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HSBC leak reveals blns from C'bbean, including VI, stashed in Switzerland

-accounts associated with VI and other places revealed; however none of the leaked accounts are held by VI citizens
The leaked table from HSBC revealing details of accounts associated with Caribbean countries and held in Switzerland. Photo: Provided
WASHINGTON, USA - The International Consortium of Investigative Journalists released a report this week revealing billions of dollars held in nearly 60,000 internal Swiss bank documents from 2006 to 2007 leaked by whistleblower Hervé Falciani, a former employee of HSBC in Switzerland, said a report from Caribbean News Now.

The report, published yesterday February 12, 2015 disclosed that HSBC maintained accounts for customers connected with 30 countries in the wider Caribbean, including the Virgin Islands.

According to the report, some of these come as no surprise in that territories such as the Cayman Islands and the Virgin Islands are established offshore financial centres and none of the leaked accounts were held by their citizens or passport holders although billions of dollars were held in accounts associated with those territories.

“However, in the case of The Bahamas, although it is also a financial centre, 55 Bahamian citizens or passport holders were associated with accounts at HSBC. Likewise, Bermuda, where 13 of its citizens or passport holders were associated with such accounts,” the report said.

“Also noteworthy is that one Suriname national held an account with HSBC in Switzerland, five customers from the US Virgin Islands, nine from Belize, four from Dominica, one from the Dominican Republic, three from Haiti, one from Grenada and two from Jamaica,” it said.

it said that Venezuelans are also questioning why a former treasury minister and ex-bodyguard of late President Hugo Chávez is linked to an account with HSBC holding billions of dollars -- one of 490 customers holding Venezuelan passports.

According to the report, the bulk of that amount was reportedly held by Venezuela’s Treasury Office under the name of Alejandro Andrade, who served as Venezuela’s treasury minister from 2007 to 2010, and was also president of the Economic and Social Development Bank of Venezuela, known as Bandes, from 2008 to 2010.

“The bank became the target of a US lawsuit targeting four individuals accused of participating in a kickback scheme benefiting Bandes’ vice president and a Miami-based brokerage firm. The scheme allegedly occurred during Andrade’s tenure, but Andrade himself wasn’t named in the suit,” said the report.

Andrade was also a close associate of Chavez’s, having participated with him in the 1992 failed coup attempt. According to the report, he is now based in Palm Beach County, Florida, and “has invested in show horses.”

Venezuelan opposition deputy Andrés Velasquez spoke out in response to the leaks on Monday.

“I request that the government clarify the destinations of the public fund deposits in Swiss accounts,” he wrote on Twitter. “The corruption of the regime has obliterated immense oil revenue,” he added, according to the report.

Efforts to reach Financial Secretary Neil M. Smith for a comment on the leak with regards to the VI being mentioned proved futile up to post time today.

16 Responses to “HSBC leak reveals blns from C'bbean, including VI, stashed in Switzerland”

  • ABC (13/02/2015, 16:49) Like (4) Dislike (0) Reply
    Well sir the rich getting richer
    • j (14/02/2015, 09:17) Like (1) Dislike (0) Reply
      You could get rich too. Put your money in HSBC if you think that is how people are getting rich. Ha ha
  • ok (13/02/2015, 17:08) Like (3) Dislike (1) Reply
    People can really make something out of nothing...what does the table really say or mean??? I lived in England and had accounts with HSBC so what some HSBC UK former employee can leak a table saying BVIslanders with passports have accounts with them and...?!?
    • Ummm (13/02/2015, 19:43) Like (3) Dislike (0) Reply
      Read. None of the BVI accounts are associated with people with BVI Passports........BVIslaners
      • ok (16/02/2015, 11:44) Like (0) Dislike (0) Reply
        You need to read...read my comment again and see if you're smart enough to spot why your comment is stupid.
  • black list (13/02/2015, 18:13) Like (3) Dislike (1) Reply
    We better hope the labour government do not win
  • xxxxxxxx (13/02/2015, 19:15) Like (0) Dislike (1) Reply
    THIS SHOULD NOT OPEN TO THE PUBLIC.
  • Hmmmm (13/02/2015, 19:21) Like (0) Dislike (2) Reply
    If peoples credit information is plastered on the internet ,that's recipe for identity theft.
  • asura (13/02/2015, 20:43) Like (3) Dislike (1) Reply
    Black list that is for both uk and st kitts
  • wet well (13/02/2015, 21:27) Like (1) Dislike (0) Reply
    troubling
  • Concern 1 (14/02/2015, 03:03) Like (4) Dislike (0) Reply
    But HSBC is one of the most destructive banks in the world as any students from the Caribbean or any part of the world that studied or that is studying in Mexico and they will tell you of their many nightmare experience. That bank needs to close down
  • vingin news (14/02/2015, 11:31) Like (0) Dislike (0) Reply
    This is old news
  • WEL SA (14/02/2015, 11:54) Like (0) Dislike (0) Reply
    VIP VIP all the way yuh say!
  • ole boy (14/02/2015, 15:52) Like (0) Dislike (0) Reply
    The Banks have the information, the government already has the information, the security forces and lawyers have the information, the internet companies and much of the media have the information and we talk about the need for more information
  • voter (17/02/2015, 08:25) Like (0) Dislike (0) Reply
    I wonder who are the people from SKN have bank accounts there as many years ago we were told that the first premier had an account in one if the Swiss banks,so therefore perhaps his children or family now has taken it over.Well it is said some people dance abroad before dem dance a yard
  • Time willTell (17/02/2015, 17:19) Like (0) Dislike (0) Reply
    Again lack of education playing a the Big Role. How many Trusts or companies will have a passport? Trustee of a Trust is a also a company. Will there be a passport? Short answer is no. However, if a copy of any passport is required for a director of the Trutsee or beneficiary or beneficial owner of a company and the country wanting it has a legal and valid reason to ask for it, a simple request to the FIA or FSC or the Tax Authority will result in that passport being provided. Complete lack of education by the narrow minded Virgin Islanders who refuse to learn about the one industry that puts bread on the Virgin Islands table. Instead, you come on here, blog assishness and then complain for not understanding and being dumb. I feel soo scared at times for my country. You people will not stop until it has all been killed by your ignorance. Then you you all try to blame the one hope we had. I hope you ALL understand the importance of having a data protection law by now. This man who leaked this information is now hiding and know he will spend a dam long time in jail.


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