Switzerland Supports Criminals & Hurts Your Wallet

by Odysseas Papadimitriou on November 2, 2011

wb_swiss_criminalsWhen you think of Switzerland, the first few things that likely come to mind are bank accounts, chocolate, and neutrality, and there’s a reason for that. The Swiss love to portray themselves as mild mannered people who eschew crime, make delicious candy and run perhaps the most unique banking industry in the world. But hidden behind this façade are layers of hypocrisy and implicit criminal involvement, which allow illicit operations to flourish around the world and provide safe haven for tax evaders. Lost in the aura and tradition of Swiss banking isolationism is the negative effect the Swiss system often has on citizens of other countries. The bottom line is that economies around the world are now more interconnected than ever, and if we want the world to become a safer place or all U.S. citizens to be held accountable for the same tax laws, then Switzerland will need to adjust or risk expulsion from the Western financial network.

Swiss Banking’s Murky Past
Swiss banking secrecy officially took effect in 1934 with the passage of the Swiss Banking Act—which effectively made it illegal to share bank account information with third-parties, including Swiss authorities and foreign governments—and even the circumstances of these origins are enough to raise eyebrows. Switzerland has long justified its banking secrecy laws by harping on the merits of personal privacy, and while this is likely a large part of the equation, scholars seem to agree that the aforementioned 1934 law was passed in reaction to a French scandal, which involved France’s Prime Minister accusing distinguished French citizens from various walks of life of stashing money away in Swiss banks and thereby funding the Nazi regime.

Indeed, the Swiss banking system has been widely accused of essentially laundering money for the Nazis, allowing them to hide assets stolen from captives and gold stolen from occupied nations in the country’s infamous numbered accounts. According to a 1999 report by the Volcker Commission, the value of accounts potentially belonging to Nazi victims that were closed by Nazis, closed by unknown parties or unclaimed was $107 million. Swiss banks have also been tied to notorious crime and terrorism figures, such as Meyer Lansky and Osama Bin Laden, as well as numerous international financial scandals, including that which resulted in the Swiss bank UBS paying a $780 million penalty to the U.S. In addition, accusations from developing countries hold that Swiss banks are the final destination for much of the estimated $50 billion a year siphoned away by corrupt dictators.

Hypocrisy Incarnate?
This all would certainly seem to contradict the idea of the noble Swiss banker, concerned only with sound banking principles, and not international politics or cutthroat business practices that ignore international law. It also serves to illustrate the hypocrisy of a culture that acts as if it treasures neutrality and peace, but supports a system that has served as the financial backbone for some of the most notorious criminal operations in history (and those are only the ones we know about). When you consider how harsh Switzerland has traditionally been on crime internally, especially as it relates to foreign perpetrators, the double-standards practiced by the nation are even more evident. According to a 1999 report from Switzerland’s Federal Department of Justice and Police, the conviction rate for foreigners living in Switzerland is double that of Swiss citizens. What’s more, in 2010, 53% of voters voted for a law proposed by the Swiss People’s Party that, if passed, will allow automatic deportation of foreign nationals legally residing in the country who commit certain crimes.

Necessary Changes
By now, you must be wondering why countries around the world allow this system to subsist. 2001 Nobel Laureate for Economics Joseph Stiglitz tackled this exact question in a 2003 interview, saying:

“You ask why, if there’s an important role for a regulated banking system, do you allow a non-regulated banking system to continue? It’s in the interests of some of the moneyed interests to allow this to occur. It’s not an accident; it could have been shut down at any time. If you said the U.S., the UK, the major G-7 banks will not deal with offshore bank centers that don’t comply with G-7 bank regulations, these banks could not exist. They only exist because they can engage in transactions with standard banks.”

Within this reasoning lies the exact solution to the problem of Swiss banking secrecy. Officials from the U.S. and the E.U. need to join forces in outlawing the transfer of funds originating from anonymous accounts (including company accounts that cannot be traced back to individual owners). If there is no physical person behind the cash or the identity of said person is not available to all relevant parties, including governments for taxation and law enforcement purposes, there should be no transaction. Such a requirement would eliminate transfers involving shell corporations that mask criminal activity and would effectively shut off corrupt banking systems from the world economy. It would also make it much harder to finance criminal enterprises, given that under such a system you would be unable to maintain a useful bank account unless you‘re willing to have your financial information disclosed to your country of citizenship.

