Tuesday, October 25, 2011

Bloomberg News Cheers Swiss Banks for Ratting Out Their Customers

From a Bloomberg News editorial:

... it’s a welcome sign that 11 firms may be on the verge of agreeing to pay billions of dollars in penalties and reveal the names of Americans who used Swiss bank accounts to evade U.S. taxes, according to a Bloomberg News article yesterday...

The U.S. should insist that Swiss banks be required by law to provide all necessary information -- including the identities -- of tax cheats on an ongoing basis. Swiss law now prescribes harsh penalties for anyone disclosing information about bank customers.

Switzerland also should adopt a broader definition of what constitutes tax evasion. Switzerland’s 1996 tax treaty with the U.S., adopted before numerous abuses were disclosed, lets banks protect account information if the depositor doesn’t participate in “tax fraud or the like,” which is absurdly vague. It would be far better if Switzerland fully reciprocated with current U.S. tax law and recognized that American citizens commit a crime when they skirt taxes, even if it doesn’t rise to the level of fraud.

Unfortunately, Switzerland has cooperated only grudgingly in meeting international banking standards, agreeing to do so in 2009 under threat of sanctions and being named as a tax haven by the Organization for Economic Cooperation and Development. Even so, the country this month was ranked at the top of a financial secrecy index developed by the London-based Tax Justice Network.

Switzerland should do itself a favor and abandon the financial opacity that has made it the world’s No. 1 destination for offshore wealth. It has no place in a globalized world where money can be electronically whisked from one place to another, except as a cloak for financial wrongdoing.

6 comments:

  1. The Organization for Economic Cooperation and Development.

    Now THAT's funny!

    They should just call it for what it is and rename it B.O.A.S.T.: Bend Over And Spread Them.

    Is there a Mr. Orwell in the room?

    ReplyDelete
  2. The main motifvation behind pressuring Swiss banks is squeezing deposited money out of Switzerland so people have to bring it to London, Frankfurt or the US. And it works. Many Swiss banks started refusing American customers. The legal risks and burdens caused by FATCA and other absurd laws are so high that it is less costly to get rid of US customers than to bend to the bureaucratic nightmare.

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  3. Update .March 15 th. - 2012.



    The following sent to ----312 Lords.------- House of Lords.( inc. Lord Myners.)
    The following sent to ----649.M.P’s--------House of Commons.

    Aug 4th. 2011--- Full story plus all documentation sent to
    640.M.P’s ------- House of Commons.
    460. Lords.-------House Of Lords.

    BANK - PARTNERS IN CRIMES.

    Pictet & Cie Bank.

    Ivan Pictet.
    Nicolas Pictet.
    Charles Pictet.
    Jacques de Saussure.
    Jean – Francois Demole.
    Renaud de Planta.
    Philippe Bertherat..

    Pictet & Cie.- claim they are the “Rolls Royce”of Swiss banks.

    Swiss Banks or more correctly Swizz banks.

    Swizz. ---- “ a great disappointment.” or a “ fraud.”

    Fraud. ---“ an intentional deception or dishonesty.”— “a crime.”

    Crime. ---“ an act committed or omitted in violation of a law.”

    Serious Crimes .
    Conspiring to pervert the Course of Justice.
    Perverting the Course of Justice.
    Contempt of Court.


    Pictet & Cie Bank –Partners –(1996—2012 )- guilty.
    Peters &Peters – Partners.— (1999---2012 )- guilty.

    ReplyDelete
  4. The Criminal Super Class.
    Bankers.
    Lawyers.
    Police.

    Over approximately five years of hitting the internet with a case that involves criminality by a major Swiss Bank , Britain's most prominent fraud lawyer and a regional police force headed by one of Britains top policeman. ( Surely justice should prevail.)

    In fact the complete opposite even though the offences committed are very serious.

    Conspiring to Pervert the Course of Justice.
    Perverting the Course of Justice.
    Contempt of Court.------------------ plus a dozen or so smaller offences.

