Hasan Ali Khan

Hasan Ali Khan is a 53-year-old stud-farm owner and an alleged underground multi-billionaire worth USD 8-9 billion, according to police-authorities. Officers in investigating agencies in India claimed that this stud farm owner could be the latest unknown multi-billionaire on the block. His wealth is said to be in the region of anything between USD 8-9 billion and most of it unaccounted [http://timesofindia.indiatimes.com/articleshow/1738500.cms] . He allegedly stashed US$ 8 billion in his Swiss bank accounts (mostly in Union Bank of Switzerland [ [http://209.85.175.104/search?q=cache:wvsu04SD0OAJ:timesofindia.indiatimes.com/India/ED_goes_slow_on_Hassan_arrest/articleshow/2752034.cms+site:timesofindia.indiatimes.com+Hasan+Ali+Khan&hl=en&ct=clnk&cd=6 ED goes slow on Hassan arrest (including his photograph)] ] and United Bank of Switzerland [http://www.livemint.com/2008/02/02001510/UBS-deal-died-over-unexplained.html] ) through money-laundering. His wife Reema and her brother Faisal Abbas have allegedly helped him hide since 2007. While Khan's associate, Philip Anandraj has received an order for the release of his passport from the Mumbai special court for the Prevention of Money Laundering Act (PMLA) last week, Khan's lawyer Majid Memon said "his client was not in touch with him" as of 17 August 2008 [ [http://timesofindia.indiatimes.com/Cities/Mumbai/Hassan_Ali_trail_Worli_police_hunt_for_wife_bro-in-law/articleshow/3372431.cms Hassan Ali trail: Worli police hunt for wife, bro-in-law] , "Times of India, 17 Aug 2008"] . He was a Pune-resident and horse trading circles describe him as a smart punter but a small time horse owner [http://timesofindia.indiatimes.com/articleshow/1738500.cms] .

The reluctance of these top Swiss banks mentioned above to help Indian investigators is slowing the unravelling of an intricate multinational trail of money transfers—across Switzerland, New York, the British Virgin Islands and Pune—between an Indian horse owner and a fugitive Saudi arms dealer, according to officials in the Enforcement Directorate, the government body that investigates economic crimes. Investigators from the ED, who recently claim to have found $8 billion in the Swiss bank accounts of Hasan Ali Khan, say they now have evidence of a $300 million transfer to him (via a Chase Manhattan bank account in New York) from billionaire Saudi arms dealer Adnan Khashoggi, whose arms supplies to Tamil terrorists, the LTTE, were revealed during an investigation into the 1991 assassination of Rajiv Gandhi. The government has told the Bombay high court that the Khans are “virtually absconding” and if they are allowed to leave India, investigations could collapse. Khan’s counsel, Milind Sathe, said his client “regularly appeared before the Directorate”. Asked where Khan was, his main lawyer, Mugdha Jadhav, said: “Can’t tell you, sorry.” [http://www.livemint.com/2008/02/02001510/UBS-deal-died-over-unexplained.html]

ee also

*Adnan Khashoggi

External links

* http://timesofindia.indiatimes.com/India/Police_serve_notice_to_Hasan_Ali_Khan/articleshow/1746413.cms
*http://209.85.175.104/search?q=cache:wyqfRIFgMxAJ:timesofindia.indiatimes.com/articleshow/1746713.cms+site:timesofindia.indiatimes.com+Hasan+Ali+Khan&hl=en&ct=clnk&cd=2

References