Swiss Bank’s Corrupt Influence Poisons U.S. Political Process

Swiss Bank’s Corrupt Influence Poisons U.S. Political Process

By Pete Papaherakles

UBS, the Swiss megabank that was slapped with a $1.5B fine in December for scamming European interest rates, is no stranger to corruption. But while the bank has been repeatedly accused of corruption in recent years, it remains a huge donor to United States politicians and is a major lobbyist on Capitol Hill.

UBS is headquartered in Zurich, Switzerland, with its American operations based in New York. The financial giant is the largest bank in Switzerland and the second largest European bank. It is also considered the world’s second largest manager of private wealth assets, with over $2.2T in invested assets.


Even though UBS has paid more than $1B in fines for financial crimes in recent years, that doesn’t seem to have scared away many lawmakers or President Obama who have received generous contributions from the megabank. In the last decade, it has tended to give more campaign money to Republicans, which is most likely due to the fact that Republicans have been actively seeking to roll back recent financial reforms put in place following the collapse of the U.S. economy in 2008.

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Last month’s LIBOR scandal settlement is only the latest in a string of problems for UBS going back to the start of the financial crisis. In 2008, the bank paid $150M in fines for securities violations. In 2009, the bank paid a $780M fine for helping wealthy Americans evade taxes by keeping offshore bank accounts secret from the U.S. government. In the recent LIBOR scandal of course, UBS paid $1.5B for conspiring with other banks to manipulate interest rates in $350T worth of loans and derivatives.

While the investigations into all these UBS scandalswere unfolding, the bank’s employees and its political action committee (PAC) gave $11M in federal campaign contributions, according to records compiled by the Center for Responsive Politics. In 2012 the bank spent over $2M on lobbying and campaign contributions. That ranks in the top 1% of contributors.

Campaign contributions to candidates and their PACs totaled $1,534,163. Mitt Romney’s PAC was the biggest benefactor, with $398,000. Barack Obama came in second, with $112,000. About a hundred politicians received contributions with Newt Gingrich second to last with $3,750. The top 10 after Romney and Obama are as follows: Sen. Kirsten Gillibrand (D-N.Y.), $32,245; Sen. Scott Brown (R-Mass.), $27,666; Sen. Bob Corker (R-Tenn.), $23,450; Sen. Mitch McConnell (R-Ky.), $14,500; Rep. John Boehner (R-Ohio), $14,250; Sen. Robert Menendez (D-N.J.), $13,650; Sen. Clark Durant (R-Mich.), $13,500; Rep. Ed Royce (R-Calif.), $13,500; Gov. Rick Perry’s presidential campaign (R), $12,750; and Rep. Eric Cantor (R-Va.), $12,500.

Other notables include Rep. Kevin McCarthy (R-Calif), $12,500; Rep. Paul Ryan (R-Wisc.), $11,200; Sen. Orrin Hatch (R-Utah), $10,000; Rep. Darryl Issa (R-Calif.), $5,000; Rep. Ron Paul (R-Texas), $4,951; and Rep. Michelle Bachman (R-Minn.), $4,200.

Peter Papaherakles, a U.S. citizen since 1986, was born in Greece. He is AFP’s outreach director. If you would like to see AFP speakers at your rally, contact Pete at 202-544-5977.

2 Responses to Swiss Bank’s Corrupt Influence Poisons U.S. Political Process

  1. jack loach says:
    Update — Nov. 2014. Pictet & Cie Bank —- List of Crimes. Full Story— “Google” —- Pictet & Cie Bank.

    1996 —– F.S.A. — Breach in London.

    2003 —– F.S.A. — States rogues operating in Pictet’s London office. Ivan Pictet states that documents were forgeries but were later proved to be genuine in the British Courts. He had documents destroyed in their London office — hoping to hide the crimes.

    2007 – – – The Securities and Exchange Surveillance issued a recommendation that the Prime Minister and The Commissioner of the FSA to take disciplinary action against Pictet Asset Management – Japan Ltd.

    2008 — Dec. – Pictet Bank states – “We have never chosen any funds linked to Madoff.”

    2011 – – – Madoff Trustees sue Pictet & Cie Bank for $156 million.

    2011- – – Pictet & Cie Bank abetted a Bribery Scheme – Oil company sues Pictet for $350 million

    2012 – – – April – Geneva Bank Pictet used in Offshore Tax Scheme. (USA)

    2012 — June — Published in Anglo INFO Geneva— USA Trust Fund Investors were sent false and fraudulent documents by Pictet Bank in order to collect large fees. (Like MADOFF) Even after the SEC in the USA uncovered the fraud Pictet continued to charge fees and drain whatever was left in these accounts. Estimated that $90 million lost in this Pictet Ponzi scheme.

