Swiss bank BSI helped its clients in hiding assets and money laundering

17:34 05.05.2016

BSI in March 2015 passed the US tax authorities the customer data that should have to pay taxes in the United States, and he agreed to pay $ 211 million fine (three times more than its profit for 2013). The BSI agreement with the United States describes how the bank helped clients evade taxes. BSI in a hurry to reach an agreement with the United States: it is ready for sale, and without an agreement there would be no deal.

About the same mechanisms known and the British authorities. In September 2008, a former employee of the London office of BSI, appearing in the article FT named Andrea, said FCA financial management and tax department as BSI helps clients hide assets, avoid taxes and launder money. FT also gained access to internal documents of the BSI.

Founded in 1873 by BSI (previously — Banca della Svizzera Italiana) is among the ten largest banks in Switzerland. It has 125,000 customers and $ 80 billion of assets under management. BSI has offices in Europe, Asia, Latin America and the Middle East.

Among those who had to do with the London office of the BSI, were Hofiz Shahidi and Abdumalik Mirakhmedov, in 2000 graduated from the Economics Faculty of the University of Essex. Shahidi 2002 Recipientsl BSI office in London office, where he began to work with the bank’s wealthy clients. Mirakhmedov since 2000 collaborated with three businessmen founded in Kazakhstan, Eurasian Natural Resources Corporation (ENRC; we are talking about Alexander Mashkevich, Patokh Chodieva and Alijan Ibragimov — «Vedomosti.»). In addition to working in ENRC at Mirahmedova he had a contract to BSI, where he worked promoter. So the bank referred to those who, without being a formal employee, helped him attract customers. Profit from the customer’s bank account management shared with the promoter.

Mirakhmedov was the star of the BSI. «He is friends with everyone can agree with anyone,» — says a person familiar with the operations of London BSI. Mirakhmedov BSI has led to at least 19 clients with $ 47 million of assets, it should be from internal documents. In 2006, the Bank has promised half Mirahmedovu future income accounts, if it leads to the bank at least one of four people, two of whom were major Russian oligarchs. At least one of them became a customer BSI, writes the FT.

In September 2006, Shahidi flew to the wedding son Ibragimov Davran. In 2006, ENRC has received $ 3.3 billion mantasincome and preparing for an IPO in London. According to the calculations Shahidi if Ibragimov would become the BSI client, the bank would have received $ 85 million in management. Although Ibragimov reputation was faulty, private detectives persuaded the BSI, that Ibragimov «no worse than others.» Yet BSI found it too risky client. But Shahidi not retreated, and after the London IPO ENRC in 2007, he persuaded the bank to get the money, which had relevance to the founders of the company.

ENRC placement was successful: its shares were even in the FTSE-100 index, but not for long. In 2013, the United Kingdom launched a criminal investigation against ENRC on suspicion of fraud, bribery and corruption, and ENRC left from London, and then ceased to be a public — shares at a price two times lower than the placement founders bought with the support of the Government of Kazakhstan.

Mirakhmedov was associated with at least three offshore companies. BSI has worked with Panamanian Aleman, Cordero, Galindo & Lee. In one case, her lawyers have created a company in the British Virgin Islands, was appointed in her directors of its agents, who have placed the name of BSI 50,000 shares and transferred them to the Panamanian company controlled bytion Aleman. It will take one day, the end of which Mirakhmedov became the owner of the offshore company.

Among BSI customers featured construction magnate from the Balkan countries involved in kickbacks scandal in Moscow under the presidency of Boris Yeltsin, a member of Qatar’s royal family, known as the «modern Medici» and implicated in a corruption scandal. One of London’s bankers BSI scored (via Zurich and Gibraltar) Russian-Ukrainian businessman, allegedly associated with the St. Petersburg criminal gangs.

In 2008, BSI closed the London office, and clients’ money transferred to other units — in Switzerland, Monaco, Dubai. After the agreement with the US BSI twice changed owners. At first, it was sold to the Brazilian BTG Pactual. But in November 2015, he was arrested by BTG Pactual CEO Andre Esteves, its shares have collapsed to a quarter, and BSI was sold to the Swiss EFG International. In the case of completion of the transaction in Switzerland’s largest bank will be created to service wealthy clients with $ 170 billion under management. Although BSI British authorities raised questions, in this country, charges have been brought against him.