Banca del Gottardo: The Sunday Times corrects allegations of Saddam Hussein's account
Un document
Lugano (ots)
Indication: A copy of The Sunday Times' article can be
downloaded as pdf under www.newsaktuell.ch/The British newspaper Sunday Times this week corrected its allegations that Banca del Gottardo had held assets belonging to members of the Saddam Hussein regime during the nineties.
On 13 April 2003 the Sunday Times had reported that, in the past 20 years, millions of dollars had been channelled via Lugano from a large network of offshore companies belonging to Saddam Hussein. In this article it was falsely alleged that payments were made via an account at Gotthard Bank International, Nassau, in the nineties, i.e. after UN sanctions had been imposed against Iraq. In its correction the Sunday Times writes: "We now accept there is no evidence that the account existed after United Nations sanctions were imposed in 1990. (...) we regret if our article gave a contrary impression." (see attachment.)
Banca del Gottardo categorically denied the alleged relations with Saddam Hussein or with members of his regime right from the outset. In-depth enquiries dating back to 1990 had confirmed the non-existence of any such links. The correction in the Sunday Times ends the legal action brought by Banca del Gottardo in London following the publication of the article on 13 April 2003. The Sunday Times must bear the cost of the proceedings.
The report was based on documents that the Public Prosecutor of Ticino found to be false. The co-writers of the article in the Sunday Times include the Italian journalist Paolo Fusi. The publication of the documents caused the Ticino Public Prosecutor to initiate proceedings against persons unknown on the grounds of falsification of documents. These proceedings are still pending.
Banca del Gottardo, with head office in Lugano (Switzerland), relies on a well expanded national and international network. Thanks to its highly qualified teams of experts and its affiliates, subsidiaries, branches and representative offices in Zurich, Geneva, Lausanne, Bellinzona, Chiasso, Locarno, Bergamo, Milan, Turin (next opening), Athens, Luxembourg, Monaco, Vienna, Hong Kong, Nassau (Bahamas), as well as an important participation in Paris, the bank offers top level financial services to its local and international clientele.
Contact:
Franco Rogantini
Media Office
Viale S. Franscini 8
6901 Lugano
Tél. +41/91/808'33'60
Fax +41/91/923'94'33
e-Mail: franco.rogantini@gottardo.com