Wednesday, July 7, 2010

Long arm of the law closing in for Singapore

Ladies and Gentlemen,

The Singapore Democrats, the SDP online magazine of July 7, 2010 has the story
"US Justice Dept targeting offshore accounts in India, S'pore" by Aruna Viswanatha
of Main Justice magazine.

It tells of the US government demanding the names of US tax cheats who keep fraudulent accounts in Singapore, for prosecution for tax evasion.

Lee Kuan Yew may have thought himself smart to turn Singapore into a tax haven and money laundering center for foreign crooks and thieves but as always the case in such cases, they don't turn out so smart in the end. The long arm of the law always closes in sooner or later as in this case.

I can only imagine the days of dirty money for Singapore is at an end. Of course they have other sources of dirty money such as gambling and prostitution, but I doubt if any of this will ultimately save it's collapse.

With the 88 year old Lee Kuan Yew walking around with a pacemaker, not knowing when he will kick the bucket, one thing we are certain is that this entire business of living off prostitution, gambling and money laundering cannot last.

Like a pack of cards it will crumble sooner than later, along with the 88 year old Lee Kuan Yew, with the strong arm of the law closing in fast.

Gopalan Nair
39737 Paseo Padre Parkway, Suite A1
Fremont, CA 94538, USA
Tel: 510 657 6107
Fax: 510 657 6914

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1 comment:

Anonymous said...

IIRC Singapore relaxed its laws to soak up the hot money that would be floating around after Switzerland decided to tighten up its notoriously opaque banking practices after 911. There are lots of dirty spots despite the squeaky clean image that the govt tries to portray to the world.