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.

Wuhloss!

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

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48 Comments

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

48 responses to “Barbados Money Laundering Advisory Sends Bombshell Letter To Giant Swiss UBS Bank

  1. Chicago

    THIS should be most interesting!

  2. Sundowner

    Can’t wait!

  3. Sargeant

    So someone from a blog sends a letter to UBS with a list of names and requests that the Bank provide details of money laundering because Thompson made some allegations in a speech.

    The executives at UBS are scurrying up and down and burning the midnight oil trying to retrieve the information, right after they’ve picked themselves off the floor.

    I must have stumbled onto the comedy section.

  4. Sad To Say

    Sargeant: I tend to agree with you this time around.

  5. Hants

    BFP are you merging with Keltruth blog?

    Just asking?

  6. Anon

    Why only black people names on this list?

    Only black people does tief?

  7. cq8

    1/ Prime Minister Thompson of Barbados alleges millions and millions stolen and put offshore by “BLP operatives”.

    2/ UBS Bank gets done for money laundering.

    3/ UBS is the largest “private wealth” bank in the world.

    4/ Specific names of “BLP operatives” are sent to UBS.

    I think that UBS will be paranoid. I think that if any of the names on the list have accounts at UBS, they will be asked to leave just like the 19,000 other “foreign” accounts.

    This IS interesting!

  8. Jason

    I’m having a hard time figuring out the motivation of Barbados Money Laundering Advisory, but I don’t think that UBS will ignore the letter. I think that UBS will check their client records and that if anyone on the list has a UBS account they might experience some closer examination.

    I think that this is far bigger than many people will realize. People will try to minimize the impact of the letter but I believe that serious consequences will follow the letter.

  9. Hants

    leh muh see. Which idiot bajan politico wud lef money he tief in a swiss bank when evah body done know duh cuh get ketch.

    All dah money wanna talking bout probly in safety deposit boxes in de states or Canada in duh family name.

    Yuh know how we like to mix an match widdout matrimoney so Mr. Pork bredda last name might be Mr.Guava not to mention de 3rd an 4th cusans twice remove.

    Personally, I tink some a de money musse in Russia cau de had a bajan fella charge wid pro curing russian caviars for de purpose of enhancing de experiance of dose who like eating bacon.

    I en even fire a likka yet an I hey writing bare …..

  10. Sad To Say

    I was once told by someone very close to (in bed with) a CIA operative that there is a list of Bajans who were clearly identified as money launderers however it was not in the US’ interest to expose these names to the world because the consequences would be too destabilising to BDS – a long-term friend of the US in this hemisphere. The names on this list extend across the political spectrum and neither the Bs or the Ds have anything to gain from this exercise. Therefore we are more than likely flogging a dead horse here.

  11. Jason

    Hants, Swiss banks were previously impervious.

    The recent debacle with the USA has changed all that. Computers and data sharing have changed everything.

    Don’t kid yourself. This letter is serious business for anyone on the list because the banks can’t afford to be caught hiding anyone’s money.

  12. Sad To Say

    Hants: Did you forget to take your medication once again?

  13. Tell me Why

    I read the story at it simply doesn’t warrant any comment after reading only known BLP figureheads being mentioned. Am I to believe that only members of the past administration were involved with money laundering? By sending letters to UBS personnel give the impression that these people indicate any money laundering? Where are the evidence from these people?

    I believe anyone involved in Money Laundering should be held to account, but we must be cognisant to the fact that we can not point fingers at a selected few, we must do it to all starting from who ever called the bluff. BTW,

    Should we believe that this might be a deterrent from what is happening with the Clico saga?

  14. J

    Sad to Say wrote “I was once told by someone very close to (in bed with) a CIA operative”

    So how you know that the person was a CIA operative?

    Do you think that CIA operatives does walk around saying “I am a CIA operative”

    Do you think that they tell their casual sex partners or ever their staunch women “I am a CIA operative”

    Stupseee!!!!!!!!!!!!!!!!!!!

  15. laundered assets

    “The names on this list extend across the political spectrum and neither the Bs or the Ds have anything to gain from this exercise.”

