Stop helping black money hoarders: Kejriwal to govt

NEW DELHI: Aam Aadmi Party convener Arvind Kejriwal on Friday accused the government of protecting Indians who laundered black money asking it to take a cue from the United States. The renewed offensive comes after reports that a Swiss bank had been forced to shut down after it pleaded guilty to helping Amercians evade taxes. The US government has also charged the bank $57.8 million as fine.

News reports said that Wegelin & Co will pull down shutters permanently following its guilty plea to charges of helping wealthy Americans evade taxes of USD 1.2 billion for nearly a decade. Wegelin agreed to pay USD 57.8 million to the United States in restitution and fines.

AAP convener Arvind Kejriwal tweeted, "The Swiss bank, which allowed 100 American citizens to hide $1.2bn for 10 years, forced to close operations in US and pay heavy penalties. In contrast, India protects both the guilty Swiss bank and those who stashed their money abroad."

His colleague and AAP member Manish Sisodia added: "Oldest Swiss bank is to close permanently for allowing US black money, also fined $57.8m. Do we have any courageous leadership to Act?"

The political group had raised the issue of black money being laundered with the assistance of Swiss banks in November 2012. Kejriwal had alleged that HSBC helped several Indians including Ambanis with money stashed abroad. The allegations were denied by the Ambanis and the bank.

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Stop helping black money hoarders: Kejriwal to govt