Swiss Leaks launched tonight: $687.3m deposits in HSBC Swiss bank accounts by clients associated with Malta
Published:
February 8, 2015 at 11:01pm
Despite its tiny size and minuscule population, Malta ranks 54th on the list in terms of money deposits in the leaked HSBC Swiss bank account files.
The figures cover 82 bank accounts opened between 1982 and 2006 by 71 clients associated with Malta, 24 of whom are actually Maltese.
Swiss Leaks is a project coordinated by the Washington-based International Consortium of Investigative Journalists, working with The Guardian, Le Monde and BBC Panorama.
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http://www.icij.org/project/swiss-leaks/explore-swiss-leaks-data
http://www.icij.org/project/swiss-leaks/banking-giant-hsbc-sheltered-murky-cash-linked-dictators-and-arms-dealers
The files feature people who figure in legal proceedings, such as Vladimir Antonov, the former owner of an English soccer club, Portsmouth FC, who faces trial in Lithuania over an alleged €500 million bank fraud; Margulan Seisembayev, a Kazakh banker accused by the Alliance Bank of looting its assets and Tancred Tabone, the former head of the Malta state oil company Enemalta, who is facing prosecution for allegedly demanding bribes.
In a statement, Tabone’s lawyer said his client denies all charges and added that he “has formally authorised the Swiss authorities to provide all that information. … His fiscal affairs in that respect are in order.” Antonov is listed as a beneficial owner on an account worth $65 million. Seisembayev is listed as beneficial owner of multiple accounts.
Just to think that there men in prison for misappropriating 100 euros from the VAT Dept.
The BBC this morning reported that 99.8% of the cases were related to tax fraud. Nice to know that Mr Tancred Tabone reckons that he falls within the other 0.2%.
I agree with Lawrence Gonzi’s statement that this fraudster’s place is in jail.
[Daphne – Please bear in mind that any number of those Maltese account holders may have regularised their position as there have been at least two amnesties on overseas investments/deposits that I can recall since then, including one under this government.]
“his fiscal affairs are in order”. You can say that again.
Specifically he said his fiscal affairs are “in that respect” in order. Meaning they may not be in others.
On China:
Whilst the Chinese authorities masquerade China as a normal and up-and-coming country, concentration camps and political incarceration remain widespread, with many internees suffering in indescribable conditions, for many decades, simply for being Christian, or in opposition to the communist state and agenda.
ZENIT news agency, today published this news item below. Apart from the inhumanity and beastliness of imprisoning a very elderly man simply for having a ‘faith’, and the violation of the most basic human rights – right to freedom and right to religious freedom, right to expression and right to basic sanitation and living conditions, China continues to impose horrific totalitarianism on its oppressed population.
With governments like Malta’s going completely overboard to court China and normalise it, and treat it like a ‘normal’ country, the authorities in China will continue to abuse of their people with impunity, whilst despising the West for kowtowing. Here is the news report – absolutely awful. Forget that he is a bishop – this is an elderly man whose family, even after his death, and many years of not knowing what had happened to him, are still put through the agony of not knowing if they will have his body back – or even his ashes.
———————————————
Catholic Bishop of Chinese Underground Church Dies at 94
Bishop Cosmas Shi Enxiang Imprisoned in Secret Detention Facility for 14 Years Prior to Death
By Staff Reporter
ROME, February 02, 2015 (Zenit.org) – A Chinese Bishop of the underground Church who was arrested 14 years ago and held in a secret location has died.
According to UCA News, the great-niece of Bishop Cosmas Shi Enxiang of Yxian said she was informed of his death by Baoding city officials on Friday, though she was not informed of the day and cause of his death.
“We are now waiting for the prelate, whether it be his body or ashes, to be returned to Shizhuang, our hometown, before we decide what to do next,” she said. “My parents and the bishop’s other siblings are particularly sad. They had been unsuccessfully trying to discover his whereabouts for many years. Now the answer to their questions is that he is dead.”
