Bahamas

Dawood's blood money trail: CBDT seeks copy of CNN-IBN report

New Delhi: Days after a CNN-IBN and FirstPost.com investigation found that ganglord Dawood Ibrahim's cash was washing up in the offshore banking haven of Nassau in The Bahamas in a Bank of Baroda branch, the Central Board of Direct Taxes (CBDT) has approached the channel seeking details into the report and has sought a copy of the CD. On Saturday, Finance Minister P Chidambaram had assured that officials will look at the CD of the story and take action as required. Bank of Baroda, however, has denied any involvement in the alleged transfer of Dawood's funds.

Meanwhile, R Jagannathan, Editor, FirstPost.com, had said, "Bank of Baroda should be checked. What are they doing in Nassau? Are they serving an Indian community? They should do a full investigation of their clients. As of now, it is only a Know Your Customer (KYC) policy violation that happens regularly in India".

"In response to some of the news items appearing in TV channel regarding the purported transfer of funds through Bank of Baroda, Nassau Branch, Bahamas, it is clarified that Bank of Baroda, Nassau has been maintaining among others, the account of Dubai Exchange for last several years. It is a KYC Compliant account where transactions takes place in normal course of business to established banking channels," said the bank in its statement....more

06:15 PM, Apr 07, 2013

Dawood's blood money trail: Govt assures action

by Praveen Swami,Firstpost and CNN-IBN

New Delhi: A day after a CNN-IBN and FirstPost investigation found that ganglord Dawood Ibrahim's cash was washing up in the offshore banking haven of Nassau in The Bahamas in a Bank of Baroda branch, the government on Saturday assured stern action if any tax laws have been violated. Finance Minister P Chidambaram said officials will look at the CD of the story and take action as required. Earlier on...

05:34 PM, Apr 06, 2013

Bank of Baroda denies involvement in transfer of Dawood's funds

by Praveen Swami,Firstpost and CNN-IBN

New Delhi: The Nassau branch of Bank of Baroda in Bahamas has denied any involvement in the alleged transfer of Dawood Ibrahim's funds. The bank's statement came a day after a CNN-IBN and FirstPost investigation found that Dawood's cash was washing up in the offshore banking haven of Nassau in The Bahamas - a beach paradise also known for its zero-taxes and high-secrecy banking - in a Bank of Baroda...

09:50 AM, Apr 06, 2013

Dawood stashing cash in tax haven to finance jihadists

by Praveen Swami,Firstpost and CNN-IBN

New Delhi: Twenty years ago, his smuggling operations paid for the bombs which killed 257 people in Mumbai. Now, a CNN-IBN and FirstPost investigation has found that ganglord Dawood Ibrahim's cash is washing up in the offshore banking haven of Nassau in The Bahamas - a beach paradise also known for its zero-taxes and high-secrecy banking - in an Indian bank. It is the tip of what one expert has...

09:44 PM, Apr 05, 2013

Bhupathi, Nestor enter second round at Miami

by IANS

Bhupathi and Nestor defeated French pair of Gasquet and Roger-Vasselin 7-6 (3), 6-3. ...

03:22 AM, Mar 23, 2013

Hurricane's death toll rises to 65 in Caribbean

by Associated Press

Pott-Au-Prince (Haiti): As Americans brace for Hurricane Sandy, the Caribbean is still suffering. Officials say storm-related death toll has risen to 65 as of early Sunday. Haitian authorities have reported 51 of those deaths. Continued rains have added to the initial jolt of the hurricane. The country is especially vulnerable due to its ramshackle housing and flood-prone hillsides, as well as the fact 370,000 people are still living in emergency...

08:28 PM, Oct 28, 2012