    2012 – – – July. — Der Spiegel states – Pictet Bank uses a letterbox company in Panama and a tax loophole involving investments in London to gain German millionaires as clients.

    2012 – – – August —- German Opposition Leader accuses Swiss Banks of “organised crime.”

    2013 — Jan.— Swiss MP table motion to freeze Tiab Mahmud’s assets of “criminal origins” held in Swiss banks – $18 million held in 5 accounts at Pictet & Cie Bank Bahamas.

    Ironically the Pictet & Cie Bank partners are bigger criminals than the criminals who have accounts in the their bank.

    The bank is now seeking to restructure — to cut the partners liability – hoping to off load their decades of criminal responsibility – and move onwards to carry out new crimes. The Germans are right — the bankers should go to prison if found guilty of financial crimes.

    Swiss Bank Accounts. Oct. 2014.

    Are your monies safe in these accounts —- definitely NOT. Would you get your money back if every body decided to withdraw all their accounts – NO WAY.
    Economic Experts say that there would only enough money to repay 50% of their clients. Are you going to be in the 50% — that lose your money. Get it out NOW.

    2012 — June — Published in Anglo INFO Geneva — USA Trust Fund Investors were sent false and fraudulent documents by Pictet Bank Switzerland in order to collect large fees. (Like MADOFF) — Even after the SEC in the USA uncovered the fraud Pictet continued to charge fees and drain whatever was left in these accounts. Estimated that $90,000,000 million lost in this Pictet Ponzi scheme.

    2012 – – – July. — Der Spiegel states – Pictet Bank uses a letterbox company in Panama and a tax loophole involving investments in London to gain
    German millionaires as clients.

    2012 – – – August —- German Opposition Leader accuses Swiss Banks of “organised crime.”

    All the fines that crooked Swiss banks have incurred in the last few years exceeds £75 billion. It is also calculated that the secrecy “agreements” with regards to tax evasion by their clients will cost the banks another £450 billion. (paid out of your monies.)

    The banks are panicking — the are quickly restructuring their banks —- from partnerships — to ” LIMITED COMPANIES.”—– this will probably mean that in the future they could pay you only 10% of your monies “if you are one of the lucky ones” —- and it be legal.

    Peters & Peters – Partners — (1999—2014)— guilty.

    Pictet & Cie — Partners — (1999 — 2014)—guilty.

    The bank and its officials/lawyers deliberately withheld crucial documents requested under a High Court order. The bank and its officials/lawyers deliberately withheld evidence from the police, and one of its account managers Susan Broadhead gave a false witness statement to the police. Another one of its managers Nicholas Campiche (Now Head of Pictet – Alternative Investments) concocted a letter pretending to be a client and closed his account. The senior partner (Ivan Pictet) sought to have numerous documents destroyed, along with those copies held in their London offices of Pictet Asset Management. Initially stating that they were forgeries then their lawyers Peters & Peters – Monty Raphael Q.C. – and the barrister Charles Flint Q.C. later had to admit in Court that the documents were genuine.

    British Parliament. Hansard 29th March 2007. Barry Sheerman M.P.—uote.

    “Constituents of mine have lost £2 million through fraud. The fraudster used Pictet & Cie – – a French Bank – – and Pictet Asset Management to back the fraud being perpetrated.”

    Both Ivan Pictet and Monty Raphael Q.C. conspired to withhold crucial documents requested by the High Court – the FSA — and the Police Fraud Squad.

    Written Parliamentary Questions received by the table office…

    (1) To ask the secretary of state what steps he is taking to ensure that Swiss Banks such as Pictet & Cie do not evade criminal prosecution under EU law even when the illegal act is committed by a London based subsidiary.

    (2) To ask the secretary of state what steps he is taking to protect the rights of UK citizens who seek redress following criminal activities by Swiss banks with subsidiary offices located in London.

    *** We note that there has been a sharp increase in Peters & Peters partners leaving to go to other practices. Moving does not alleviate them of any responsibility from any illegalities that may have occurred at Peters & Peters during their partnership tenure. From 1999 onwards.

    The consensus of opinion is the Pictet & Cie should be prosecuted, and that their U.K. banking license should be taken away.

    Their solicitors at Peters & Peters London “struck off and prosecuted..”

    *** Started campaign — June 6th 2008.

    5. 5 years —- approx 10.5 million emails – – – but still no writs, injunctions or threats of litigation – – – WHY – – – because it is all true.

    *** The bigger they are — the harder they fall.!!!

    In America —- they would have all been in prison for the last seven years.

    Feb 2013 — Pictet & Cie Bank Partners remove their unlimited liability.