Government officials have not informed the family if and when they would return the late bishop’s body to his family. Another bishop of Baoding, Bishop James Zu Zhimin, still remains imprisoned in a secret detention facility, following his arrest in 1997.
Born in 1921, Bishop Shi was ordained to the priesthood in 1947. He was first in 1954, and later one served time at a labor camp from 1957-1980. Ordained secretly as a bishop in 1982, he was then made ordinary of the diocese of Yixian in 1995.
He was again arrested in 1989 and released 4 years later after mounting international pressure on the Chinese government. He was arrested for the last time on Good Friday, 2001.
And this after only one year of reduced water and electricity bills.
Just wait until people start saving those 4 cents on petrol and diesel.
Malta – Svizzera fil-Mediterran
Do the non-Maltese include Mintoff’s daughters?
And we are speaking of just one Swiss bank, HSBC. God knows what is deposited in other Swiss banks.
In 1987 George Bonello Dupuis had said that Maltese investments abroad probably amounted to around 1 billion Maltese Lira.
Any Gaddafi associates listed under Malta?
Just to put things in perspective, that’s around 35% of the GDP.
Malta Lebanon fl-Alpi.
Why is this not surprising? As pocoyo says, what would be interesting is knowing about (the totals from) the other Swiss accounts.
Personally, I’m interested in knowing about:
i) Shiv Nair and his associates;
ii) Any cash linking Libyans and Maltese;
iii) Any cash linked to Maltese politicians past and present.
Much better to stash one’s millions under the mattress, isn’t it.
O.K. siehbi?
Baxxter, get your maths in the proper perspective.
According to your erroneous calculation, Malta’s GDP is around $1.9 billion when in fact it is $9.6 billion. Therefore the amount is less than 7% of GDP.
Moreover the figure quoted “is associated with Malta” – those are not all accounts held by Maltese citizens. Malta is a financial centre, where bank assets are almost eight times Malta’s GDP. Get the perspective now?
Baxxter Ekonomista tas-Somalia.
http://data.worldbank.org/country/malta
There’s no need to be rude and defensive. These are the bits you haven’t read:
“82 client accounts opened between 1982 and 2006 and linked to 139 bank accounts.”
“71 clients are associated with Malta. 34% have a Maltese passport or nationality.”
“There are legitimate uses for Swiss bank accounts and trusts. We do not intend to suggest or imply that any persons, companies or other entities included in the ICIJ Swiss Leaks interactive application have broken the law or otherwise acted improperly. If you find an error in the database please get in touch with us.”
Not ShivNair , I am not being defensive , but stating facts derived from the very passage you quoted , rather than being sensational with wrong information.
It is Baxxter who trashes everything Maltese, all the time – ” Malta Lebanon fl-Alpi “
Not at all, Freedom5. I think it’s these individuals who trash everything Maltese, not Baxxter.
The sooner these ‘entrepreneurs’ are exposed for their limited world view, the better.
When did this place ever discuss the social mandate and spatial prerogative of private enterprise? Saturated with frustrated psychos whose only training ground is a triangulated trek between the Kazin Malti, a cosy restaurant and the lodge.
Planning an order and the right to an environment is primarily an economic and political affair. AD inherently distracting in its faux idealism.
So many taboos to break in this little republic of ours.
Incidentally, no names are accessible through the ICIJ database interface.
According to the leak website 98% (or thereabouts) or $625m is just one Malta-linked client.
Having read the ICIJ articles, the phrases “filthy lucre” and “filthy rich” instantly spring to mind.
It is truly disgusting how these people use their wealth and power to evade paying taxes; but what is even more appalling is that the global banking system and many governments are complicit or turn a blind eye.
The rich get richer and the poor get prison.
Kudos to the investigative journalists for sharing their findings.
L-ahjar izzommhom cash id-dar, bhalma jaghmel Manuel Mallia.