Whistleblower to Expose Offshore Accounts of ‘High Net Worth Individuals’ to WikiLeaks

January 17, 2011

(ChattahBox World News)— A Swiss whistleblower at odds with offshore banks’ participation in the tax-evasion practices of the super-wealthy, says he plans to hand over confidential banking files to WikiLeaks. Rudolf Elmer, a former Cayman Islands executive with Julius Baer bank, who was jailed several years ago for violating Swiss banking laws, plans to expose the tax evasion of hedge funds and 2,000 “high net worth individuals,” before he returns to Switzerland to face criminal charges. This is not the first time Elmer leaked secret offshore banking files. In 2008, he gave WikiLeaks the offshore banking documents of 15 wealthy customers of Julias Baer bank.

So far, WikiLeaks founder Julian Assange who is fighting extradition to Sweden for rape and sexual misconduct charges, has not revealed the identities of Elmer’s tax-evading clients. But Assange is holding on to his cache of leaked files, as “insurance” in the event anything happens to him.

Meanwhile, Elmer is perhaps, pulling the same stunt by so publicly handing over evidence of tax evasion by powerfully-connected people, including he says, dozens of politicians.

The Guardian reports:

“Elmer says he is releasing the information “in order to educate society”. The list includes “high net worth individuals”, multinational conglomerates and financial institutions – hedge funds”. They are said to be “using secrecy as a screen to hide behind in order to avoid paying tax”. They come from the US, Britain, Germany, Austria and Asia – “from all over.”‘

“Clients include “business people, politicians, people who have made their living in the arts and multinational conglomerates – from both sides of the Atlantic”. Elmer says: “Well-known pillars of society will hold investment portfolios and may include houses, trading companies, artwork, yachts, jewellery, horses, and so on.”‘

“What I am objecting to is not one particular bank, but a system of structures,” he told the Observer. “I have worked for major banks other than Julius Baer, and the one thing on which I am absolutely clear is that the banks know, and the big boys know, that money is being secreted away for tax-evasion purposes, and other things such as money-laundering – although these cases involve tax evasion.”

Julias Baer bank is accusing Elmer of stealing bank documents and then falsifying them to make the bank look bad.

It makes you wonder who may be shaking in their boots right about now.


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