    This makes perfect sense as no names have ever been released by the FBI as to the investigation into Barbadians holding US Bank accounts. As well Thompson has failed to diligently pursue Veco, Dodds, 3S and Kensington as promised.

    Since the Keltruth blog and one of the beneficiaries is a US citizen out of Florida, I wonder how long the hiding of these assets to the detriment of a US citizen will be tolerated especially if it breaks all kinds of US and International Laws?

  16. J

    And Sad to Say you must know that lying about the bedroom business is the most popular sport in the world.

  17. Anonymous

    Why is Philip Goddard’s name not there?

  18. Elombe

    Why is Philip Goddard’s name not on the list?EB

  19. J

    Keltruth/BMLA/BFP realy ain’t know wuh going on.

    Keltruth/BLA needs to move from Pembroke Pines, get on the ground and know things.

    As as somebody else asked in another forum, how come Philip Goddard name ain’t on here?

  20. oops

    You may have missed out a kingpin in this program GLYNE BANNISTER, not to mention DAVID SHOREY, MACKIE HOLDER.

  21. Sad To Say

    J: Have you ever come across a person who just fits the bill of a CIA operative – American, dresses in Hawaiian shirts, tries very hard to fit in, knows a lot about nationally sensitive issues, tries to pick your brains about government officials, can provide uncanny detail about remote individuals and flat out denies being a CIA operative. If you have ever come across this type of person you may have crossed paths with a CIA operative.

  22. Turkey

    Elombe
    February 4, 2009 at 2:58 am
    Why is Philip Goddard’s name not on the list?EB
    ==============================

    Because Phillip Goddard is white as Casper. BFP has decided that white bajans are a minority and must be protected at all cost.

    Liz Thompson is racist for calling Richard Goddard a caucasion.

    Owen Arthur must not use the word negrocrat

    a young black boy got he face licked in by two white men up in Highgate gardens and very little was said about it by BFP.

    The pattern is clear to me, wuh bout you?

    uh gone!

  23. Jason

    Uh, turkey (aptly named), bfp didn’t publish the list. Keltruth/Barbados Money Laundering Advisory did.

    Plus they would probably be happy to add to it any names of any BLP operators.

    Turkey you are trying to inject your agenda into a story about the BLP and the BLP and their government were 99% black, and so is the list of BLP operators.

    You are a turkey.

  24. PiedPiper

    Turkey = AH

  25. Anon

    This letter is a laughable non-event. Do you really think that conjecture, newspaper clippings and names picked from the air will see anything more than a trash can at UBS, or at the very best – a generic “thank you” letter. Anyone who believes this would be effective is an ass, and the question deserves being asked again – (1) why only known BLP ‘operatives’? (2) why no DLP names? and (3) why no Caucasians? It’s been asked enough times to make anyone wonder – are only black people in Barbados thieves and money launderers?

  26. Diggit

    Just like PP=S. Pot calling the kettle black. People in glass houses ….

  27. Diggit

    Just like PP=S. Pot calling the kettle black. People in glass houses ….

  28. David Brooks

    (Also, posted on Barbados Money Laundering Advisory blog)

    I think this whole thing is getting out of hand. I also think someone needs to take a deep breath or two, maybe three, and let out all the tension and/or take a happy pile and relax for a while.

    Why not send the entire list of ALL politcal “operatives” (from ALL governments formed in Barbados) since 1966. Send mine, better yet send them the whole Barbados Telephone Directory.

    I really think that all of this sniping back and forth will in fact end up with someone getting hurt, and I will have to say that it is ALL parties that would have to SHARE the blame, with Keltruth, et al. tipping the scale a bit – sorry, but that’s how I see it.

    Enough is enough. There is a time and place for everything and there is also a time to bury the hatchet and move on. Let those have ears (or should that go) those have the wisdom to listen …

    ******************************

    BFP says,

    “Bury the hatchet” ?????

    Sure…. when the money is returned, and when a Barbados government is honest enough to implement ITAL – Integrity, Transparency and Accountability Legislation. Until then, we think it is a grand idea to send every politician’s name to the foreign banks to draw attention to the lack of oversight and accountability in Barbados.

