Gravitas Plus: Why do the British love fugitive Billionaires?

hello and welcome to gravitas plus i'm palki sharma padhya and i'm here to talk to you about the great britain the greatest and the safest hiding place for financial fraudsters the united kingdom seems to love fugitive billionaires no matter their race or ethnicity no matter their crime or trickery if you've got deep pockets and are looking to escape the law in your country britain is the place for you show some money and they'll welcome you with open arms the government will not only give you asylum it will ensure that the sun never sets on your business empire in the last few years all sorts of con men have found refuge in the so-called great country from african despots to arab shakes from russian oligarchs to criminals from east europe and from absconding pakistani politicians to indian tax fugitives britain has become the playground for all kinds of runaway rich men and women i'm sure most of you know of this man he once flew an airline and then he decided to take his country for a ride this high flying king of good times owed 17 indian banks an estimated 9 000 crore rupees then he decided to run away to london it's been three years and the flamboyant mr malia is still having a good time there he turns up for his court hearings smoking fancy cigars i've said before i'm a political football then we have this man a fugitive indian diamond merchant accused of a 13 000 crore rupee scam the last time he was spotted in london he was wearing a 10 000 pound jacket when confronted he behaved as if he was there to get back the kohinoor for india anyway this is a very long list so i'll give you some numbers since 2013 a total of 5 500 indians have sought political asylum in britain and since 1992 india and britain have had an extradition treaty but you know how many fugitives have been extradited to india under this treaty a grand total of one certain sameer bhai veenu bhai patel this was in 2016 all other extradition requests remain pending till date there's been a lot of blame game a lot of political grand standing but have you ever wondered why india has not been able to get back its fugitive billionaires because of the cleverly devised british laws and no i will not launch into a lecture on law just a few pointers britain's legal system is the biggest hurdle in the extradition process the country is a signatory to the european convention on human rights so if a british court deems that the extradition is due to political reasons or if the person to be extradited is likely to face torture or the death penalty it will turn down the extradition request an additional advantage some could say for indian offenders second money talks these fugitive billionaires may be neck deep in debt but they're still billionaires they come with big money the british do their best to thwart the extraditions so that the looted wealth stays either in british banks or offshore destinations again i have some figures for you according to a deutsche bank report between 2006 and 2015 the united kingdom received 129 billion dollars from fugitive asylum seekers 129 billion dollars of loot money this money is said to have been routed to britain's offshore havens like the british virgin islands cayman gibraltar jersey and guernsey according to corruption watch the uk's wealth management industry manages 800 billion dollars of global wealth at particular risk of laundering 800 billion dollars point number three in action or fca is britain's regulator for the financial sector according to corruption watch this body has brought zero prosecutions over money laundering since the year 2007. so for 13 long years this body has withstood global pressure and provided full protection to investors and fugitive businessmen against any legal scrutiny so whether you're accused of money laundering trip trading or hedging securities the british financial industry and its opaque laws have got your back and the fourth point britain has some of the best legal brains top british lawmakers are fighting for these fugitive billionaires these are people who also understand the indian law well boutique law a top-notch legal firm is looking after vijay malia's case this firm is co-managed by anand dube one of britain's top legal eagles when the former british prime minister theresa may was the country's home secretary she appointed this man to a panel to review the uk's extradition arrangements he once advised the country's home secretary his firm is now fighting vijay malia's case neerav modi is also said to be soliciting the services of the very same firm the point i'm making is simple the brits are very clever people they did not rule half the world just like that they made their tiny island the most lucrative place for financial fraudsters they first grant them asylum then provide them with money laundering opportunities take their share from the looted wealth and finally make the nations plead for extradition in their courts but india is so transactional in its relationship with britain that it does not question the uk's ulterior motives behind delaying extraditions instead india seeks certificates of normal seen kashmir from british parliamentarians the supreme court of india has ordered vijay malia to be present before it on the 5th of october this is a case pertaining to contempt of court the ministry of home affairs has been asked by the judges to facilitate and ensure malia's presence this time let's see

Channel: WION

Views: 977,710

Rating: 4.9009585 out of 5

Keywords: gravitas plus, gravitas, palki sharma, palki sharma upadhyay, gravitas plus latest, britain, fugitive Billionaires, fraudsters, britain: heaven for fraudsters, Why do the British love fugitive Billionaires?, British love fugitive Billionaires, financial fraudsters, Vijay Mallya, Nirav Modi, wion, wion news, world, world news, international, international news, latest english news

Id: mKiT4uIAToQ

Length: 6min 5sec (365 seconds)

Published: Sat Sep 12 2020

Reddit Comments

[u/shaktipeeth]

Three places are above any soverign law and order, these are - 1. Washington D.C - World intelligence capital 2. London - World financial capital 3. Vatican, Rome -. Religious Capital

[u/ABC_25674]

Half of the Russian elites illegally gotten wealth is in London. This is not an indian specific thing unfortunately.

[u/Longjumping_Race9456]

Why is Palki Sharma in a row of fugitives? She definitely stole my heart