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$2 Billion Tax Bite?

UBS claims the documents are forged and that he does not have any accounts or assets with them.

By LIFS March 12, 2011 at 1:12 PM
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India’s Income Tax department is pursuing almost $2 billion in tax penalties from Hasan Ali Khan, the Pune-based race horse breeder, who is accused of money-laundering deals worth billions of dollars.

 
Earlier raids by the IT department found records that indicated he had a balance of $8.04 billion in UBS Zurich at one point. However UBS claims the documents are forged and that he does not have any accounts or assets with them. 
 

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Business | Magazine | March 2011

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