Tuesday, 21 October 2014

Dirty Money routed through Singapore, Seychelles?


Evidence collected by Indian investigating agencies into the AgustaWestland helicopter deal reveals that kickbacks into the country were routed through a circuitous financial network involving countries like Singapore and Seychelles. For the first time a Seychelles connection has surfaced in the multi-crore helicopter deal.

Sources said both Central probe agencies CBI and the Enforcement Directorate (ED) are planning to send judicial requests to authorities concerned in Singapore and Seychelles to get details about certain firms based there. Sources said the CBI is preparing to examine some more private persons in connection with its probe into the deal. The ED is planning to send judicial requests to about six countries in this regard, they added.
The ED recently arrested a businessman Gautam Khaitan in connection with the case. Investigations by the agency revealed that Mr Khaitan had allegedly helped the Anglo-Italian defence manufacturer in facilitating the transfer of kickbacks, approximately 2.16 million Euros, to India. It has also been revealed that Mr Khaitan allegedly introduced European middlemen Carlo Gerosa and Guido Haschke to Satish Bagrodia and Pratap K. Aggarwal, chairman and managing director respectively of the suspected firm IDS Infotech Ltd (India).

Indian investigators, sources said, suspects the route of stash funds to have originated from Italy and routed through Mauritius, Tunisia, Singapore and Seychelles to India. Mr Khaitan was on the board of Chandigarh-based Aero-matrix and he had resigned from the post after the Italian police started its probe into the chopper deal in 2012. The firm is allegedly a front company for the financial dealings of the copter deal. The ED on July 4 had booked former IAF Chief S.P. Tyagi and 12 others under the Prevention of Money Laundering Act in the helicopter deal case.

 http://www.asianage.com/india/money-routed-through-singapore-seychelles-807

25 comments:

  1. It shows us the extend to which Pl criminals are involve in International organized crimes.Money apparently went through one Of Paul CHow many's OFFSHORE companies with the blessing of Pl government or through Michel Soleil Offshore company.

    I wonder when pl thugs are named and shamed if Chief-of thieves Michel would sack his own middle men to save his own skins and push him to start implementing strick law to apprehend those invovle in corruption which has become an epidemy in Seychelles.

    Pl money launderying continued activity have negatively affect the integrity and stability of Seychelles' financial sector,which also undermined National security and economic development goals.

    We calling on the justice to investigate once and for all,Pl ministers and complices and get them stop aubusing power and using our institutions as means of protections and facilities in their criminal activities.We call of NOGS to challenge this rogue and criminal Pl system in order that we finally get those thieives where they belong namely behind bars.That means,that we expect the justice dept to start its own investigations in this case and previous cases of money launderying and Pl organizaed criminal actitives and that without awaitingfor Indain or Italian to ask the court to do so.The court should open any investigation in alleged cases voluntarily and without the need to be asked to do so.it is the duty of the court to so.it is high time to apprehend those Pl thieves and criminals,they tarnishing our people and country image abroad as corrupt state and not as unique tourist destination as it used to be.

    Get those monkeys behind bars!

    Jeanne D'Arc

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  2. In these money launderying Pl thieves pocket bulk amount fo illicit money,which explain why even the country economic collapse and Seychellois starving ,they donot even care.they have other means than legal means to fill in their pocket.

    Paul CHow as well as Pl government should be investigated not only in this case but all previous cases.We need to see these thieves face justice for their crimes.

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  3. Both the Italina and Indal government are investigating this case.We will watch out who are those monekys in pl government involve when they will be challenged by Indian delegations arrive soon.

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  4. Where is PL self-created anti-money launderying UNIT FUI?The later since it existence has never apprehended any crimionals though the multiples of cases of money launderying Pl thugs are involve in.Even seom Like Paul Chow ccame public to certified the criminal activities being perpetrated by Pl and Ilks like Paul CHow,So what is needed more as evidence for FUI to act?What is the purpose of using tax payers' money to pay a fortune to an organization that does not deliver and refusingto even under take a simple investigation in any known cases of money launderying and corruption?are they paid by Pl,or just incompetent and part of ther gang?

