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Just wondering ...

May 13, 2008

What happened to Hasan Ali Khan, who is alleged to have more than Rs 35,000 crore, stashed away in Swiss banks? In early 2007, an investigation by the ED into tax evasion and money laundering, following raids on his premises in Pune, Bangalore and Hyderabad, led the authorities to the startling discovery that the reclusive Khan had close to $8 billion (Rs 35,000 crore then) stashed away in numbered accounts in the tax haven.

If the money were found to belong to Khan, it would immediately catapult him into the ranks of the 10 richest Indians. But ED sleuths suspect that he is a front for politicians, businessmen and, scarily, the underworld.

Not much is known about Khan, except that he was a small-time punter in Pune till he suddenly hit the big time five years ago. Following the raids, he has disappeared without a trace. The Mumbai police have declared him an offender.

Anusha Subramanian

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