KaBOOM and Bwaaaaaaaaah! Swiss account secret of HSBC chief Stuart Gulliver revealed

[malaise]

http://www.theguardian.com/business/2015/feb/22/swiss-account-secret-of-hsbc-chief-stuart-gulliver-revealed
<snip>
Stuart Gulliver, the HSBC chief executive who has vowed to reform the crisis-hit bank, sheltered millions of pounds in a Swiss account through a Panamanian company and remains tax domiciled in Hong Kong.

Leaked files show that the Derby-born Gulliver, who is due to present HSBC’s annual report on Monday in the wake of the international controversy over its Geneva-based private bank, was also one of its clients, holding about £5m in a Swiss account.

The bank executive was listed as the beneficial owner of an account in the name of Worcester Equities Inc, an anonymous company registered in Panama, containing a balance in 2007 of $7.6m. It was through this entity that Gulliver’s HSBC bonuses were paid until 2003. He also held a second account in the name of Worcester Foundation, which had been closed before 2007.

Although now based in the UK, where HSBC has its headquarters, Gulliver is domiciled in Hong Kong for legal and tax purposes.

The banking details have emerged as the 55-year-old Oxford University graduate, who became chief executive in January 2011, is due to face questions from reporters and investors for the first time since the Guardian and other media outlets published the leaked HSBC files, which revealed misconduct at the bank’s Swiss subsidiary.
----------------------
Good effin' grief - they are incorrigible - an incestuous cesspool of scumbags !

[blkmusclmachine]

1. 14 Defining Characteristics of Fascism (http://www.rense.com/general37/char.htm)

13. Rampant Cronyism and Corruption - Fascist regimes almost always are governed by groups of friends and associates who appoint each other to government positions and use governmental power and authority to protect their friends from accountability. It is not uncommon in fascist regimes for national resources and even treasures to be appropriated or even outright stolen by government leaders.

[malaise]

2. +1,000

They are all for sale

[Wellstone ruled]

3. Ooops,is he going to take the Schultz defense?

I know nothing!

[rhett o rick]

4. I think it goes, "I know nothink." just sayin'.

[V0ltairesGh0st]

5. I think I heard a shot.....

&index=2&list=RD8GKdH2GwaO4

[malaise]

6. You too