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  5. Where Seychelles' justice,Where is FIi;where NGOS?

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  6. It seems that Pual Chow and Mancham opposed Pl government not because they bleive in freedom or democracy but because Pl would robbed what they thmselves were plaining to do,namely rob the people too.

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  7. People like Chow and Mancham will sell their own mother for money given the chance. I cannot understand why we the people of Seychelles are still putting up with this bullshit. Mancham and Chow should be given a few hours warning and have them deported, they both have British Passport, so it will be easy to send them back to the UK.

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  8. For your information. Chow & Mancham are both Seselwa Racine. Sesel is their motherland and Britain was their adopted country, whilst they were in exile. Having cleared this little issue, let us move onto the main topic ' Dirty Money' through Seychelles. We in Seychelles, we are NOT THE FINANCIAL POLICEMEN FOR THE WORLD (especially the corrupted Europeans & Americans). These people bring their money to Seychelles. We have a duty of care to ascertain their origins, but we do not have to create a team of Declan Barbers to micromanage these matters. As long as our banks are asking the questions, the onus is on the client to answer the questions. There should be a warning from the banks explaining that any dubious money not properly declared will confiscated by the Government of Seychelles. If this is done properly, we can soon get rid of all these IMF & World Bank loans that are only financial mechanism to enslave us like Khalifa has already done to us ! Araze

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    1. If we were to get rid of the IMF and world bank than it would have happened a long time ago. The main issue here is the depositors money, although the accounts are registered in Seychelles, the funds are moved immediately to other offshore entities. In fact, many money managers often seek out higher returns for bank deposits globally and move assets around accordingly to take advantage. How does Seychelles benefit from this type of business if the funds are not in the Seychelles banking system? Your comment does not make any sense. Try again!

      Gary Tall

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  9. Friends - some issues are very much more complicates - we wrote to the MNA under then President FA Rene government explanation some of the very complex issues we as nation was involved and some of the process. Everybody pass it is inventing until Mr Christopher Gill started his Blog. Out there in the greater world the establishment and Institutions the way they work. Our European and International dynamics/synergy just as the reason the Arabs are so interested in us and the larger Public cannot/refuse to understand. We became involve in the Augusta debacle from a High Interdisciplinary/multidisciplinary corporate prospective Including Air Bus and EADS, Euro Fighter and Euro copter - those elite politicians like Sir James Mancham and Mr Paul Chow and others know and have known yet in Public what they tell you about our person. The same and the British Institutions. Try and get some more info of the Thatcher era, PM John Major and PM Blair. What the media wrote as to the reality. Safe our people are terrible they will not even offer a glass of Water if you badly needed it Hence we addressed the International Institutions and as is the norm , copy of our email would have been kept. All those who use and abuse our workings and the mega mess, global corrupted Benchmark we have landed in. {We politely ask Admin to lend us this article for our FECAS-ECVSVS Forum Board}

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    1. Sa let above pa lot Ki Edmond Ki vinn gat son letemp avec letemp lezot dimone.

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  10. Mr Tall, My argument is simple, the onus should not be on Seychelles to police double standard practices that all originates from Europe & America. Of course my original explanation makes very good sense if we are to remain independent ! See how we benefit, it keeps some Seselwa Racine in employment. It helps building owners, rent out their offices. Cleaners are employed to clean. The list goes on and on... When you add all these to the mix, we end up with a balanced economy. Araze

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    1. You are deluded my friend. What keeps Seychellois in employment are tourism and the fishing industries. The offshore businesses are for only a few individuals whose behaviour has been pitifully and disgracefully inappropriate. These individuals are more interested in lining their own pockets than the welfare of the Seychelles people.
      On the "balance economy", i am sure that you do not live on this planet. Seychelles external debt is over US 500 million Dollars, public debt is over 70% of GDP and the International Monetary Fund bailouts deepen, rather then solve, economic crisis. Seychelles has no overall control of its monetary policies. It is the IMF that gives an authoritative instructions to the CBS. Do you call this a "balance economy"?
      No wonder we have been in this cesspit for so many years. It is this sort of attitude of selfishness and greed of a few that has caused this economic problems in Seychelles.

