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Ex Greek FinMin investigated over transferring money abroad & possible tax evasion

The front page of Sunday newspaper Real news sent shock waves across the country and most of all to Greek political world. Citing a document issued by then Anti-Corruption prosecutor, the Real News said that former finance Minister Gkikas Hardouvelis was been investigated for having transferred money abroad in the time around the elections of 2012. The investigation aims at bringing into light whether this money was taxed or not and why it was not declared in his “where from” declarations as he was a public person.

hardouvelis

According to the document dated 20. January 2015  – that is 5 days before the elections – Gkikas Hardouvelis had transferred funds abroad from his personal banking accounts and that the transferred money was not included in the statements that he had been obliged to submit as adviser to PM Lucas Papadimos (November 2011- May 2012) and as finance minister since June 2014.

The document claims that the former finance minister transferred to his account at HSBC Jersey amounts between $7,700 and $9,800 and thus in 56 transactions between 5. June 2010 and 14. June 2012. The total amount transferred was $507,375 (€450,000). Which prompted some circles saying the transferred in amount below 10,000 euro was among to avoid control by the Bank of Greece.

(sources: realnews.gr, greeknewsonline, protothema & others)

Also according to the document there was discrepancy between Hardouvelis’ tax declarations in 2012 and the amount that was transferred.

Το Mega για την αποκάλυψη της Realnews – ΒΙΝΤΕΟ

Gkikas Hardouvelis responded to the Real News that spread like a wild fire and said in a statement that:

“The amount belonged to him and his wife and that they had been taxed. the money in the bank accounts abroad was income earned from working for years in the United States when he was not in public office and he was not required to include the money into the assets certificate every public official has to submit. His bank deposits were included in the income declaration he files with IRS (in the USA).”

The report triggered an exchange of statements between SYRIZA and Nea Dimokratia. The government party spoke of  transferring money abroad by “a man who together with Samaras were urging Greeks for more sacrifices.”

Nea Dimokratia let it up to Hardouvelis to give the necessary explanation and urged SYRIZA “to display the same sensitivity towards three of SYRIZA minister who have money abroad.”

Meanwhile, according to another newspaper, Parapolitika, 38 former prime ministers, party leaders, current and former ministers and lawmakers had money in banks abroad. However, this list is based on what public persons and officials had already declared and was made public.

PS Of course. It is not forbidden to transfer assets abroad and it is not forbidden to park your taxed money in more stable countries. But it is not ethical to put pressure on the citizens of a politically and economically unstable country, while you, as Finance Minister, ride on a safe bus and bring your assets abroad. Of course.

 

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4 comments

  1. Jersey? A little known Greek island just to the east of Crete! Small amounts 56 times. HSBC. A man with absolutely nothing to hide then?

  2. A run on the banks is the the favorite “go to” play for the failed ND + PASOK losers.

    How else could they explain that for two long years+ they have been self-pleasuring themselves on the job?

    ND + PASOK + Berlin are all invested in the failure of this government. Otherwise their lies would be exposed and everyone could see the extent of their hypocrisy.

    This is precisely why Greece has no options left at this point as to an alternative government. Syriza may be amateurish and learning on the job but the other “guys” are thoroughly unacceptable. They had their chance and they blew it. So now, suck it up and watch how those they called the riff raff would rule over them.

  3. I second that! With bells on!

  4. QUESTION:
    How did monies earned in the United States end up in Greece in the first place ?
    AND
    The tax on the salery earned was paid in the United States first.
    I am not sure if tax has to be also paid in the country to which the salery earned is transfering to.
    This means you are paying tax on income earned twice…once in the US & then again in Greece.
    SO
    Why would you transfer the money to Greece ?
    Leave it in the US & internet bank.
    Then this man transfered the money out of Greece.
    CURIOUS behavior — was he planing to leave Greece ?
    If not why would you transfer money to another country ?
    So that you can pay tax on it a third time ?

    THERE IS SOMETHING VERY WRONG WITH THIS STORY.