    In the five years some 6-7million e-mails have been forwarded to all Members of Parliaments in Britain and Switzerland, every barrister and chambers in Europe .
    Every law inforcement body in both countries , and America. Even raised in Parliament twice.

    The banking fraternity ( somewhat Freemason-ish) fully aware of this case still decide to give the Private Banker of the Year Award to Ivan Pictet --- Pictet & Cie Bank. ( Him being the person most responsible for the crimes committed by him and his bank partners. )

    The legal fraternity ( very Freemason -ish ) decide that Monty Raphael of Peters & Peters . London become an honourable Queens Counsellor and to rub the salt in six months later made a Master of the Bench. He also was guilty of all the above offences but so what. At this rate he might become King by the end of the year.

    The police ( West Yorkshire Police.) headed by Sir Norman Bettison has not improved as a force on fighting crime. They are now worse than the days of the Yorkshire Ripper , when they had him in custody nine times and let him go. If it hadn't been for the South Yorkshire Police force catching the Ripper he would have still been at large to day .

    Then they wonder why the man in the street becomes angry and decides to riot.
    All we can do is to continue pressing for justice and up the pressure on the internet
    for the next five years and beyond.

    ReplyDelete
  5. The Criminal Super Class.
    Bankers.
    Lawyers.
    Police. April.2012.

    Over approximately five years of hitting the internet with a case that involves criminality by a major Swiss Bank , Britain's most prominent fraud lawyer and a regional police force headed by one of Britains top policeman. ( Surely justice should prevail.)

    In fact the complete opposite even though the offences committed are very serious.

    Conspiring to Pervert the Course of Justice.
    Perverting the Course of Justice.
    Contempt of Court.------------------ plus a dozen or so smaller offences.

    In the five years some 6-7million e-mails have been forwarded to all Members of Parliaments in Britain and Switzerland, every barrister and chambers in Europe .
    Every law inforcement body in both countries , and America. Even raised in Parliament twice.

    The banking fraternity fully aware of this case still decide to give the Private Banker of the Year Award to Ivan Pictet --- Pictet & Cie Bank. ( Him being the person most responsible for the crimes committed by him and his bank partners. )

    The legal fraternity decided that Monty Raphael of Peters & Peters . London became an honourable Queens Counsellor and to rub the salt in six months later made a Master of the Bench. He also was guilty of all the above offences but so what. At this rate he might become King by the end of the year.

    The police ( West Yorkshire Police.) headed by Sir Norman Bettison has not improved as a force on fighting crime. They are now worse than the days of the Yorkshire Ripper , when they had him in custody nine times and let him go. If it hadn't been for the South Yorkshire Police force catching the Ripper he would have still been at large to day .


    Then they wonder why the man in the street becomes angry and decides to riot.
    Even after five years of exposing their crimes on the internet , they dare not take legal action to stop us --- no injunctions --- no writs – they can't risk going to jail.
    All we can do is to continue pressing for justice and up the pressure on the internet. For the next five years and beyond.

    ReplyDelete
  6. Pictet & Cie. Bank – list of crimes.

    1996 ---- Breach in London.
    2003 --- FSA --- States rogues operating in Pictet’s –London
    Office . Ivan Pictet said documents were forgeries but
    were lated proved to be genuine. Had documents held
    in London office destroyed.

    2007 --- Japan. ---- The Securities and Exchange Surveillance
    issued a recommendation that the Prime Minister and
    The Commissioner of the FSA to take disciplinary
    action against Pictet Asset Management. Japan Ltd.

    2008 --- Dec. ---Pictet Bank state --- “ we have never chosen
    any funds linked to Madoff.”

    2011 --- Madoff Trustees sue Pictet & Cie. For $156 Million.

    2011--- Bank at centre of Bribery and money laundering case.
    Being sued for $350 million. ( In U.S.A.)

    2012.--- Geneva Bank Pictet used in Offshore Tax Scheme.
    U.S. Authority states.

    ReplyDelete