      Gary Tall

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  11. Mr Tall, Happy Sunday, I agree with your comments about the IMF debt 100%. We Seselwa are enslaved by IMF, World Bank, EU, USA, KHALIFA & PARTI LE FES. With regards to our offshore sector, my argument is simple. Our offshore banks should seek the answers from the depositors. As long as the depositors have assured us of the origin of the funds, then our bankers have done their job. If the country of origin allow such mal practice to take place under their noses, who are we to prevent it ! I also take note that Seychelles is being used as a transit point for these commission based transfers. It is down to our offshore banks to charge transaction fees and transfer fees to cover their overheads and running costs. My argument is not with you Mr Tall. Mr argument is with the corrupted system in your adopted country, EU & USA. They make it easy for the top 5% of their country to create these complicated offshore entity to avoid taxes in their country. Our President JAM has learnt from them and created his own 'Soleil'. Whilst these big boys are playing 'merry go round' which their money, our offshore bank should take their fair charges and commission. It is a rather complicated matter, we can definitely benefit from that ! I also agree Tourism & Fishing are our main economy. I would like to see Seychelles diversify so 'we do not have all our eggs in 2 baskets' Our tourism industry are already experiencing some cancellation due to Ebola. Can you imagine a similar epidemic in the Middle East, 90% of our tourist has to transit before arriving to Seychelles. Its is just not worth 'dreaming' about this worst case scenario. Hence it is important not to dismiss other potential business sectors. Araze

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  12. Mr Tall, further to my last reply, I must add that the money should be prevented from leaving its country of origin rather than burden us to when the funds have arrived here in Seychelles. Your adopted country and its partners are great at creating red tape to keep everyone busy, but themselves ! Araze

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  13. 04.44

    A bank has a commitment to ensuring that the risks of fraud,money launderying etc are reduced to the lowest possible levels.where there is the possibility of fruads,corruption etc...the bank has a responsibility to deal (by taking its own iniative)) in a decisive,timely and controlled manner.it is about COde of Business and Ethics my friend.All banks have Code of Ethics,or you telling us that those banks in Seychelles have no ethics ,Code of business and even no National laws in place that guide these banks daily dealings?I mean ,I could be because we in a one-party state,whereby we have a crooked government with crooked institutions that allow,promote illegality.

    Morever,Pl government has commited itself to the Interantional community to take actions and fight money launderying ravaging our country's image abroad. and we then expect that ogvernemnt whether asked or nor to take the initiative and act of allegded,proven money launderying cases that invole Seychelles seriously by opening its own investigations be it whether the case is real or not.It is a duty government as commitments towards its International and National obligations.

    As To DEPOSITORS,foten money launderying invole terrosits ,Inrternational crimes and illicit money,so donot expect that a crime would come to you and provide you with legal informations on how he or she acquire the money,else there would be no need in trying to laundered the ill-gotten criminal money.Did Pl told you or tell Swiss bankers that the u$ 2,4 billions Pl thugs put in their banks are stolen wealth of their people?No they did not,it was the Swiss Banks who did it.Until to date ,though Swiss banks have revealed the existence of 2,4 billions in Swiss banks belonging to Seychellois ,Pl has not investigate in these cases,nor ask the Swiss bank to give out names of these persons,t(though Pl government can do so, and would be provided with detailed by swiss banks as the later has said and is doing in other cases).Insrtead Pl thieves denied that their money are illicit and both Michel and FAURE the tow-criminal -bosses have fialed to convivnced Seychellois on their missing 2,4 billions dollars hidden in Swiss banks.

    Jeanne D'Arc

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  14. 04.44
    "Money must be prevented from leaving the country" you said,for that ,the government should take its responsibility by opening an investigations and asked banks to blocked any suspicious bank accounts in this regards as the investigation goes on.But both Pl and FUi have been silenced on the issue,maybe to deliberately allow or give these banks involve enough time to get rid of these money and clear their records in order to hide all traces of money launderying.It seems ,both Pl and FUi are doing nothing ,pre-meditatedly for the facts that MANY BANKS HAVE WORKED HAND IN HANDS WITH pL CRIMINAL GOVERNEMNT ESPECIALLY IN CRIMINAL ACTIVITIES SUCH AS MONEYLAUNDERYING.

