Posted on Monday, May 11, 2009 - 01:41 pm:

---

quote:

New Delhi: The Central Government seems to have goofed up in its efforts to trace unaccounted Indian wealth in Swiss banks.

The case in point being that of notorious stud farm owner Hasan Ali Khan, accused of stashing away nearly $6 billion in Swiss banks – this according to the Finance Ministry that had mentioned his name to the Supreme Court as one of three Indians who has billions abroad.

Falco Galli, spokesperson of Ministry of Justice, Switzerland, tells CNN-IBN said documents submitted by the government in 2007 in connection with the case were forged.

Galli says the Swiss government had asked India to provide the right documents and a confirmation that the case against Khan is a criminal one.

In March 2007, the Indian embassy did submit more documents but the Swiss government says even they did not meet the necessary 'specifications'.

In the last two years, there has been no communication from the Indian government, says the Swiss government spokesperson.

Stud-farm owner Hasan Ali Khan is allegedly worth $8-9 billion, according to the police in India.

He has parked most of his money in banks in Switzerland through money-laundering. Khan, a resident of Pune, has been in hiding for about a year now.

---