Malawi named in HSBC bank ‘Swiss leaks’

In what  has been described as the “biggest banking leak in history” – about 16 people and companies with connections to Malawi have been mentioned  in a trove of secret documents from Switzerland based subsidiary of HSBC Bank that reveals names of account

Swiss leaks
Swiss leaks

holders and their balances for the year 2006-07.swiss

The Malawian names and companies have been named in the   Swiss Leaks as having illicity maintained bank accounts in the amounting to $16.1 million (about K7.5 billion) in the HSBC’s Swiss private banking arm.

The International Consortium of Investigative Journalists (ICIJ), which obtained the leaked files and created a database, have revealed who some of these wealthy clients are. They came from a variety of backgrounds, from businessmen to entertainers – who will have made their wealth legitimately plying their trades – to politicians and even a hostage negotiator!

But not all of the clients could claim to have made their money legitimately. Some of the revealed names included a collection of international outlaws – from tax dodgers and arms dealers to drug smugglers and money launderers

Malawi has received a notable mention because of how much the money in the accounts could have contributed to the country’s gross domestic product per capita ,which stood at $266 in 2007.

However, none of the people mentioned holds a Malawian passport or is a Malawian national.

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william
william
6 years ago

Ndani akunamiza ndani

Nduna
6 years ago

Kuthamanga magazi basi,mukawadziwa nde mutani??Anthu omwe anapanga CASH GATE munawadziwa nde muna pangapo Cha???

Nyaliki
Nyaliki
6 years ago

There is a lot of theft happening in Malawi. Can we get to the bottom of the issue. Nyasa investigate and mention their names. Thieves should not be shielded.

Nyaliki
Nyaliki
6 years ago

Investigate further Nyasa Times. We need their names. These people could be linked to politicians or are stealing money from Malawi.

mtima wa nyani
mtima wa nyani
6 years ago

eetu ndi conco. acina bwana muluzi ma nyumba ku UK lester amweneye mmagwilizana nawo aja akukudziwani , nanga ndalama za mmatumba zinka limimbililana na zija ku state house naga ma bwana a ujeni aja , nanga ku army amagula ma truck ku UK hard cash , nanga ku reserve bank bwanna chuka, nanga za migodi !!!!!!! heddee muonekela. lutepo acina mphwiyo muidziwa bangwe. tsopano muluzi m,nsana unapola pano sakugonaso pasi koma khothi likati liyambe nde ine, i hope kugwa mu mpapayaso nanga nsana ochookawoa hsbc yaika website yoonera maina ndi maiko omwe akuthawa misonkho, aposo kumatidyera zathu …..walls.uk.fr .muidziwa nangodusamo… Read more »

matako
matako
6 years ago

The sad part of this story is that there are no names. I am sure in due course we will get to the bottom of it. There are many greedy and corrupt people whose names would fill the blanks. With stories like these why are we Malawians continuing to remain docile and mutu phwii? These people stole from us and continues to do so and yet we continue to pretend all is well? what is wrong with us? what will it take for us to bear arms and get rid of these corrupt cancerous inept parasites?

Pichi
Pichi
6 years ago

Mwawerenga last sentence’yo?

Taweni
Taweni
6 years ago

This could be a lead to a missing one biilon dollars equivalent to 92bn kwacha carted out of the country by dpp. This figure is far from the amount of 20bn kwacha in cashgate.

Citizen

amunabawa
amunabawa
6 years ago

tiyeni tiziona

Chatty Man
Chatty Man
6 years ago

I knew it ! there’s more to come.Ma BP akwerenso anthu.

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