Daily Archives: February 3, 2009

Barbados Money Laundering Advisory Sends Bombshell Letter To Giant Swiss UBS Bank

“To assist the anti-money laundering initiatives at UBS, (Barbados Money Laundering Advisory is) also including a list of names of persons who were members or operatives of the former Barbados government during the past 15 years. While Prime Minister Thompson did not mention specific names of those who presumably are under investigation for money laundering, we respectfully suggest that your internal investigators should compare these names against your banking records for individuals and corporate clients worldwide.

Should UBS determine that any of these persons or their proxies have or had dealings with any of your UBS businesses worldwide, it would seem prudent that their financial activities with UBS should be carefully examined, considering the allegations made by the Prime Minister of Barbados.”

… from a letter sent by Barbados Money Laundering Advisory to the Chairman of the Board and almost 200 employees of Swiss banking giant UBS.

Letter Names “BLP Operatives” Suspected Of Money Laundering!

When Barbados Prime Minister David Thompson told a Toronto, Canada audience last September that “operatives” of the previous BLP Government had illegally taken “millions and millions” of dollars from Barbados and stashed the the money in foreign accounts, I wonder if he gave consideration to the thought that somebody might act upon his revelations?

A new blog called Barbados Money Laundering Advisory (BMLA) has just sent Prime Minister Thompson’s comments to about 200 senior executives of UBS – the huge Swiss bank that is “the world’s largest handler of private wealth assets.”

Oh… along with Thompson’s allegations, BMLA also sent a “list of names of persons who were members or operatives of the former Barbados government” so UBS can check the names against their banking records.


Who is on “the list”?

Start with Owen $ Arthur and work your way along!

Swiss banking giant UBS got nailed by U.S. tax authorities last year when bank employees were arrested in the USA while smuggling assets and records across the border. Barbados Free Press related in our article a few weeks ago that U.S. prosecutors have alleged UBS helped clients hide $18 billion of untaxed American money in undeclared accounts. This amounts to around $300 million of annual unpaid taxes.

We agree with commenter “Oldrooster” at Barbados Money Laundering Advisory blog…

“UBS will be anxious to prove they are through with illegal offshore monies. This letter could be problematic for some on the list!”

Further Reading

BMLA: UBS Bank Switzerland Advised Of Barbados Prime Minister’s “Secret Bank Accounts” Speech


Filed under Barbados, Corruption, Offshore Investments, Political Corruption, Politics, Politics & Corruption