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Dated 15th June 2005

To,

Mr. Paul Wolfowitz Esq.,

President,

World Bank,

 

Hon’ble Sir,

 

Subject: Illegal Money protected by the Law of Swiss Banking Secrecy

 

First of all I must refer about me:

a)                  I am a life member of Transparency International, India Chapter, since its inception.

b)                  Under the leadership of Shri S. D. Sharma, the Founder Leader of TI India Chapter and Renowned Freedom Fighter, we four persons sat on Indefinite Fast demanding establishment of “Lokpal” an Indian Ombudsman System. After two day we withdrawn our Fast under strong persuasions from Renowned Lawyer of India Shri Soli Sorabji, Shri Raj Mohan Gandhi (Son of Late Mahatma Gandhi) Justice Rajinder Sachar and one Renowned Journalist with assurance that they have been convinced that the then Prime Minister is keen to enact the Law at earliest. But, subsequently, assurance was failed.

c)                   Now once again our Notice is pending with the present Government headed by Dr. Man Mohan Singh that in case Government fail to enact the law to establish Lokpal Institution, before its 2nd Anniversary in Power, then again we four (one person new from Orissa-India) will sit on FAST UNTO DEATH on and from 16th May 2006, as also reported in last issue of Transparency International India Chapter Bulletin.

d)                  I am fighting against corruption since my childhood: http://milapchoraria.tripod.com/msp

 

World Bank has identified corruption as the single greatest obstacle to economic and social development. It undermines development by distorting the rule of law and weakening the institutional foundation on which economic growth depends. The harmful effects of corruption are especially severe on the poor, who are hardest hit by economic decline, are most reliant on the provision of public services, and are least capable of paying the extra costs associated with bribery, fraud, and the misappropriation of economic privileges. The ultimate goal of the World Bank's strategy to help countries address corruption is to help countries move from systemic corruption to an environment of well-performing government that minimizes corruption's negative effect on development. Corruption sabotages policies and programs that aim to reduce poverty, so attacking corruption is critical to the achievement of the Bank's overarching mission of poverty reduction. But, intention of Swiss Government is otherwise different than what World Bank had intended.   

 

Time and again this appears that most of the powerful but corrupt politicians and Bureaucrats, unscrupulous businessmen, organised mafia and terrorists protecting their flow of illegal source through depositing in the Financial Sectors of Countries, which providing full protections to such money in the garb of Banking Secrecy. In this respect till today the name of the Switzerland is at the Top, which providing full protections to illegal money, through banking secrecy protected through a strong but untenable 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”. Such policy of the Swiss Government is completely against the Purposes of establishment of the United Nations as described and defined under UN Charter under Chapter I Article 1, and causing serious threats to aforesaid goal fixed by the World Bank. From the aforesaid Policy it is ample clear that Swiss Government and Parliament continuously are going to infringe fundamental rights of the general public of other countries, -wherefrom illegal money is coming to Swiss Financial Centre-, which seriously affecting economical growths and development of such countries, in the garb of alleged Constitutional protection based on untenable arguments and logics.   

 

On the one hand Switzerland admitting that “Corruption” is another aspect of financial crime that has gained importance in the international arena over the past few years and claiming its close co-operation with International Community to ensure fight against corruption, organized crime and terrorism and to meet the challenges raised by globalization and technological developments. But, contrary to such commitment, we have seen that Swiss Authorities withheld respective evidences in the garb of the Constitutional Guarantee of the Banking Secrecy, thus provided full protections to influential criminals, who taken bribes in Bofors Gun Deal between Bofors Company and India Government. Similarly, Swiss Government time and again making false claims that “anonymous accounts” are not exists in Switzerland. In fact Swiss Government is equally responsible for 9/11 attack on World Trade Center of New York, as the most money of the Terrorist were routed through Swiss Banks. Therefore, if Swiss Government not ready to remove such embargo against “Right to information”, the worldwide, accepted principle necessary for democratic governance, then Security Council should impose sanctions against Switzerland, for ignoring the purpose of the establishment of UNO, and World Bank and IMF also takes appropriate action against it.

 

Financial figures available from Swiss Government is also not corroborating with the claims of Swiss Government. “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%”. 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, through hiding routes. 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, unscrupulous businessmen, and others from developing countries.   

 

As per a roaming report a File is exists in India’s Civil Vigilance Commission, indicating that amount between $US 400 - 1100 Billions Dollars 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 but Corrupt Politicians, whose money might be in Swiss Banks, as a result, Government of India is not initiating the matter in appropriate manner.

 

Therefore I have placed my following legitimate demands with the Swiss Government:

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.           

With Best Regards,

Yours truly,

(MILAP  CHORARIA)

Convenor : Movement for Accountability to Public (MAP):

http://groups.yahoo.com/group/MAP_INDIA            http://milapchoraria.tripod.com/msp

Columnist : For Several DAILY Newspapers in India

Life Member of India Chapter of Transparency International and associated with several other organisations

Author: “A MODEL OF NEW CONSTITUTION FOR INDIA”

and

“MYSTERIES of POLITICS-CRIME-NEXUS”

B-5/52, Sector-7, Rohini,  New Delhi-110 085 (INDIA)

Email: Milap_choraria@yahoo.com

Copies to  

1.        His Excellency President of the Swiss Confederation Mr. Samuel Schmid,

2.        His Excellency Vice-President of Swiss Confederation Mr. Moritz Leuenberger

3.        Hon’ble Mr. Joseph Deiss Head of the Swiss Federal Department of Economic Affairs

4.        Secretariat-General FDF Swiss Federal Department of Finance

        5.   Ms. Micheline Calmy-Rey, Head Swiss Federal Department of Foreign Affairs (Through Message Box): http://www.calmy-rey.admin.ch/e/contact/cntrequest.aspx

6.       Swiss Political Affairs Division II - Asia / Pacific

7.       Swiss Political Affairs Division V - Economic and Financial Affairs

8.       Swiss UN – Coordination

9.       Swiss Federal Banking Commission

10.           Smt. Sonia Gandhi, President of Congress Party and Chairperson of UPA; through self Email ID and also through  Smt. Ambika Soni and Shri Anand Sharma, 

11.           Shri Lal Krishna Advani, Leader of Opposition in Loksabha;

12.                Shri Jaswant Singh Ji, Leader of Opposition in the Rajya Sabha.

13.                Shri Prakash Karat, General Secretary, Communist Party of India (Marxist) 

14.                Home Secretary, Government of India; 

15.                The Commissioner of Police, Delhi;

16.                Chief Vigilance Commissioner, and other Two Commissioners, Central  Vigilance Commission.  

17.                Director, Central Bureau of Investigation.

18.                His Excellency Mr. Kofi A. Annan, Secretary-General of UNO through Director,

                        Mr. Sarbuland Khan, Department for Economic and Social Affairs

19.                His Excellency President of European Union Mr. José Manuel Barroso

20.                The Spokesperson of The President of European Union Mr. José Manuel Barroso

21.                Secretariat-General European Union

22.                Commissioner for Economic and Monetary Affairs, European  Union Joaquín Almunia

23.                Commissioner for Employment, Social Affairs and Equal Opportunities, European Union Mr. Vladimír Špidla

24.                His Excellency Mr. Paul Wolfowitz, President of the World Bank,

25.                Board of Directors IMF, through IMF Centre,

26.                His Excellency Swiss Ambassador to India,

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TRUTH SHALL PREVAILS