Final Thoughts
We should all care about restricting banking secrecy precisely because of the effect such a move would have on crime. The free flow of money is the lifeblood of all types of crime and without it the world would be a much safer place. What’s more, by holding our wealthiest citizens responsible for their civic and legal duty to pay taxes, we would have more funding for things like schools, public works, police forces, deficit reduction, etc. That sounds a whole lot better than the current “what you don’t know won’t hurt you” approach held by Switzerland, as we’ve seen that the country’s banking practices have indeed hurt many, either directly or tangentially.

Much like the Swiss wish to expel from their country legally residing foreign immigrants who commit crimes, it is time to expel Switzerland from our banking system, unless they cease aiding criminal activity on a daily basis.


Sods ----- Law.nNov.---- 2014.nnFor almost two decades we have strived to get justice for the injustice we have suffered at the hands of a world renowned bank--- PICTET & CIE. BANK.nnTwo yorkshiremen both running their own small family businesses trying to resolve the problem by taking all the correct legal procedures to recover their monies.nnThe matter was raised in Parliament – twice-- the FSA investigated the matter concluding that PICTET had rogues operating in their London Bank --- but the rogues had left ---saying no one left to prosecute.??? ----- so there.nnWe then approached the Financial Ombudsman Service. (FOS) --- our case was dealt with by seven different people ---- then our numerous E-Mails were ignored --- nobody would speak to us -------so there.nnWe then asked the SFO ( Serious Fraud Office.) to investigate our case ---- the criteria of our case ticked all their boxes. --- we were instructed not to send them nany documents/evidence.------ in fact they wrote to us advising us to go to the Citizen's Advice Bureau.(CAB.)nRichard Alderman the SFO boss ---- who responded to our letter was the same man who would not investigate the “ Madoff” scandal or the “Libor” fiasco.nThe MP's committee ---- said he was sloppy--- and the SFO was run like “ Fred Karno's Circus” ----- it was an office of fraud.----- so there. nnOur M.P. approached our local Chief Constable to investigate----- he was called---- Sir Norman Bettison--- Chief Constable of West Yorkshire Police ---- a force that made “ Dad's Army” look like the S.A.S. They were inept – corrupt ---malicious --- from top to bottom. We were criminally dealt with by the Forces Solicitor---- the Head of the Economic Crime Unit ----and the Chief Constable ----- so there.nnWe were then advised to pass our complaint against West Yorkshire Police to the I.P.C.C. – which we did --- they advised us to make our complaint to ---- the West Yorkshire Police --- we did with reluctance --- all we got was abuse and obfuscation. ----- so there.nnSir Norman Bettison ---- The Forces solicitor--- and the Head of the Economic Crime ---- have all been removed from their posts and facing criminal allegations.n------ so there.nnWe even sought justice through the Courts --- culminating in a visit to the Court of Appeal-London.--- On leaving the Courts of Appeal that day our barrister a “rising star” informed us --- that if that was British Justice then you can keep it. He quit the law and moved to Canada ----- so there.nnA few years later we learned that one of the judges ( Lord Justice.) in our case at the Court of Appeal was related to a senior executive of the Pictet Bank -----so there.nnThe Ministry of Justice passed our case to Lord Myners to investigate --- we would rather have had Mickey Mouse or Donald Duck do it. --- to this day we don't know n---whether he did anything or not ---- probably not --- seeing that his wife was on the Pictet Prix Board. nnPictet & Cie .Bank --- voted private bank of the year 2013.nIvan Pictet ---- Voted banker of the year 2012. ---- the senior partner --- lied on numerous occasions and had documents destroyed --- also said genuine documents were forgeries. ----- so there.nnIvan Pictet in Oct. 2013 ---- Given the Legion of Honour --- but saying that ---- honours were given to Hitler --- Eichmann --- Mussolini ---Franco --- he's in fitting company. ----so there.nnMONTY RAPHAEL.Q.C. -- Peters & Peters.London. They were the banks lawyers.nMonty Raphael.Q.C. along with Ivan Pictet withheld crucial documents requested by the High Court ---- the FSA ---- and the police Fraud Squad. ----so there.nnMonty Raphael.Q.C. became an Honorary Queens Counsellor in March. 2012.nMonty Raphael.Q.C. became a Master of the Bench in Nov.2012.nAn expert in Fraud ---the Doyen of Fraud Lawyers. ----- so there.nnThis says a lot about Banks --- the consensus of opinion is that they are highly paid “crooks” ---- no wonder they voted Ivan Pictet banker of the year.nnIt appears that crimes in the “establishment.” are honoured by their peers.n “HONOURS AMONG THIEVES.”nnFull Story.---- “google ”nnInsert.nnPictet & Cie. Bank.n ornIvan Pictet/ Monty Raphael Q.C.
