India prosecuting money launderers |
The government of India has started legal proceedings against 60 people who have allegedly parked black or untaxed money in illegal foreign accounts. The money allegedly kept in these accounts could be more than Rs.1500 crores or US$ 250 million. Tax evasion in 60 cases has allegedly been established through independent investigation by Income Tax authorities. Some 250 individuals have admitted to Swiss bank accounts. Meanwhile, secret documents in a reported `Swiss Leaks` reveal names of over 100,000 alleged HSBC account holders, details of their accounts in Geneva and their balances for the year 2006-07, a total of over 100 billion Dollars. The 1,195 names from India allegedly include those of businessmen and politicians. The Swiss leaks reveal a list of people from 203 countries, including those of 1,195 Indians. Most of the accounts would have been emptied.
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