NEW DELHI: Holders of four of the six Swiss Bank Accounts frozen in connection with the Bofors case have filed appeals in Swiss cantonal courts against a Geneva judge’s order, directing the banks to supply the crucial documents relating to the accounts, official sources said Thursday.
While the names of three of the account holders, who filed the appeals recently, were not known, the fourth appeal has been filed by an AE Service, a front company which allegedly received kickbacks in the Howitzer deal, the sources said.
The Swiss bank accounts, frozen in the wake of the CBI report in the Bofors case, were Lotus, Tulip, Mont Blanc, Svenska Incorporated, AE Services and an unnamed account.
The sources said the investigating judges in Geneva and Zurich were not only attempting to find out the names of the beneficiaries of the frozen Swiss bank accounts, but we also trying to probe how the money transactions took place, which, according to the sources, was a difficult task.
Referring to the money transactions, the sources said Indian authorities had information that about 50.9 million Swedish Kroners had been transferred “by the holders of the AE services accounts from Nordfinanz bank in Zurich to a Geneva bank in March 1989. However, the reason for the transfer was not known, they said.
Article extracted from this publication >> May 18, 1990
