India has been offered legal support from Switzerland regarding the case of a high-profiled married couple that is been suspected of evading taxes while hiding money within a HSBC bank account in Geneva.
Earlier last week, tax authorities in Switzerland have stated that they were going to offer legal assistance regarding the son of a former Indian Minister, Subhash Vasant Sathe, and his wife, Indrani Vasant. The married couple are involved in the car industry, where the majority of their money is sourced.
According to reports from Indian media, tax authorities have accused the couple of hiding around $700,000 in Switzerland in a bank account they have with HSBC in Geneva. India has already received data from France, data that was stolen from HSBC, and some of the information included, was made publicly known through the press.
As per the data that was provided to Indian authorities, numerous requests were made to Switzerland for legal assistance to reclaim money that has been kept secret. India is in the hope that Switzerland will assist.
Even though Switzerland does not offer legal co-operation with countries regarding stolen bank data, each case is being assessed individually. Legal assistance is only possible in the instance that a case is not based exclusively on illegally obtained information.