Monday, February 23, 2015

“Swiss-Leaks”: HSBC boss Gulliver used shell company in Panama – ABC Online

"Swiss-Leaks": HSBC boss Gulliver used shell company in Panama – ABC Online

Monday, 23.02.2015, 10:47 am
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HSBC CEO Gulliver has a report, even millions of dollars stored on a Swiss bank account. The Swiss subsidiary of the British bank is currently at the center of a scandal over black money accounts and money laundering.

  • HSBC boss Gulliver paid in Hong Kong taxes to bonuses
  • 6.7 million to HSBC account mailbox company in Panama

Gulliver was a customer of the Swiss bank in the center of the scandal to black money accounts and money laundering is. As the British newspaper “Guardian” reported on Sunday, Stuart Gulliver had the equivalent of 6.7 million euros in 2007 to be an account that was the name of a registered company in Panama, Worcester Equities account. Gulliver was therefore performed as the owner and beneficiary of the account. An international research network had made black money accounts and transactions with arms dealers and smugglers in the Swiss HSBC publicly on February 9 – “Swiss Leaks” pulls since large circles

In Hong Kong tax on bonuses paid.

A spokesman for Gulliver said, according to “Guardian”, the chief executive of HSBC had a bank account in Switzerland to create there received bonuses before 2003. He had moved from Hong Kong to London in that year. According to his lawyers Gulliver has in Hong Kong paid taxes on these bonuses and logged in Swiss bank account in the UK tax authorities.

Gulliver had in the past week to full page excused newspaper ads for misconduct of the financial institution in the past. The recent media reports of “historical events” showed that earlier today’s standards, the Bank had not generally been considered.

Black money accounts and transactions with arms dealers and smugglers helped

The According to research, the Bank in the past tens of thousands of customers worldwide, including well-known dictators and criminals around 180 billion euros to hide from the tax authorities. To the research network also includes the “Guardian”. In Switzerland last week have been initiated investigations into serious money laundering against HSBC Private Bank.

The Swiss branch of HSBC had distanced itself after the revelations of the criticized practices. Since 2008, the bank had made a radical restructuring. New managers had the business practices revised and closed accounts of dubious customers

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