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richc

Head Of Hsbc Holds Millions In Secret Panamanian Bank Account

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The FT is reporting that among the list of names of HSBC secret account holders in Switzerland is the head of HSBC, Stuart Gulliver, who held several million in a secret account in Panama via the Swiss branch of HSBC.

All perfectly legit, I'm sure. ;)

You would think that with HSBC's banking license at risk in the USA, they would be ever so slightly more careful about these things.

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The HSBC statement released in relation to this latest news confirms that he is UK resident for tax purposes (and a non-dom). I think I call ******** on the non-dom thing for this bloke, but there is no way of proving it of course and the Panamanian company seems at best 'sketchy', given that all the completely legitimate/legal things could have been achieved solely involving entities in Hong Kong and Switzerland.

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The FT is reporting that among the list of names of HSBC secret account holders in Switzerland is the head of HSBC, Stuart Gulliver, who held several million in a secret account in Panama via the Swiss branch of HSBC.

All perfectly legit, I'm sure. ;)

You would think that with HSBC's banking license at risk in the USA, they would be ever so slightly more careful about these things.

Too big to jail.

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http://www.theguardian.com/business/2015/feb/22/swiss-account-secret-of-hsbc-chief-stuart-gulliver-revealed?CMP=share_btn_tw

Dont worry, his own money may be hidden in Panama via HSBC swiss tax subsidiary but at least the British taxpayer is still on the hook for his mistakes via BOEs bankstering licence and lender of last resort.

If only Hsbc would f*ck off to hong kong like their non-dom tax avoiding boss.

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You do realize there's nothing illegal about having a foreign bank account?

As I understand it, he's a non-dom in the UK, so there's no need of some 'secret' account, because any money he earns and keeps outside the UK isn't taxed.

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