How to cheat GOI Legally

If you are a big fish ( High Net Worth Individual) planning to rip the country off – anything higher than 10 million, a small business operation? – here is a simple scheme.

The modus oparandi is simple. Transfer money out to a swiss bank periodically through havala channels ( illegal money carriers) after some time route it back to stock markets through fictitious holding companies.

This is totally legal since you can not be prosecuted as shown by the latest case of Ali Khan – the infamous racing punter.

The IT department is breaking its hairs as to prosecution. The case will not hold much water since the swiss bank will not testify even a bank statement – alas due to customer relationship loyalty programme and Indian judiciary can not accept some vauge dairy entries or hard disk recoveries as prima facia evidence.

So how to nail these traitors? Can we pass /amend constitution for a law? No, then even a low life theif can write a defaming thing about you in a newspaper and get you arrested. Can Government of India ask Swiss bank to amend its principles? Very unlikely!

A country like USA would have just got the bank to freeze the account at the maximum level – not to think of Indian cloute there!

No wonder, the supreme court judges said in anguish – ‘we need to hang the corrupt people by the pole; unfortunately law does not allow this’


7 Responses to How to cheat GOI Legally

  1. What a state of affairs…..These things are very open and common….

    Hats off to the largest democracy in the world!!

  2. Ravi says:

    Hmmmmm….i seem to have read that line about the supreme court judge and what he had to say about hanging people by the pole…..??

  3. Srik,
    Yes. I forgot about the democracy business.

    Thanks for your comments.

  4. pegasus says:

    totally confused… u started illegally… so isn’t it like convertring ur white money black?

  5. pegasus,
    All these fradulant schemes convert white to black and is the bane of this country. Allmost every other trader in this country cheats. He simply bills only half the amount, pays taxes on that. The other half is black money and unaccounted. The sum of this black money is allmost parallel to white money and all stastical numbers dished out fall flat because of it.

  6. pegasus says:

    I agree black money is a big big problem….. and i know of several money laundering schemes which convert black to white…..
    but why would any scheme convert your hard earned and post tax white money to black???????
    it just does not sound logical.

  7. pegasus,
    Obviously they dont want to convert white to black. Its reverse.
    All politicians, business houses went and gave the black money in cash to ali khan, who using havala channels invested into swiss accounts. After sometime these come back to indian stock exchange in some ficitious companies. Obviously the politicians, business houses buy that in relatives names and push up the penny stock. At one point they just sell it off in market and convert the black into white. This is the complete cycle.

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