The Hassan Ali trail seems to have run cold. Nearly six years after tax authorities searched his businesses, the foreign assets of the stud farm owner accused of massive money laundering have not been traced beyond three accounts in UBS AG Bank in Switzerland.
Finance ministry claims cases are being pursued to trace Ali’s foreign assets, but nothing has turned up so far with documents only showing that the high profile businessman maintained foreign currency accounts of which two have not been operated and one has a balance of $60,000-odd.
The government has said legal assistance has been sought through attorney general Goolam Vahanvati but the lack of progress is being put down to the possibility of Ali’s foreign wealth being exaggerated as well as his alleged connections with politically influential persons.
Despite being described as a security risk with Supreme Court at one stage asking the government whether terror charges could be invoked against him, Ali has claimed to be a scrap dealer with a large income. Admitting to a lavish lifestyle, Ali has denied links to arms runners or crime syndicates.
Detailed news link: here