November 14 at 15:47 pm
Update --- Nov... 2014.nPictet & Cie Bank ---- List of Crimes.nFull Story--- "Google " ---- Pictet & Cie. Bank.nn1996 ----- F.S.A--- Breach in London.nn2003 ----- F.S.A. -- States rogues operating in Pictet's London office. Ivan Pictetnstates that documents were forgeries but were later proved to be genuine innthe British Courts. He had documents destroyed in their London office --nhoping to hide the crimes.nn2007 .- - - The Securities and Exchange Surveillance issued a recommendationnthat the Prime Minister and The Commissioner of the FSA to take disciplinary action against Pictet Asset Management – Japan Ltd.nn2008 .-- Dec. - Pictet Bank state - " We have never chosen any funds linked to Madoff.nn2011 - - - Madoff Trustees sue Pictet & Cie. Bank for $156 Million.nn2011- - - Pictet & Cie Bank abetted a Bribery Scheme - Oil company sues Pictet for $350Millionnn2012 - - - April – Geneva Bank Pictet used in Offshore Tax Scheme. ( USA.)nn2012 -- - June. -- Published in Anglo INFO .Geneva.--- USA Trust Fund Investors were sent false and fraudulent documents by Pictet Bank in order to collect large fees. ( Like MADOFF)nEven after the SEC in the USA uncovered the fraud Pictet continued to charge fees and drain whatever was left in these accounts. Estimated that $90 million lost in this Pictet Ponzi scheme.nn2012 - - - July. -- De – Spiegel. -- states – Pictet Bank uses a letterbox company in nPanama and a tax loophole involving investments in London to gainnGerman millionaires as clients. nn2012 - - - August ---- German Opposition Leader accuses Swiss Banks of "organised crime." nn2013 --- Jan.--- Swiss MP' table motion to freeze Tiab Mahmud's assets of " criminal origins" nheld in Swiss banks – $18 million held in 5 accounts at Pictet & Cie. Bank. Bahamas. nnIronically the Pictet & Cie.Bank partners are bigger criminals than the criminals who have accounts in the their bank.nnThe bank is now seeking to re-structure -- to cut the partners liability – hoping to off load their decades of criminal responsibilty – and move onwards to carry out new crimes. The Germans are nright -- the bankers should go to prison if found guilty of financial crimes.nnSwiss Bank Accounts. Oct . 2014.nnIs your monies safe in these accounts ---- definitely NOT.nWould you get your money back if every body decided to withdraw all their accounts – NO WAY.nEconomic Experts say that there would only enough money to repay 50% of their clients.nAre you going to be in the 50% --- that loose your money.-- Get it out NOW.nn2012 -- - June. -- Published in Anglo INFO .Geneva.--- USA Trust Fund Investors were sent false and fraudulent documents by Pictet Bank.Switzerland. in order to collect large fees. ( Like MADOFF) ---Even after the SEC in the USA uncovered the fraud Pictet continued to charge fees and drain whatever was left in these accounts. Estimated that $90,000,000 million lost in this Pictet Ponzi scheme.nn2012 - - - July. -- De – Spiegel. -- states – Pictet Bank uses a letterbox company in nPanama and a tax loophole involving investments in London to gainnGerman millionaires as clients. nn2012 - - - August ---- German Opposition Leader accuses Swiss Banks of "organised crime." nnAll the fines that crooked Swiss banks have incurred in the last few years exceeds £75.Billion. nIt is also calculated that the secrecy " agreements" with regards to tax evation by their clients will cost the banks another £450 Billion.( paid out of your monies.)nnThe banks are panicking --- the are quickly restructuring their banks ---- from partnerships --nto " LIMITED COMPANIES." ----- this will probably mean that in the future --- they could npay you only 10% of your monies " if you are one of the lucky ones" ---- and it be legal.nnPeters &Peters – Partners.— (1999---2014)--- guilty.nnPictet & Cie. -- Partners. --- (1999 --- 2014)---guilty.nnThe bank and it’s officials/lawyers deliberately withheld crucial documents requested under a High Court order. The bank and it’s officials/lawyers deliberately withheld evidence from the Police, and one of it’s account managers Susan Broadhead gave a false witness statement to the Police. nAnother one of it’s managers Nicholas Campiche ( Now Head of Pictet – Alternative Investments.) concocted a letter pretending to be a client and closed his account. The senior partner (Ivan Pictet.) sought to have numerous documents destroyed,along with those copies held in their London office’s of Pictet Asset Management. Initially stating that they were forgeries then their lawyers Peters & Peters – Monty Raphael Q.C.–and the barrister Charles Flint.Q.C. later had to admit in Court that the documents were genuine.nnBritish Parliament. Hansard .29th March 2007.nBarry Sheerman .M.P.