Arab Today, arab today venezuela swissleaks accounts transparent
Last Updated : GMT 23:12:04
Arab Today, arab today
Arab Today, arab today

Venezuela: SwissLeaks accounts transparent

Arab Today, arab today

Arab Today, arab today Venezuela: SwissLeaks accounts transparent

Venezuelan Minister of Economy, Finance and Public Banking Rodolfo Marco Torres
Caracas - AFP

The Venezuelan government's bank accounts at the Swiss division of HSBC, which were revealed in the "SwissLeaks" scandal, are "totally transparent," said the South American country's economy minister.
Venezuela ranked third among the countries with the largest dollar amounts in the leaked Swiss files, behind Switzerland and Britain, journalists with access to the secret documents said at the weekend.
Clients connected to the oil-rich South American country had $14.8 billion in accounts detailed in data stolen by an IT worker at the bank in 2007 and passed to French authorities, then to the International Consortium of Investigative Journalists (ICIJ).
Venezuelan Economy Minister Rodolfo Marco Torres, who is listed as responsible for one account, opened in the name of the Bank of the Venezuelan Treasury in October 2005, defended the government's use of Swiss accounts.
"These accounts are totally transparent. They're not secret accounts. They've been through the accounting and review process," he said Wednesday.
The treasury bank "had resources and deposited them in that account through a trust," Torres said.
There are also "different sub-accounts where investments and payments to service providers were made," he added, saying there was "nothing abnormal" about the arrangement.
Venezuela's treasury bank was opened in 2005 under late socialist president Hugo Chavez.
Torres said it also had accounts at 15 other international banks.
The leaked documents, which cover the period 2005 to 2007, show 1,282 accounts linked to Venezuelans at HSBC's Swiss Private Bank.
According to the ICIJ, the largest accounts were linked to Alejandro Andrade, a former Chavez bodyguard who served as national treasurer from 2007 to 2010 and as president of the Economic and Social Development Bank of Venezuela (Bandes) from 2008 to 2010.
The United States alleges that during this period corrupt officials at the bank ran a massive kickback scheme that generated $66 million in revenue for a Miami brokerage firm.
Prosecutors in New York charged four individuals over the allegations and the US Securities and Exchange Commission filed a civil court action.
Andrade was not named in the suit.
He currently lives in an upscale neighborhood in Palm Beach County, Florida, and invests in show horses, the ICIJ said.
The "SwissLeaks" documents claim HSBC helped clients in more than 200 countries evade taxes on accounts containing $119 billion.
The huge cache of files has sparked criminal probes in several countries.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today venezuela swissleaks accounts transparent Arab Today, arab today venezuela swissleaks accounts transparent

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today venezuela swissleaks accounts transparent Arab Today, arab today venezuela swissleaks accounts transparent

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday