Liberia: Big Money: Liberia Lost Nearly $300M in Illegal Deposits

Sep 25, 2015 | FrontPageAfrica
View Original

In February this year, the International Consortium of Investigative Journalists website released information relating to 300 secret bank accounts accused of involvement in tax evasion scheme accordingly operated with the knowledge of British multinational bank HSBC via its Swiss subsidiary, HSBC. The investigation was conducted by over 130 journalists in European countries including France, United States, Switzerland and 46 others countries alleged that 180.6 billion euros passed through accounts held with HSBC in Geneva by over 100,000 clients and 20,000 offshore companies between November 2006 and March 2007.