Tuesday, 26 November 2013

Bank whistleblower faces criminal backlash

Reyl is fighting back with its own accusations.
Reyl is fighting back with its own accusations. (Keystone)

A former private banker has been arrested in Switzerland on suspicion of breaking secrecy laws after blowing the whistle on undeclared accounts held by ex-French budget minister Jerôme Cahuzac.
The former Reyl & Cie employee also told the media that he knew of other tax dodging funds hidden away by other French ministers or ex-ministers. He was detained on July 5, the Federal Prosecutor’s Office confirmed on Saturday.

Reyl & Cie said it had pressed criminal charges last month, saying that its former worker had falsified documents and violated Swiss banking secrecy laws.

The claims of assisting tax evaders, along with allegations that it was implicated in hiding non-declared funds of Cahuzac, led to the Paris authorities opening an investigation into Reyl in May.

Reyl said it was left with “no alternative” after the French media were contacted by its former employee. The bank also stressed in a media release on Saturday that it held no accounts of French politicians.

Complaints mount

The charges are the latest in a string of criminal complaints against former Swiss bankers that have handed over confidential details of clients to other countries.

In June, a former Julius Baer IT worker was charged by canton Zurich prosecutors for allegedly selling information to the German tax authorities.

Last year Switzerland demanded the arrest of German tax officials for their role in buying Swiss bank data.

Switzerland also tried unsuccessfully to extradite former HSBC employee Hervé Falciani from Spain after he stole client information from the Geneva branch of the bank.

On the other side of the coin, several Swiss bankers, lawyers and other financial advisors have been indicted in the United States on charges of aiding and abetting US tax cheats.

1 comment:

Unknown said...

Swiss Bank Accounts. 2014.

Is your monies safe in these accounts ---- definitely NOT.
Would you get your money back if every body decided to withdraw all their accounts – NO WAY.
Economic Experts say that there would only enough money to repay 50% of their clients.
Are you going to be in the 50% --- that loose your money.-- Get it out NOW.

2012 -- - June. -- Published in Anglo INFO .Geneva.--- USA Trust Fund Investors were sent false and fraudulent documents by Pictet Bank.Switzerland. in order to collect large fees. ( Like MADOFF) ---Even after the SEC in the USA uncovered the fraud Pictet continued to charge fees and drain whatever was left in these accounts. Estimated that $90,000,000 million lost in this Pictet Ponzi scheme.

2012 - - - July. -- De – Spiegel. -- states – Pictet Bank uses a letterbox company in
Panama and a tax loophole involving investments in London to gain
German millionaires as clients.

2012 - - - August ---- German Opposition Leader accuses Swiss Banks of "organised crime."

All the fines that crooked Swiss banks have incurred in the last few years exceeds £75.Billion.
It is also calculated that the secrecy " agreements" with regards to tax evation by their clients will cost the banks another £450 Billion.( paid out of your monies.)

The banks are panicking --- the are quickly restructuring their banks ---- from partnerships --
to " LIMITED COMPANIES." ----- this will probably mean that in the future --- they could
pay you only 10% of your monies " if you are one of the lucky ones" ---- and it be legal.