Hasan Ali Khan

Hasan Ali Khan (born c. 1954) is an Indian businessman. In 2007, Indian authorities began investigating Khan for suspicion of money laundering. He had a Swiss bank account with $8 billion in deposits. He allegedly stashed away billions into Swiss bank accounts with the help of Kolkata based businessman, Kashinath Tapuriah and Delhi based Praveen Kumar using hawala. In January 2011, the then Finance Minister of India, Pranab Mukherjee announced that both Swiss bank accounts of Hasan Ali Khan were emptied. In December 2012, Finance Ministry told the Standing Committee on Finance that recovery of Hasan Ali's tax arrears (of approximately Rs 910 billion) is not possible. As of October 2013, Hasan Ali is in jail since his bail petitions have been rejected several times by various courts including the Bombay High Court and the Supreme Court of India. Hasan Ali has denied all the allegations and said he had no Swiss bank accounts and some of his rivals could be behind the charges.