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Saturday, Oct 31, 2020

Money laundering, oligarchs, terrorists: How corrupt are the banks?

Are banks helping criminals, oligarchs and terrorists to launder money? That’s what the so-called FinCen leaks allege. How do the charges stack up? Our guests: Daniel Drepper (BuzzFeed News), Vendeline von Bredow (Economist), Matthew Karnitschnig (Politico)
Comments

samir sardana 32 days ago
Y is UK the den for stashing and laundering money ? That is like saying Y is London,a International Finance and Banking Centre ? This is the hub of a news article on money laundering in London as reported by FINCEN

https://www.ianfraser.org/how-london-became-the-money-laundering-capital-of-the-world/

Part 1

Firstly,London has an exceptional legal and judicial system with specialised laws, specialised courts and specialised judges for economic,commercial and financial misdemeanours and crimes.What that means is that tax evasion and bank fraud,is not a crine,under FATF and Brit laws,UNLESS it qualifies as a crime,in British Common Law. dindooohindoo

Step 1

Take the pathetic state,of the Indian Legal and Judicial system,and the PANDOO POLICE.The word Pandoo,is a Dog in Khaki,on an invisible leash,held by Politicians (who are pruned by the Tycoons).Unlike Dogs,who listen to sonic whistles – the Pandoos react only, when they SEE or HEAR money.So,if the Pandoo Police mismanages the case,or destroys evidence,there is nothing that the Indian Judiciary can do – especially the lower judiciary (which is inept)

As per a SC Ex-Judge,the entire Indian Judiciary,is CORRUPT and HE ALSO SAYS THAT,CONVICTS CANNOT GET A FAIR TRIAL IN INDIA ! This Ex-SC Judge is DEFEMDING a man in the Crown Court who is on the Interpol RCN list.

https://timesofindia.indiatimes.com/business/india-business/ex-sc-judge-claims-in-uk-court-nirav-will-be-denied-a-fair-trial-in-india-says-his-case-has-been-politicised/articleshow/ 78003748.cms

So for a tycoon in London,to prove that he was framed,by an inept police and judiciary,and a worthless legal system,is easy money.For the Crown Court,to be convinced of these arguments,is easy,

Step 2

The credibility of the Indian Investigators,is the PITS.They reek of corruption and political bias,and witch-hunting.They are all worthless,and have been excoriated and lampooned,in the media and UN reports.For the Crown Court,to be convinced of these arguments,is easy.

Step 3

Take the case of Nirav Modi.What is the Diamond Business in India ? It is Pure money laundering.WHy is this Bania being targettted – he says ? Ok – so his company diverted funds,submitted forged Invoices/AWB/Test Reports,They used the Bank SWIFT Codes etc.,BUT THE CATCH IS – Y did the Auditors,Bank Management and the RBI INSPECTIONS,NOT DETECT IT ? Cheating and Fraud,is a part of the Jewellery business,and the GOI was pushing this business, to BRING IN THE USD – and SO,the systen ENCOURAGED THE SAME.

Then,Mr Modi sayeth,that Y did his OWN AUDITORS not DETECT THE FRAUD ? So the final plea is, I DID NOT KNOW – as all financial matters,are handled by the CFO and the MD.

So for a tycoon in London,to prove that he was framed,by an inept police and judiciary,and a worthless legal system,is easy money.For the Crown Court,to be convinced of these arguments,is NOT TOO DIFFICULT.

Step 4

UK is a signatory to all the Protocols of the UN – ICCPR,ICESCR,CERD,CAT etc.So to PROVE in a Crown Court,that the Indian Pandoo Police are scum,and torture is rampant,and the health and hygiene conditions,in Indian Jails,are pathetic – is easy – as it is documented by UNHRC,ECHR,Amnesty,and the Indian Media.

SO THE TYCOON,GETS A UK RESIDENT VISA

NEXT STAGE IS TO BRING IN THE STASHED LOOT,FROM OFFSHORE JURISDICTIONS.So long as you are NOT a terrorist – beneficial ownership of bearer shares,Trusts and Foundations,is not pierced,in UK.Hence,through a maze of Trusts,SPVs,Foundations and Corporations – the money enters the UK.From the UK,the money can be invested in any part,of the world – with 100% Capital and Revenue Guarantee.

Step 5

But this is the Gem of the UK.All the Global Business,Financial consultants and Economists of the world,are stationed in London,feeding off Consulting,Tax,Accounting and Incorporation services, for all the economkic and financial fraudsters,of the world STATIONED IN LONDON.THAT IS TAX,ON THE STASHED CASH – WHICH goes to the Private sector (and partly from them to the state).But it keeps London,as the Financial nerve centre – and MOST IMPORTANTLY,keeps the Property Market afloat.Brits have STOPPED manufacturing.If the Property prices,in London crash – it will be the biggest financial disaster for the world, and will completely destroy,the British Banking System – which is the ONLY,viable economic activity,in the UK.

But the magic lies ahead.Then these Global Business,Financial consultants and Economists, advise Pakistan,India and other nations with persuasion and coercion,to do a Tax Amnesty or a OTS – in around,say 7-10 years.By that time the,launderers have washed the money, multiplied it at least 2 fold, AND THE BANKING SYSTEM AND CURRENCY RATE,IN THE TARGET NATION (Pakistan/India etc.),is busted – and so,the launderers GET THE BEST DEAL (with the advice of the Global Business,Financial consultants and Economists).

TAKE THE EXAMPLE OF THE INDON-ASS-EAN TAX AMNESTY. Guess the Tax rate ? 2 to 10% ! GUESS WHO WERE THE ADVISERS TO THE INDON-ASS-EAN Government ? Guess the amount that came in ? USD 330 Billion – more than 1.5 times Pakistan’s GDP.

And then,the MOST important,In London,a Pakistani Tycoon,can partake in the Tax Amnesty,of any nation.So let us say that Jakarta declares an amnesty.A Pakustani Tycoon has 100 Million USD of dirty cash,in Gold or Bearer Bonds.There is an Indon-Ass-ean in London,with a legit business.The Pakistani Tycoon himself,or with others has several food shops or stores or schools,running for the last 5 -10 years.So the Indon-ass-ean invests USD 98 Million in the Pakistani Businesses,and takes the USD 100 million in Gold (which goes into a sealed vault).HOW THE INDON-ASS-EAN GOT THE GOLD,IS OF NO CONCERN,TO THE INDON-ASS-EAN GOVTT.He raises a secured loan at close to 0.30%,and then,wires the cash,to BNI in Jakarta.

The Pakistani tycoon has washed his money for 2%.The Indon-ass-eean has earned 2%,for doing nothing.Then the most DELICATE PART of the trade – is to move the money OUT of JAKARTA.What is the magic when 330 Billion USD comes in ? The Indonesian Rupiah appreciates by 10-20% ! SO WHEN THE INDON-ASS-EAAN TYCOON TAKES OUT THE CASH,FRON INDON RUPIAH,TO USD – HE HAS USD 120 MILLION – for which he and the Pakistani Tycoon,have already struck a NDF deal,WITH THE FINANCIAL EXPERTS in London !

For taking the money OUT of JAKARTA – you need expert Consulting Counsel.When the Money comes back to London,the Gold goes back to the Tycoon (in tranches) as the Pakistani Tycoon,BUYS back the stake sold,to the Indon-ass-eean and the FX gains are SPLIT.

LONG Before the TAX amnesty – you will see frentic activity,in Purchases of Indonesian Paper,and Deposits in Imdon-ass-eean Banks,in Indon Rupiah – which will be pulled out,when the YTM declines,and the Indon Rupiah RISES,due to the USD 330 Billion.

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