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Home | Excerpts, from Switzerland Government Website | Excerpts collected from Private Websites Working on Switzerland banking system | ANOTHER PROGRAM FOR FAST-UNTO-DEATH | Representation 18-05-05 | Representation Dated 9th May 2005 | sp


I have gone through various policy statements made time and again by the Swiss authorities, containing contradictory facts with untenable and false claims of full cooperation with International community to prevent Corruptions, Terrorism and organised crimes, which virtually guarded by Swiss Banking secrecy. Swiss Banking secrecy causing severe damages to developments of victim countries in clear violation of the basic objectives and principles described in U N Charter for international cooperation in solving international problems of an economic, social, cultural, or humanitarian character, and in promoting and encouraging respect for human rights and for fundamental freedoms for all.   


Swiss Government built a strong bargain point that “the protection of a person private sphere is guaranteed by the Federal Constitution, which includes the financial privacy of bank clients. The professional obligation to confidentiality expected from a banker could be comparable to the one expected from physicians, lawyers or priests. It is subject to specific regulations and is protected by provisions of the law. Amending these laws would require the approval of the Swiss Parliament and - most probably - of the Swiss people through a referendum. As recently as last December, the Parliament discussed the eventuality to specifically mention the right to financial privacy in the Constitution, thus sending a message of the Swiss willingness to defend this principle well-rooted in our tradition.” Aforesaid admission it is ample clear that Swiss Government and Parliament are ready to infringe fundamental rights of the citizen of other countries, seriously affecting economical growths, through Swiss Banking Secrecy, and ready to provide protections to foreigners depositing for their illegal money in the garb of Constitutional protection, and defending its logics through untenable arguments.   


As per available figures, “Investment from foreign customers in Asset Management accounted for a share of approximately 57%. Of all assets held, 42.1% came from private clients and 47.5% from institutional investors. Commercial clients accounted for the remaining 10.4%.” Further admitting that: “Swiss financial sector manages roughly a third of all worldwide financial assets invested abroad. It consequently holds a leading global position in the rapidly growing asset management sector. Assets in customer accounts managed by Swiss banks as of end of 2001 amounted to CHF 3 320 billion.” Switzerland also has the world's 5th largest bond market and accounts for more than 1/4 of all the money flowing into the global hedge fund industry. Such 57% which arising to CHF 1 881 billion in Foreign Asset Management is invested by the foreign clients certainly from developing countries. Reportedly rest 43% is also not from the Swiss Citizens. Its important part accounted from admitted unclaimed assets in the Swiss Financial sector belongs to Corrupt Politicians, bureaucrats and unscrupulous businessmen from developing countries.   


Switzerland in arguments admitting that “Corruption” is another aspect of financial crime that has gained in importance in the international arena over the past few years is corruption, and claiming close co-operation with other countries to ensure fight organized crime and terrorism and to meet the challenges raised by globalization and technological developments. But, we have seen that for the Political reasons or otherwise, Swiss Authorities withheld respective evidences in the garb of the Constitutional Guarantee of the Banking Secrecy, provided protections to criminals (certainly not to original Citizen of the Switzerland) taken bribes in Bofors Gun deal held between Bofors and India Government. While, on the other hand Swiss Government time and again making false statements that “anonymous accounts” are not exists.” In fact Swiss Government is equally responsible for 9/11 attack on World Trade Center of New York, and sanction should have been imposed against it from United Security Council, as the most money of the Terrorist were deposited in Swiss Bank.


As per a roaming report a File is exists in India’s Civil Vigilance Commission, indicating that amount between about Rs16,00,00,00,00,00,000 and Rs50,00,00,00,00,00,000 (16 and 50 Lakhs of Crores of Rupees) ($US 800 Billions Dollars or so) of the Black money from India are deposited in Swiss and other foreign Banks by the Corrupt Politicians, Bureaucrats and unscrupulous Businessmen. Since, control of the Government is not free from embracement from the Powerful Corrupt Politicians, whose money might be in Swiss Banks, as a result, Government of India is not initiating the matter in appropriate manner.


Therefore my demands, from the Swiss Government are as under:

1)   “Switzerland Government should ensure supply of the authenticated or originals of Swiss documents related to Bofors Bribery Case, on or before 30th June 2005 to Indian Investigation Agency: Central Bureau of Investigation."

2)  “Switzerland Government should agree in principle to discloses the Amount with the names of the Countries in respect of “Unclaimed Assets”.

3) All details about all accounts having opened with the Swiss Financial Sector/Banks since 1948 with the names (wherever names available with the Banks) with the finance from India and other details to disclose before the Indian Authorities and to change its laws accordingly.


In case, the Swiss Government does not accept my demands within this period, I shall start my FAST UNTO DEATH out side Swiss Embassy at Delhi, on and from 1st July 2005.