Direct link to scholarships offered by  Govt. of India

List of Private NGOs offering scholarships

Abu Marwan Abdal Malik Ibn Zuhr: ‘Avenzoar’

Abu Marwan Abdal Malik Ibn Zuhr, known in the west as Avenzoar, was

Ummid Assistant

IGNOU invites applications for online nutrition course

Welcome Guest! You are here: Home » National

Indian TV channel claims receipt of illegal Swiss bank details

Wednesday January 19, 2011 07:01:31 PM, IANS

Related Article

Why hide names of foreign account holders, asks apex court

The Supreme Court Friday asked the central government what was its difficulty in disclosing the names of people who have stashed away huge amounts of money in Swiss and German banks in Liechtenstein principality in Europe.   »

No request from India for secret bank data: Swiss Ambassador

New Delhi: Even as Wikileaks has threatened to reveal the names of 2,000 Swiss bank account holders, an Indian television channel Wednesday claimed it has received "explosive details" from a banker-turned-whistleblower.

"Headlines Today has received the explosive details from whistleblower Rudolf Elmer who has provided Wikileaks with the information collected during the 20 years he worked for Julius Baer, a highly reputed Swiss bank," the channel said.

"The Headlines Today investigation team scanned document after document looking for an Indian connection in the maze of Swiss bank accounts. The channel identified the names of several individuals and firms that could have operations based in India," it said.

"The one name that kept cropping up again and again was that of Annapurna."

The channel said there were three companies with name -- Annapurna Convertible Ltd (A/C number: 420331), Annapurna Leverage Ltd (A/C number:4270390) and Annapurna Convertible USD (A/C number: 431916) -- with accounts opened in the New York branch of Julius Baer.

The three, the channel added, had stashed away $57 million (Rs.259 crore), $18.6 million (Rs.84 crore) and $10.3 million (Rs.45 crore), respectively and all of them were managed by Pius Fisch of Fisch Asset Management.

The other name to come out was that of Asad Ali Khan and his wife Zahida, who was a co-account holder. Khan had siphoned off a huge amount of money to the Julius Baer Bank in Cayman Islands, the channel claimed.

"He and his wife were directors of a company named Unicorp Services in Cayman Islands," the channel said, adding: "Of course, there was no way to prove whether Khan was the real identity of the person who opened the account or who was behind Annapurna."

The channel said the names in the CD were most likely to be fronts for individuals and corporations. A majority of the accounts of companies for which details are available are based in Cayman Islands.

"I have to go through the data, just came across some information about India that's basically about Swiss Partner, a company which basically provided the insurance company for rich internationals and India is mentioned," Elmer was quoted as saying.

"I think that the owner of the former Julius Baer group is very much in the business of India. They actually hired Indian investment managers sitting in India and getting money out of India."

Elmer also reportedly explained to the channel the manner in which Swiss banks operated and also said Swiss companies had devised ways to hide the identity of original account holders so that they can't be tracked.

Elmer said while he was serving as the bank's chief operating officer in Cayman Islands, he found evidence that his bank was helping its clients evade tax. He said he was fired when he brought this evidence to the notice of his bosses in Switzerland.

But Julius Baer, in a clarification to Headlines Today, said Elmer was dismissed in December 2002 as he had "exhibited behaviour that was detrimental and unacceptable to the bank".

The bank said much of the information given by Elmer was either fake or falsified. Headlines Today also added that it cannot independently verify Elmer's documents that purportedly contain details of bank accounts from 1997-2002.






  Bookmark and Share                                          Home | Top of the Page


Note: By posting your comments here you agree to the terms and conditions of

Comments powered by DISQUS

More Headlines

Our blast probe better than that of federal agency: Goa cops

Feverish speculation ahead of reshuffle Wednesday evening

7.3 magnitude quake jolts Pakistan, Delhi rocked

Cabinet reshuffle today, elevation to some and new face likely

Britain says 'no' to publication of private Iraq notes

Russia's position on Palestinian state unchanged: Medvedev

Interim Tunisian government sworn in amid protests

Sohrabuddin killing: Cop withdraws plea to turn approver

BJP's Tiranga Yatra not to be allowed to enter Kashmir

Withdraw troops from schools, apex court tells Chhattisgarh

Rahman gets BAFTA nomination for '127 Hours' music

Court quizzes petitioner against puja on premises

Karnataka to promote small cities as tech-hubs

Beirut tense after draft indictment in Hariri case

Canadian varsity to set up first India Chair




Top Stories

Malegaon Blast: Nine Muslim accused seek bail

 Nine Muslim youths arrested in connection with the 2006 Malegaon blasts January 17  »

No evidence against accused arrested in '06 Malegaon blasts case: CBI

Was Malegaon Blast really a handiwork of Muslims?

'Difficult to defend charges after Aseemanand's confession'


Picture of the Day

Union Minister for Information and Broadcasting Mrs. Ambika Soni signing on Calendar, at the Official Launch of the Dainik Bhaskar- Junior Picasso, 2011 Desktop Calendar, in New Delhi on January 14, 2011.

(Photo: V. Rajan)


  Most Read

7.3 magnitude quake jolts Pakistan, Delhi rocked

Panic-stricken people rushed out of their homes - some of them reciting verses from the Quran - as a 7.3-magnitude earthquake shook Pakistan early Wednesday. Two women died and three people were hospitalised after suffering heart attack. The quake  »

Feverish speculation ahead of reshuffle Wednesday evening

Union Law Minister M. Veerappa Moily was amongst the leaders who called on Congress president Sonia Gandhi Wednesday as speculation intensified over the reshuffle »

Cabinet reshuffle today, elevation to some and new face likely


  News Pick

Russia's position on Palestinian state unchanged: Medvedev

Russia's position on a Palestinian state was unchanged from the 1980s, when it recognized a Palestinian declaration of statehood, visiting   »

Withdraw troops from schools, apex court tells Chhattisgarh

The Supreme Court Tuesday directed the Chhattisgarh government to get vacated within four months all schools, educational institutions and hostels being used as camps by security forces fighting the Maoists  »

BJP's Tiranga Yatra not to be allowed to enter Kashmir

The Jammu and Kashmir government Tuesday decided not to allow the Bharatiya Janata Party's (BJP) Tiranga Yatra to enter the state and also disallow any  »

BJP's Rath Yatra will worsen Kashmir situation: CPI-M

Interim Tunisian government sworn in amid protests

Tunisia's new transitional power-sharing government was sworn in Tuesday, with the exception of four ministers, including one from the opposition, who  »

Sohrabuddin killing: Cop withdraws plea to turn approver

The CBI Tuesday suffered a setback of sorts in the 2005 Sohrabuddin Sheikh staged shootout case when Narendra Amin, a suspended policeman and an accused who wanted to    »



RSS  |  Contact us

| Quick links



Subscribe to

Ummid Assistant






About us




Government Schemes











Contact us





      Disclaimer | Terms of Use | Advertise with us | Link Exchange is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

© 2010 Awaz Multimedia & Publications. All rights reserved.