    They realise that all their personal wealth is at risk, the people they have conned might want their money back.

    Full Story *** —“Google” ——– Pictet & Cie Bank. or

    Charles Pictet Banker, Ivan Pictet Banker, Jacques de Saussure Banker, Nicolas Pictet Banker, Jean-Francois Demole Banker, Philippe Bertherat Banker, Renaud de Planta Banker, Monty Raphael Q.C.

    Over the last 18 months we posted the following on hundreds of sites.—

    *** Were currently waiting for the West Yorkshire Police;-

    (1) Chief Constable Sir Norman Bettison
    (2) Forces Solicitor Mike Percival
    (3) Head of Economic Crime Unit Det. Chief Inspector Steven Taylor

    to see if they continue to cover up this case like the FSA – “watch this space.”

    We can now state that all the above have been removed from their posts. All three facing criminal allegations.

    These three senior police officers helped and assisted the Pictet & Cie Bank in keeping crucial criminal evidence from the High Court and Court of Appeal.

  2. jack loach says:
    Sods —– Law Nov.—- 2014.

    For almost two decades we have strived to get justice for the injustice we have suffered at the hands of a world renowned bank— PICTET & CIE BANK.

    Two Yorkshiremen both running their own small family businesses trying to resolve the problem by taking all the correct legal procedures to recover their monies.

    The matter was raised in Parliament – twice– the FSA investigated the matter concluding that PICTET had rogues operating in their London Bank — but the rogues had left — saying no one left to prosecute??? —– so there.

    We then approached the Financial Ombudsman Service (FOS) — our case was dealt with by seven different people —- then our numerous emails were ignored — nobody would speak to us ——-so there.

    We then asked the SFO (Serious Fraud Office) to investigate our case —- the criteria of our case ticked all their boxes — we were instructed not to send them any documents/evidence —— in fact they wrote to us advising us to go to the Citizen’s Advice Bureau (CAB) Richard Alderman the SFO boss who responded to our letter was the same man who would not investigate the “Madoff” scandal or the “Libor” fiasco. The MP’s committee said he was sloppy and the SFO was run like “ Fred Karno’s Circus” —– it was an office of fraud. —– so there.

    Our MP approached our local Chief Constable to investigate —– he was called—- Sir Norman Bettison— Chief Constable of West Yorkshire Police —- a force that made “Dad’s Army” look like the SAS. They were inept, corrupt, malicious, from top to bottom. We were criminally dealt with by the Forces Solicitor, the Head of the Economic Crime Unit, and the Chief Constable —– so there.

    We were then advised to pass our complaint against West Yorkshire Police to the I.P.C.C. – which we did — they advised us to make our complaint to the West Yorkshire Police — we did with reluctance all we got was abuse and obfuscation. —– so there.

    Sir Norman Bettison —- The Forces solicitor and the Head of the Economic Crime have all been removed from their posts and facing criminal allegations. —— so there.

    We even sought justice through the Courts culminating in a visit to the Court of Appeal-London. On leaving the Courts of Appeal that day our barrister a “rising star” informed us that if that was British Justice then you can keep it. He quit the law and moved to Canada —– so there.

    A few years later we learned that one of the judges (Lord Justice) in our case at the Court of Appeal was related to a senior executive of the Pictet Bank —–so there.

    The Ministry of Justice passed our case to Lord Myners to investigate — we would rather have had Mickey Mouse or Donald Duck do it. — to this day we don’t know whether he did anything or not —- probably not, seeing that his wife was on the Pictet Prix Board.

    Pictet & Cie Bank voted private bank of the year 2013. Ivan Pictet Voted banker of the year 2012. —- the senior partner lied on numerous occasions and had documents destroyed — also said genuine documents were forgeries. —– so there.

    Ivan Pictet in Oct. 2013 —- Given the Legion of Honour — but saying that honours were given to Hitler, Eichmann, Mussolini, Franco — he’s in fitting company. —-so there.

    MONTY RAPHAEL Q.C. — Peters & Peters London. They were the bank’s lawyers. Monty Raphael Q.C. along with Ivan Pictet withheld crucial documents requested by the High Court, the FSA and the police Fraud Squad. —-so there.

    Monty Raphael Q.C. became an Honorary Queens Counsellor in March, 2012. Monty Raphael Q.C. became a Master of the Bench in Nov. 2012. An expert in Fraud —the Doyen of Fraud Lawyers. —– so there.

    This says a lot about banks, the consensus of opinion is that they are highly paid “crooks” —- no wonder they voted Ivan Pictet banker of the year. It appears that crimes in the “establishment” are honoured by their peers.


    Full Story.—- “Google” Pictet & Cie Bank or Ivan Pictet/ Monty Raphael Q.C.

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