My good friend Thiru Thevangudi Radhakrishnan, sincerely working for the good governance n India, and Attorney by profession in USA, sent another Article published in the Washington Post, and questioned that when the US government has the courage to take such bold and timely action even against such fraudulent Swiss Banks so as to compel them to disclose the secret funds hoarded in Swiss Banks, WHY the Government of India is just silent on the subject? My Comments: Our Honest Economist Prime Minister, cannot work against the will of his Boss, as such dilatory tactics is mandate of the working system of the Government functioning against the principal of the accountability, in such a delicate issues, in which people having in powrs are also have vested interests. On 9th August, 2007, I submitted an application to Shi Kamal Dayani, Central Public Information Officer, Prime Ministers Office, under Section 6 of Right to Information Act, 2005, and wanted to know that what are the reason and hurdles in rectification of United Nations Convention Against Corruption (UNCAC)?, contending therein that It is assumption of Indian people that large amount of money is transferred through Hawala by corrupt politicians, bureaucrats and mafia-criminals in Banks of Switzerland taking advantage of maintenance of secrecy of Bank Accounts under Law of Switzerland. Now, about two years ago United Nations Convention Against Corruption (UNCAC), gave a chance to retrieve such money from Switzerland , provided India make appropriate law to that affect to recover such stolen Indian Money and prevent them to retain such money any further. But, till date India not ratified such Convention. Reply was justified that the Government is not interested to ratify the Convention as the ratification may seriously effects the black money of the powerful politicians, bureaucrats and Mafia activists. Message of Thiru Thevangudi Radhakrishnan Ji Dear Milap ji, Forwarding another news item which appeared in today's Washington Post re. Filing of Charge Sheet by the US government against top Swiss Banker of UBS Bank, Switzerland , for helping 20,000 US clients to defraud the US Internal Revenue Service (Incometax Department) to hide $20 billion in the Swiss Bank UBS. Whereas the US government has the courage to take such bold and timely action even against such fraudulent Swiss Banks so as to compel them to disclose the secret funds hoarded in Swiss Banks, the Government of India is just silent on the subject. When will they wake up and take some positive action to unearth the reported huge amount of $1400 billion concealed by anti-national Indians in Swiss Banks? If only such secret accounts are traced and brought to light, India will be a Developed country and poverty will be wiped out altogether. Curiously, none in the ruling party or in the oppositiion dare to embark on such a crusade, as obviously all politicians are hand-in-glove in such criminal conspiracies.
TP Radhakrishnan News published in the Washington Post:- Top UBS Executive Indicted In Florida Swiss Banker Faces Conspiracy Charge By David S. Hilzenrath Washington Post Staff Writer Thursday, November 13, 2008; Page D01 A senior Swiss banker has been indicted on charges of conspiring to defraud the U.S. government by helping about 20,000 U.S. clients hide $20 billion in assets from the Internal Revenue Service. The indictment of Raoul Weil, a top executive at Swiss banking giant UBS, alleges that he conspired with a host of others at his bank, overseeing a business that used encrypted laptops, numbered accounts and counter-surveillance techniques to help American customers conceal their identities and evade taxes. The bank marketed secret Swiss accounts to U.S. clients and generated about $200 million a year in revenue from the operation, according to the federal indictment unsealed yesterday. Bank employees claimed "that Swiss bank secrecy was impenetrable," the indictment said. The indictment is part of a larger clash between the U.S. government and the tradition of secrecy that has been central to Switzerland 's lucrative banking industry. It ratchets up the government's pressure on UBS to relinquish client secrets. The indictment indicated a possible line of attack against the bank itself, alleging that employees based in Switzerland surreptitiously provided banking services and investment advice in the United States without the proper licenses or registrations. Weil, who turns 49 today, and other executives were warned about improprieties in the cross-border business but would not rein it in because it was too profitable, the indictment states. Weil's attorney, Aaron Marcu, said his client denied wrongdoing. "Today's indictment is totally unjustified and without any factual basis. Mr. Weil denies any suggestion that he was aware of, engaged in or tolerated any illegal conduct in the operation of UBS's U.S.-cross-border business," Marcu said in a statement. Justice Department spokeswoman Alicia Valle said that Weil is believed to be in Switzerland and that Switzerland does not extradite its citizens for any crime. In targeting Weil, the government has reached into UBS's inner sanctum. UBS's Web site said Raoul Weil was head of UBS's wealth management international business from 2002 to 2007. He has since been promoted and is one of a dozen members of a top management committee that answers directly to the UBS board, according to the UBS site. In a statement, UBS said Weil would give up his duties until the case is resolved. The company, which stopped providing cross-border private banking services to U.S. clients in July, pledged to cooperate with the investigation. Other bank employees, including executives "at the highest levels of management," are unindicted co-conspirators, the indictment says. The indictment, handed up by a Fort Lauderdale, Fla., grand jury, alleges that bank managers organized a meeting in Switzerland with outside lawyers and accountants to discuss "the creation of structures and other vehicles" for clients who wanted to conceal their accounts from tax authorities. Employees helped clients prepare IRS forms that falsely stated such "offshore structures" were the owners of their accounts, the indictment adds. The bank allegedly trained employees to conduct business discreetly by using mail that would not show the bank's name, by changing hotels while traveling, and by using encrypted computers when visiting clients in the United States . UBS, which has extensive legitimate operations in the United States , has been the focus of investigations by the Justice Department, the IRS and the Securities and Exchange Commission. The information UBS provided on those clients related to wire transfers from their UBS accounts in the United States to their UBS accounts in Switzerland , the source said. The clients were not given a chance to object to the disclosure -- a right they would have had if the information were coming from Switzerland , the source said. The source spoke on condition of anonymity to avoid potentially adverse consequences of speaking openly. Asked for comment on the disclosures, a UBS spokesman drew a distinction between information stored in the United States and information kept in Switzerland . "Client data located in Switzerland has not been provided to the U.S. authorities," bank spokesman Michael Willi said. The disclosure of the money transfers contrasts with assurances UBS gave clients several years ago, when some feared UBS's acquisition of the Paine Webber brokerage firm in the United States would make it more vulnerable to pressure from the U.S. government. "We are writing to reassure you that your fear is unjustified and wish to outline only some of the reasons why the protection of client data can not possibly be compromised upon," bank executives wrote in a Nov. 4, 2002, "Dear client" letter. Even if a client refused to sign a W-9 form, the executives wrote, "under no circumstances will his/her identity be revealed." Staff researcher Julie Tate contributed to this report. TRUTH SHALL ALWAYS PREVAIL Milap Choraria Editor: Suchna Ka Adhikar / RTI TIMES National Convenor : Movement for Accountability to Public (MAP) http://milapchoraria.tripod.com/msp http://rtitimes.net [Non-text portions of this message have been removed] ------------------------------------ Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/rti_india/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/rti_india/join (Yahoo! 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