    Jeanne D'Arc

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  15. To prevent money from leaving the country can be done b having both government and banks to act.And it is a duty of the government to do so.This case should have been an opportunity for Pl known for its invovlemnt in Intenrational crimes,corruption, money launderying to rehabilitate itself by acting pro-activity in this actual case.Pl thugs addicted to corruption,money launderying thmeslefs seems not interested in enveiling their international collaborators names when it come to International crimes in which Pl is often involve in.

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  16. Faure the vice president of a christain state at ISLAMIC economic FORum.The question to Pl is what has Seychelles as christain state to do in an Islamic Economic Forum,is Seychelles an Islaimc State?or Michel thinks to please Khalfia we should be one?Since when is Seychlles an Islamic country Michel/faure/Pl?Tel lus Atheist Fuare?

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  17. Pl atheist have decided that Seychelles is an Islamic state. Here is a list of real Islamic states

    Algeria.Egypt,Syria,Qartar,UAE,Saudi Arabia,Mali ,Tanzania,Maldives,Somali ,Indonesia,Malaysia,Senegal,Sudna.Yemen,Toeerist republic of Pakistan,Afghanistan,togo ,tunesia,turkey,Oman ,Morrocco,Jordan,Irak,Iran,Niger,Nigeria,lybia,labanon,Kuwait,Chad,central Afircan republic,Gmabia.Duinee bussau,Guinea,Bnagladesh,Algerai,bahrain,Marcedonia.kosovo,albania, and PARTILEPEP ATHEISTS turned ISlamists.

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  18. Is Seychelles an Islamic economic Dr Prof Atheist Faure?since when are we Islamic Atheist Fuare?And who ever told you Seychellois want ot be part of an Islamic states Dr Atheist Faure?Under which name donkey?

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  19. Great job Gary Tall.
    Sesel Pou Seselwa!
    Christopher Gill

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  20. Dr And atheist FAUre tells us that in the Islamic forum he is going to learn of futre policies and that of the 21st century.The problem Athiet FAUre ,is Seychellois already know twhat polcies the country should take since 1976 when they asked for Indepedence,at goes from Democracy,freedom,poepl active participation insdecision-makings,Human rights respects,choosing their leaders is free and fair elections--having friends from democratic nations of their own chosing not those Partilepep chose for them.If your education in the CIGAR platation make you and idiot and under educated you must not think Seychellois are idiot like you are donkey.Communsit economic principle you learnt in Cuba CIAGR platation had bankrupt our country twice in five years,your communist polcies and under education have emprovish Seychellois ,retarded development and progress,creATE CHAOS,and have tarnished Seychelles image abroad donkey.If you feel you a monkey your place is in a ZOO not at State house donkey.

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  21. Partilepep criminals have dumped thousands of documents in to the bins.This show us how criminal these dnokeys are,they are trying to destroy Seychelles history.St Ange tell us that will not happ again,You what St Ange ,teliing us that would not happen agin is not enough,we need explainantion,we need to know who ordered this criminal act,we need to see those involve arrested and pay for their crimines.Partilepe want to distort our history to replace it by Hinduism,as hindu illegal religious procession of our Christian streets show and has started.

    We must get rid of those monkeys,and all should be jailed.

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  22. After destroying archival documents ;StAnge went to attend the illegal Hindu religious porccesion on our christain streets.St Ange and aPl think HinduISm is part of Seychellois culture and tradtion,and that Indians are Seychellois.THis bullshit must stop or be stopped by all means.Hindus must go to India when they ant to cvelebrate their religion not on our soil St Ange.We refused that partilepep artificiall modify our society to create an utopia and destroy our culture,and tradtion.Hindusim,as well as Indain do not belong here.Indain belong to India,Hiduism belong to Hindus StAnge,

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