—quote.nn---------“ Constituents of mine have lost £2 million through fraud. The fraudster used Pictet & Cie - - a French Bank - - and Pictet Asset Management to back the fraud being perpetrated.””nnBoth Ivan Pictet and Monty Raphael.Q.C. conspired to withhold crucial documents requested by the High Court – the FSA --- and the Police Fraud Squad.nnWritten Parliamentary Questions received by the table office ..nn(1) To ask the secretary of state what steps he is taking to ensure that Swiss Banks such as Pictet & Cie do not evade criminal prosecution under EU law even when the illegal act is committed by a London based subsidiary.nn(2)To ask the secretary of state what steps he is taking to protect the rights of UK citizens who seek redress following criminal activities by Swiss banks with subsidiary offices located in London.nn*** We note that there has been a sharp increase in Peters & Peters partners leaving to go to other practices. Moving does not alleviate them of any responsibility from any illegalities that may have occurred at Peters & Peters during their partnership tenure. From 1999 onwards.nnThe consensus of opinion is the Pictet & Cie should be prosecuted , and that their U.K. banking licence should be taken away.nnTheir Solicitors at Peters & Peters .London “ struck off and prosecuted..”nn*** Started campaign --- June 6th.2008.n5 .5years ---- approx 10 .5 million e-mails - - - but still no writs, injunctions or threats of litigation - - - WHY - - - because it is all true.nn*** . The bigger they are --- the harder they fall.!!!n In America ---- they would have all been in prison for the last seven years.nnFeb 2013,--- Pictet & Cie Bank Partners remove their unlimited liability.nThey realise that all their personal wealth is at risk , the people they have conned might want their money back. nnFull Story.*** ---" Google" -----insert.--- Pictet & Cie. Bank.nnornInsert-- ( Charles Pictet. Banker.nInsert-- ( Ivan Pictet.Banker.nInsert-- ( Jacques de Saussure.Banker.nInsert-- ( Nicolas Pictet. Banker.nInsert-- ( Jean-Francois Demole.Banker.nInsert -- ( Philippe Bertherat. Banker.nInsert-- ( Renaud de Planta. Banker.nInsert. -- ( Monty Raphael.Q.C.)nnOver the last eighteen months we posted the following on hundreds of sites . ---nn*** Were currently waiting for the West Yorkshire Police ;-n(1) Chief Constable . Sir Norman Bettisonn(2) Forces Solicitor. Mike Percival.n(3) Head of Economic Crime Unit. Det Chief Inspector. Steven Taylor.nnto see if they continue to cover up this case like the FSA. – “ watch this space.”nnWe can now state that all the above have been removed from their posts. All three facing criminal allegations.nnThese three senior police officers helped and assisted the Pictet & Cie Bank in keeping crucial criminal evidence from the High Court and Court of Appeal.
November 14 at 15:47 pm
I disagree with your comments on the unfairness of Swiss incarceration.nThe incarceration rate in Switzerland is 80 for 100,000 people. In the US it is 745 for 100,000 people.n10 times MORE than Switzerland.nSince the Schengen agreements that allows free circulation throughout Europe, the number of robberies has exploded in Switzerland. How do you blame that on the Swiss?
November 4 at 20:56 pm
Switzerland is OECD compliant and has double taxation agreements with many countries. I am not sure why you think that some level of privacy is such a bad thing nowadays when scammers know no borders and are definitely interested in private financial information. Bank secrecy is routinely lifted when there is evidence of fraud however.nYou must be aware that the US is a tax haven for non-resident aliens as the US levies no taxes on that group of people. The use of Delaware LLCs makes it pretty opaque too. It is known that the US siphons funds from all of South America.
November 4 at 20:43 pm
Let me say that the US also traded gold with Germany until 1941 while they were not surrounded like Switzerland and had no pressure to do so. You also make it sound like the Swiss kept gold which is not true. The Swiss printed Francs in exchange for gold and that gold ended up in Portugal, Turkey, or Spain to pay for tungsten. The Swiss derived $28 million from it that was used to buy food and coal for its own population while sheltering 340,000 refugees.
November 4 at 20:23 pm
I disagree with your shocking comments. The charges against the Swiss banks were grossly distorted. The Volcker Committee report found that the Swiss banks did not systematically deny Holocaust victims or their heirs access to accounts after the war and did not systematically destroy bank records. $17 million was traced to holocaust victims and that was using modern databases that were not available after the war.nCompare that to the US where Holocaust assets were simply turned to the states and the paperwork shreded.
November 4 at 20:14 pm

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