New Delhi: He was all over the news last week, as the $8 billion man who was still roaming free despite the fact that the Indian government had all the documents to this huge amount of money from the Swiss bank concerned. And now comes the kicker. The Swiss Bank UBS on Wednesday said that it does not have any business relationship with Hasan Ali Khan, the main accused in the multi-billion-dollar money laundering and tax evasion case. The Zurich-based bank was responding to reports that the bank assisted Khan in money laundering activities involving $8 billion.
“UBS does not have accounts for, or any assets of Hasan Ali Khan, and has no knowledge of any of the alleged transactions referred to in the media reports,” UBS said. “The documentation supposedly corroborating such allegations is false.”
On February 11, the Supreme Court asked the government to ensure that the Pune-based stud farm owner doesn’t leave the country.
The Swiss bank also said that in January 2007, following a request for Information from Indian authorities, it had informed the Swiss Department of Justice that documents purporting to be from UBS, and suggesting that Khan held assets with the bank, were forged.
Following an investigation, the Swiss Department of Justice and the Swiss Federal Banking Commission were “fully satisfied” that there was no basis for the allegations and it was established that documents purportedly corroborating these allegations were found to be forged, the statement said.