious Pune based racehorse owner is
reported to have illegally transferred more than 35000 crore sums of
money to seven Swiss bank accounts.These accounts have been frozen
at the request of the Indian government.
Hasan Ali is reported to have links with politicians and big
businessmen. Apparently, money was laundered through Mauritius. Ali
who races horses at the Bombay Race Course made his mark in the city
approximately 10 years ago. He is married to the daughter of a
trainer at the Bombay Race Course and has begun investing in horses.
The Enforcement
Directorate (ED) on March 7 froze seven out of 10 Swiss bank
accounts of the trader operating from a six-storey building in
Koregaon Park area of Pune..
Money used to be deposited into the trader's accounts from Britain
via havala or unauthorized money transfer channels, the ED sources
said, adding that the investigations began in January this year with
a raid on the trader's office following a tip-off.
Income Tax (IT) authorities in Mumbai and Delhi claim to have
stumbled upon a huge money-laundering racket in which money is sent
to Mauritius through hawala and it comes back to India as investment
in stock market and other areas.
Senior Income Tax officers said the department stumbled on it a
month-and-a-half ago when they raided a stud farm owner in Pune, who
owns a flat on Peddar Road in Mumbai as well. During the search, the
officials said they found details of accounts in Swiss banks in
various names in which Rs 20,000 crore was deposited. Some big names
from India’s political and corporate worlds held these accounts, the
I-T officials said.
According to the treaty, the capital gain earned from investments
from Mauritius is not taxed in India. The investor benefits because
in Mauritius there are no tax on capital gains. I-T authorities
suspect the profit was then routed to Swiss banks.
It is interesting
to observe some frauds and money laundering cases in India to have a
better understanding of the cause of concern. We have tried to give
briefs on the capital market scams associated with money laundering
- IPO issue (with IDFC, Yes Bank and GTB), Ketan Parekh, Abdul Karim
Telgi, Harsha Metha, Bofor and Haridas Mundra.
Surely India is shining.....
This just proves
the point that India is a poor country of rich people.
Honest people can
never live in India. Tough, lives can never be rich and comfortable.
This is “Congress kaa Haath, Aam Aadami ke saath”
Really India is
the great stepping towards becoming developed country before 2020.
This is the
country where Quarrottocchi could be run away with the help of
Government and drew Bofors’ kick back Rs 21 crore from his London
bank accounts because of the letter of Indian Government. This is
the country where one can have staggering assets of 35000 crores and
still not be questioned by anyone for years! This is the wonderful
country of the world where foreign citizen can become an MP by
simply hiding their murderous background like Mr Subba. No force in
India will be able to do anything to Q, Ali or Subba.
You may find the
details of the following to know more about the Congress and Nehru
Gandhi dynasty.
(1) IDFC, Yes
Bank, GTB IPO, 2005 Scam : In the IPO scam some 47,000 fake demat
accounts in the IDFC issue, over 10,000 fake accounts in the Yes
Bank issue and at least a dozen are still to be investigated.
(2) Ketan Parekh,
2001 Scam: The scam shook the investor's confidence in the overall
functioning of the stock markets. By the end of March 2001, at least
eight people were reported to have committed suicide and hundreds of
investors were driven to the brink of bankruptcy.
The companies in which Ketan Parekh held
stakes included Amitabh Bachchan Corporation Limited (ABCL), Mukta
Arts, Tips and Pritish Nandy Communications besides others.
(3) Abdul Karim
Telgi , 1994 Scam : Telgi, was arrested in 1991 by Mumbai police for
fraud. Telgi acquired a stamp paper licence from the Government of
India. He began printing fake stamp paper.
A videotape emerged in September 2006 of Abdul Karim Telgi taking a
narco-analysis test. Under the influence of the truth serum, Telgi
supposedly blurted out the names of Nationalist Congress Party
leaders Sharad Pawar and Chaggan Bhujbal.
(4) Harshad Mehta
1992 Scam: Mehta and his brothers were arrested by the CBI on for
allegedly ``misappropriating” (in 1992) more than 27 lakh shares of
about 90 companies. He was arrested and banished from the stock
market with investigators holding him responsible for causing a loss
of more than Rs 4,000 crore to various entities.
Mr Mehta again raised a furore in 1995 when
he made a public announcement that he had paid Rs 1 crore to the
then Congress President and Prime Minister, Mr P.V. Narasimha Rao,
as donation to the party for getting him ``off the hook.''
(5) Haridas
Mundhra Scam, 1957 : The Mundhra scandal was the first few
successful trial of a financial scandal in independent India.
An
explosive disclosure of the surreptitious deal in Parliament by
Prime Minister Nehru's son-in-law Feroze Gandhi, in 1958, led to a
nationwide furore and forced the government to appoint a one-man
commission headed by Justice Chagla. He conducted a swift and
transparent 24-day public inquiry, which led to the resignation of
the then Finance Minister T T Krishnamachari and punishment of the
guilty in less than two years.
“The Law rides
the Poor and the Rich ride the Law”, which is reflection of the
functionality of societal setups in general, irrespective of their
maturity or being a developed/developing economy.
Is
deposit in Swiss banks for safekeeping?
Does Nehru-Gandhi dynasty follow spelled dynasty of Kazakhstan in
Bofors, Oil for Food and other scam? In April 2002, Kazakhstan's
government finally admitted that the president, Nursultan Nazarbayev,
had foreign (Swiss) holdings, explained as money sent abroad for
safekeeping.
Bil Clinton
pardoned Bandit Mark Rich
Marc Rich the
commodity bandit and "spook" was interwoven with the White House of
George Bush The Elder and later, Bill Clinton. The book author
described him, "Marc Rich, the man whom the United States Justice
Department privately called the most corrupt corporate executive in
America". ["Metal Men", page 13.] By 1990, Rich played such a game
which
became one among
many reasons to downfall of USSR. He was sentenced to
325 years in
prison but he was pardoned by Bill Clinton at the end of 2000.
Congress follows Bandit Mark Rich
It is expected
that the facts in the Volcker Report be covered up the way several
transgressions of Indian VIPs have been in the past, the better to
blackmail them with later.
Marc Rich the
commodity bandit and "spook" was interwoven with the White House of
George Bush The Elder and later, Bill Clinton. The book author
described him, "Marc Rich, the man whom the United States Justice
Department privately called the most corrupt corporate executive in
America". ["Metal Men", page 13.] By 1990, Rich was a key player in
the huge, mostly unpublicized Russian ruble affair, an attack by the
American CIA and worldwide banks fronting for them, against the
Soviet currency which led to the downfall of the Moscow government.
The result was the dissolution of the Soviet Union into
fighting-with-each-other provinces, each a fiefdom for mineral
exploitation and speculation, Marc Rich's specialty. Sentenced to
325 years in prison but he was pardoned by Bill Clinton at the end
of 2000.
Masefield
The company,
Masefield, mentioned in the Volcker Report as having managed the
transactions for Natwar Singh and the Congress, is a Zug-based
oil-trading company controlled by protégés of Marc Rich.
It is a
most humorous joke of the year
My
study shows that Switzerland in the world’s alone country who takes
deposit of the all briberies corruption currency on the condition
that Swiss will not disclose the identy of those. It means Swiss is
a fort an umbrella to hide for all corrupt guns of the world. So
Swiss is the boss of all corrupt bribery personalities of the world.
Legally openly Swiss can’t be blamed but in fact it is the only
country which should be blamed. 50% corrupt bribery kickback
receivers can be punished if Swiss does not hide the identies of
those corrupts who deposited the money in Swiss banks.
Switzerland is for international Economic Criminals
You don't need to
fly to Switzerland to open a Swiss bank account. You may open a
regular postal Swiss bank account by simply filling out a short
online form at the Swiss bank's web site.
Switzerland
is for international corrupt bribers and kickback takers economic
criminals many of whom have offices there. The Swiss have made it
almost impossible to recover ill-gotten money, once they are given
charge of it. Marc Rich is one of Switzerland’s wealthiest
residents, and is one of its largest taxpayers. He is discreetly
protected by the Swiss police and security apparatus, as many
journalists seeking information have found out. India should not
expect any real cooperation or evidence from that Canton or
Switzerland. This is also why merely sending a letter from the MEA
or from Justice Pathak to the Government of Switzerland will produce
Bofors-like results.
Return Swiss
Banks deposit to the people
I and others are
writing to force corrupt leaders especially Sonia Gandhi to follow
Sani Abacha. The glare of international publicity on Switzerland
concerning the criminality of erstwhile Nigerian dictator Sani
Abacha led to the unearthing and returning to Nigeria of 730 million
US dollars that were looted and stored by the dictator in Swiss
banks.
Do you feel India
is your country? Don’t talk gimmicks to win vote bank. You gave
slogan ‘Garibi Hatao’. Congessmen become richest. Your
slogan;’Congres ka hath, Aam adami ke saath’ remains empty.
Tandoor Mattoo Jessica’s blood on Congress Hands. Congress was born
by foreigner and still it is as playboy toys in the foreign hand.
Don’t say, your mother in law your husband and you did it. India is
not a poor country. If yes then please return the money of the
country to the country which you and others deposited in Swiss and
other banks.