— Leaked data shows US aid for Afghan guerrillas fighting Soviet forces ended up in Akhtar Abdur Rahman’s Credit Suisse account
— Son says information ‘not correct’
— Bank says data of accounts active between 1940s-2010s taken ‘out of context’
LAHORE: A former spy chief and one of the closest aides of slain military strongman Gen. Zia ul-Haq has been named in a list of 1,400 people from Pakistan, and thousands from around the world, who trusted an iconic Switzerland bank to hold their fortunes worth millions of dollars.
The leak has revealed the hidden wealth of its clients, including hundreds of Pakistanis, ranging from business people to politically exposed individuals and those who have been investigated, and in some cases convicted, in connection with various criminal actions.
The data reveals that 1,400 Pakistani citizens are linked to approximately 600 Credit Suisse accounts. It also included information about accounts that were closed but were still operational in the past.
According to the report, the accounts of Pakistanis are diverse in nature. Additionally, they include individuals who have been or are currently under investigation by the National Accountability Bureau. Additionally, there are instances where the accused opened accounts while the investigation was ongoing and NAB was unaware of the transaction.
Numerous politically exposed individuals opened their accounts while holding public office and failed to disclose this fact in their asset declarations submitted to the Election Commission of Pakistan. One such individual received a substantial sum of money from Credit Suisse, at the height of his political career.
The data on more than 18,000 bank accounts, collectively holding more than $100 billion, operated by Credit Suisse, one of the world’s most iconic banks, ranging from the 1940s to the 2010s was leaked to Germany newspaper Sueddeutsche Zeitung, which shared it with the Organised Crime and Corruption Reporting Project (OCCRP) and 46 other news organisations, including the New York Times and the Guardian.
It is understood the Credit Suisse clients in the leaked data include customers who have done nothing wrong and have an entirely reasonable expectation of privacy in their financial affairs.
As the head of the Inter-Services Intelligence (ISI) agency, Gen. Akhtar Abdur Rahman helped funnel billions of dollars in cash and other aid from the United States and other countries to the fighters, called mujahedeen, in Afghanistan to support their fight against the Soviet Union, a Times report said.
In 1985, the same year President Ronald Reagan called for more oversight of the aid going into Afghanistan, a joint account was opened in the name of three of Rahman’s sons — Akbar, Haroon and Ghazi Khan. By 2003, the account would grow to hold $3.7 million, the leaked records show.
In 1986, another account was opened in Akbar’s name which grew to hold $9.2 million in November 2010.
Akbar and Haroon did not respond to requests for comment from the Times. In a text message, Ghazi called information about the accounts “not correct,” adding: “The content is conjectural.”
Pakistan Today could not immediately verify the authenticity of the claim.
Rahman never faced charges of stealing the money. He died in 1988 in a plane crash which also killed then-president Gen. Haq and the US Ambassador to Pakistan Arnold Lewis Raphel.
The data further shows as many as 1,400 Pakistan nationals are linked to approximately 600 accounts.
These accounts are diverse in nature and include individuals who are, or have been in the past, under investigation by the National Accountability Bureau (NAB) on graft charges.
There are also instances where the accused opened these accounts while the investigation was ongoing and the dirty money watchdog was unaware of the transactions.
Numerous politicians opened their accounts while holding public offices but failed to disclose this information in their asset declarations submitted at various times to the Election Commission of Pakistan (ECP).
The average amount in accounts held by Pakistan nationals was CHF4.42 million (Rs841 million). Some two hundred accounts held more than CHF100 million (Rs19 billion), and more than a dozen accounts were securing over a billion.
‘OUT OF CONTEXT INFORMATION’
Credit Suisse said it “strongly rejects” allegations of wrongdoing.
“Credit Suisse strongly rejects the allegations and insinuations about the bank’s purported business practices,” the bank said in a statement issued in response to the consortium’s reports.
“The matters presented are predominantly historical […] and the accounts of these matters are based on partial, inaccurate, or selective information taken out of context, resulting in tendentious interpretations of the bank’s business conduct.”
The bank said it had received “numerous inquiries” from the consortium in the past three weeks and reviewed many of the accounts in question.
“Approximately 90 percent of the reviewed accounts are today closed or were in the process of closure prior to receipt of the press inquiries, of which over 60 percent were closed before 2015,” it said.
Meanwhile, Information and Broadcasting Minister Fawad Chaudhry said Monday corruption and money laundering are major issues faced by countries like Pakistan.
Taking to Twitter, the minister said a massive leak from a Swiss bank has emerged following the Panama and Pandora papers. He added, “Prime Minister Imran Khan has continuously been raising voice over the issue, calling on the rich countries to stop this exploitation of the poor countries.”
Indirectly referring to opposition leaders’ recent huddles, Fawad said all “money launderers” are now teaming up against the PTI government.
On Sunday, a massive leak of data from Credit Suisse, one of the world’s most iconic banks, has exposed the hidden wealth of clients involved in money laundering, corruption, torture, drug trafficking and other serious crimes.
According to a report released by Organized Crime and Corruption Reporting Project (OCCRP), journalists from different countries have obtained leaked records identifying more than 18,000 accounts belonging to foreign customers who stashed their money at Credit Suisse.
