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ALLEGATIONS AGAINST CREDIT SUISSE FOR MONEY LAUNDERING - LAUNCESTON 8-8-98- 2.00 PM

The predecessor corporation to the company involved in advising the Tasmanian Government on the proposed sale of the Hydro Electric Commission (HEC), Credit Suisse First Boston, was alleged to have been involved in money laundering in Colombia.

The allegations, which were made by BCCI front man Akbar Bilgrami to a US Senate Committee in December 1992.
The report which is to be found on the InternetKerry & Brown Report - Dec. 1992 quoted Bilgrami as alleging in 1991 that "Credit Suisse was repatriating $1billion per year in flight capital from Columbia"

The report quoted another BCCI operative Gharith Pharon as alleging that Credit Suisse was involved in laundering money in Argentina, along with other banks.

Credit Suisse is also "on the nose" with Holocaust survivors due to the banks involvement in retaining money belonging to the heirs of holocaust victims.



According to documents obtained by activists seeking reparation of money stolen from Jewish people who died in the Holocaust, Credit Suisse was "the most frequent violator of the Allied Code of Conduct concerning Swiss banks". These documents can be found at DOCUMENTS OF THE BLOCKADE DIVISION

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