brucekrasting.com / By Bruce Krasting / February 2, 2013
Switzerland started off the money laundering year with a bang. Three big cases in just a month:
- The Swiss accounts of Sergei Magnitsky have been frozen as a result of an ongoing corruption case in Moscow. This case is interesting as Magnisky died in 2009 (He died in prison – supposedly of natural causes – but he was only 37…)
The Russian’s have made this claim:
Prosecutors accuse Magnitsky and his former client, London-based investor William Browder, of a $230 million tax fraud carried out through subsidiaries of Browder’s company, Hermitage Capital Management.
I have no idea what this case is really about (it looks political) but whatever it is, it stinks to high heaven.
-The accounts of Malaysia’s Taib clan were frozen after a criminal complaint was filed in Kuala Lumpur.. The filing read:
“Taib abused his public office in a spectacular way.”
Of interest (to me) is that the revelations about the Swiss accounts came as the result of a divorce proceeding – an angry ex-wife blew the whistle. The talk is that this mess may top $20B! (link)
- The most embarrassing revelation for the month was the release of information that Luis Barcenas, a Spanish politician implicated in a corruption scandal, had 22m Euros ($30m) stashed in a private Swiss account.