  29. David Brooks

    There is no need to expose … because some of what they has been pushing at is true, I just think its gone too far and it sounding like extreme tactics.

    As they say, two wrongs don’t make a right.

  30. Anony

    Slimy Sylvan not on the list either.

  31. what is this list based upon? the statements of the PM? if he says tomorrow he feels that Jane Doe stole money or misappropriated funds due to a connection with a government minister, you will just add Jane Doe’s name to the list?

    Is there proof?

    This seems irresponsible.
    ************************

    BFP says,

    We agree with BMLA that Prime Minister Thompson said that operatives of the BLP took “millions and millions” and put the stolen dollars in offshore accounts. We join in calling for the international banking community to make Barbados government officials accountable IF they have foreign bank accounts.

    Those politicians who don’t have Swiss accounts shouldn’t be worried, should they?

  32. Kofi

    I have learnt a long time ago never to believe anything that that blasted liar Thompson says. He led thousands to Queens Park to reveal to us the contents of an IFM secret deal that Owen was supposed to have had. We stood out on that pasture like a bunch of jackasses waiting to hear this thing, which never came.

    At the end of the night though we deserved to be treated like that because we were hungry for malicious gossip and salacious news. But I am finished with that nonsense now.

    I laugh when I heard Thompson talking about the $700,000.00 he claimed Owen received in his name on behalf of the BLP. Thompson should be ashamed. I was present during the 1999 election in the old Opposition Office at Parliament with Johnny Tudor and his wife, Thompson and the two big boys from Clico when they brought the big cheque for the DLP.

    When Johnny instructed the men from Clico to make out the cheque to the DLP Thompson interjected and instructed that the cheque be made out to himself and that was done. What is interesting is that the cheque was far bigger than $700,000.00.

    If Barbadians don’t understand Thompson all they need to do is watch the things he does as opposed to the things he says. They are usually miles apart. For example: Thompson speaks of the sordid mess at UDC. He gives the impression that the level of corruption requires police intervention. I ask you, who was in charge of UDC under the BLP? Was it not Hammie? Who is the man that Thompson just appointed as advisor to the Minister at UDC? Is it not the same Hammie.

    If UDC is in a mess it would be Hammie to blame. So how could you want to clean up that mess but go and reappoint the same man that was responsible for the mess in the first place. Thompson is pure fluff. He can’t fool me.

    Thompson said that the last administration bankrupted this economy. He can’t get a stimulus package in place yet to stop the loss of jobs in this country but he can get $10 million of our money in the hands of his sweet lover boy Parris at Clico to further lick out on their shopping sprees in their private jet.

    Clico gave the DLP an open cheque to run their campaign in the last election so you can understand the urgency to bailout Clico with taxpayer’s money.

  33. Hants

    Given that Keltruth removed the post about a Canadian law firm, can we expect they will have to deal with Lawyers representing persons on the “list”.

    This could get interesting. Very interesting especially if some of the persons listed are innocent.

    ********************
    BFP says,

    It is simply a list for the bank to check to see if anyone has a Swiss account. If the BLP operatives on the list don’t have a Swiss bank account, there is nothing to worry about and no harm done.

    Of course, if they do have a Swiss bank account, that is a whole other matter…

  34. Chicago

    The list does not say that people are guilty. Only that the bank should look to see if they have accounts and in light of the comments from the PM, if they do have accounts, take a closer look at the transactions.

    That seems reasonable to me!

  35. Kofi

    I hope the PM included himself on the list as well as Hartley Henry, Leroy Parris and the likes.

  36. Anon

    There will be hell to pay for Keltruth when those lawsuits come. Hell to pay!

  37. J

    Sad to say wrote “J: Have you ever come across a person who just fits the bill of a CIA operative – American, dresses in Hawaiian shirts, tries very hard to fit in, knows a lot about nationally sensitive issues, tries to pick your brains about government officials, can provide uncanny detail about remote individuals and flat out denies being a CIA operative. ”

    Sounds more like an over-zealous tourist to me.

