After Coalgate, will it be Swissgate?
By Niticentral Staff on August 22, 2013
A veteran Member of Parliament who has in the past exposed many a scam involving black money and tax evasion is believed to have written to Prime Minister Manmohan Singh, bringing to his attention extremely serious allegations of a top politically-connected official of the UPA regime having parked huge sums of money in the Singapore branch of a prominent Swiss bank.
Niti Central is in possession of a copy of the letter. But since the MP, who is not affiliated to the BJP or any of its allies, has so far refused to comment on the purported letter, specific details of it are not being placed in the public domain. Copies of the letter, however, are floating around in Lutyens’s Delhi.
The Prime Minister is yet to reply to the purported letter whose explosive contents, if true, could rock the UPA Government and send ruinous tremors through the Congress establishment.
If the contents of the letter are true – no material evidence has been offered in the letter which seeks the Prime Minister’s views on the allegations – then Central agencies were reportedly alerted two years ago in 2011 by foreign agencies about huge sums of money being shifted and parked in this alleged account.
The information is claimed to have come from the Financial Services Authority of Britain and the Monetary Authority of Singapore. It has been alleged that India’s Central agencies have been sitting on the information.
The account is believed to have been opened in 1997 when the beneficiary was working for a State Government. Between 1997 and 2007, “huge amount of foreign currency was deposited frequently… It might be in hundreds of crores ” in this account, according to the purported letter.
The MP then adds: “Suddenly in 2007, huge amount of money was transferred to the account of (the senior official’s) daughter in the same branch of the same bank … As (the senior official) is an Indian citizen, both Singapore and UK agencies have alerted the Indian authorities, following the principles of international practices on curbing money laundering and illegal activities.”
The purported letter points to a potential link between the 2G spectrum scam and benefits accruing to the holder of the alleged account in the Singapore branch of the Swiss bank.
There are whispers in the corridor that the MP who is said to have written the letter has documents pertaining to the allegations levelled against the official. But he is waiting to hear from the Prime Minister before proceeding any further.