8 Nepalis stashed cash in HSBC Swiss branch: ICJ

8 Nepalis stashed cash in HSBC Swiss branch: ICJ

While Nepali youths are scrambling for menial jobs in the Gulf countries, it has been revealed that 54 million US dollars has been found stashed away on the accounts of Nepali people at the private HSBC bank of Switzerland.

The amount deposited at the bank is likely to have been stashed away either through tax evasion or embezzlement of the government fund, revealed Swiss Leak.

With this money stashed away at the HSBC bank, Nepal has also been listed among many politicians, high ranking officials from various walks of life including criminals who have been depositing their money earned through illegal means.

This list includes as many as 203 countries, with Nepal lining up in the 116th position based on the amount deposited. As per the statistics revealed by ICJ, there are 12 confidential accounts on the names of eight Nepali people. The accounts bear 54 million US dollars.

However, the information leaked to the renowned media has not mentioned the names of the Nepali account holders. The list which had been leaked in 2007 featured as many as 100,000 people. Earlier in 2013, ICJ had made public13 Nepali people with their accounts in the Swiss bank.

As the number of Nepali migrant workers in the Gulf countries soared up, the per capita income of Nepali people had reached USD 2,310 in 2013, according to World Bank. The accounts bearing a huge amount of money by various world leaders including Nepali people have surfaced at a time when Nepali youths are scrambling for jobs to solve their hand-to-mouth problems in the Gulf countries.

The government should correspondent to the HSBC bank to verify the accounts allegedly opened by the Nepali people. HSBC Bank has been blamed for advising account holders to deposit money by evading tax or misappropriating government or public fund. Depositing money in the foreign bank is illegal in accordance with the Nepali law. Swiss bank has admitted that some people have deposited money taking advantage of the confidential provision of account system of the bank.

Source: Republica