  38. Pat

    Anon
    February 4, 2009 at 12:09 pm

    This letter is a laughable non-event. Do you really think that conjecture, newspaper clippings and names picked from the air will see anything more than a trash can at UBS, or at the very best – a generic “thank you” letter. Anyone who believes this would be effective is an ass, and the question deserves being asked again – (1) why only known BLP ‘operatives’? (2) why no DLP names? and (3) why no Caucasians? It’s been asked enough times to make anyone wonder – are only black people in Barbados thieves and money launderers?

    *****************************

    You have it right, Anon. Bank records are confidential. Requests for information require a court order, or at least in some countries a ‘police’ demand, where this is written into the constitution.

    I would like to see MY bank giving out my personal information to anyone. They will be sued!

    ******************************

    BFP says

    The letter to UBS does not ask for any information! It merely says that IF any of the following persons have Swiss bank accounts at UBS, the bank should carefully examine the financial transactions, considering the statements of Prime Minister Thompson.

  39. J

    Dear Sad to Say:

    You wrote “dresses in Hawaiian shirts, tries very hard to fit in”

    I think you have a conflict here. Surely a loud mouth who dresses in even louder shirts cannot possibly be trying to fit in.

  40. Sad To Say

    J: If I was forced to take a guess I suspect that you are in your early 20’s, spent most of your formative years with your head buried in your books and you have just started along the path of the University of Life. In time you may develop your Emotional IQ and along the way you will find it easier to delve behind a person’s facade. There is still hope my brother/ sister.

  41. Much easier to find money-launderers:

    Look at their business/ earning capacity, compare to their lifestyle, or wealth.

    Yes, one may need to know bank balances to know wealth, but generally it takes a rare person to not spend at least some of what they have, especially as persons who launder are after the money to….spend!

    When lifestyle is in excess of earning capacity, this indicates a problem, either excess credit, or ‘another’ source of income.

  42. Tell me Why

    When lifestyle is in excess of earning capacity, this indicates a problem, either excess credit, or ‘another’ source of income.
    ………………………………………………………………………………….
    Also drugs in this equation

  43. Knight of the Long Knives

    Kofi is clearly a BLP operative so he should be on there as well. Apart from that its much ado about nothing as no bank will be revealing confidential info about any of its clients without a warrant nor should they. If I had a bank account there and they revealed any of my info or even if I had an account there without a warrant they would have to talk to my lawyers.

  44. J

    “UBS will be anxious to prove they are through with illegal offshore monies”

    More likely UBS will be be much more careful when moving assets and records in and out of the U.S.

    However I expect that the letter from BMLA has long since hit file 13 along with the letters from those folks who promise $millions from an newly discovered relative who unfortunately died in an air crash, and who provide a newspaper clipping to prove it. All you need to send the scamsters your name, address, and banking information and millions will show up in your bank account.

    Right!!!!!!!!!!!

  45. pt8

    J, the problem with “file 13” for such a specific letter is that it can come back to haunt the reader in a big way a year from now.

    No, I think rather than file 13 the Board of Directors would send the letter to internal investigations and ask if any of the names are customers.

    If not, no problem. If any of them were customers though I would think that discrete inquiries would be made with the bank’s legal department.

    It may or may not go any further, but don’t kid yourself. These days upon receiving such a letter (from a crackpot or not) everyone is in CYA mode.

    As in “Cover your …. A”

  46. Pingback: ARE BARBADOS LAWYERS COVERED BY ANTI-MONEY LAUNDERING LEGISLATION? « Barbados Money Laundering Advisory

  47. Keltruth Corp.

    Thanks for the suggestions. I have added three more names to the list of BLP operatives, one of whom is Philip Goddard, who as a recent Minister is an excellent choice. (Unfortunately I missed him as he had not contested an election in the past 15 years.)

    Anon and others have suggested that the list is insufficiently diverse. You are probably right! Bearing this in mind, can you suggest some names?

  48. reluctant nonbeliever

    I really thought Thompson and co were going to be different.

    I remember how excited my wife and I were on election night. A new start, an end to corruption and croneyism. I really believed it could happen.

    Now I just feel like a naive fool.

    The bitter truth gets clearer every day:

    same trough, different pigs.

    😦