Venezuela is the third country with highest deposits in Swiss HSBC bank

Venezuela is the third country with highest deposits in Swiss HSBC bank

Venezuela's Banco del Tesoro and the Treasury Office top the list of Venezuelan depositors

Venezuela is below Switzerland and England, among other countries, with a capital exceeding USD 14 billion in deposits 

EL UNIVERSAL

Tuesday February 10, 2015  10:08 AM

According to the International Consortium of Investigative Journalists (ICIJ), Venezuela ranks third among the countries with higher deposits in dollars in HSBC bank accounts in Switzerland.

"The government deposited between 2006 and 2007, over USD 12 billion in the HSBC branch in Geneva, Switzerland's business capital," revealed the ICIJ.

Venezuela is below Switzerland itself and England, among other countries, with a capital exceeding USD 14 billion in deposits. Venezuelan public sector accounts represent 85% of total Venezuelan deposits.

The details were provided by whistleblower Hervé Falciani, a former HSBC employee.

Most Venezuelan funds belong to the Banco del Tesoro, represented by Minister of Public Banking, Rodolfo Marco Torres, and Alejandro Andrade, who was National Treasurer from 2007-2010. Andrade was also president of the Economic and Social Development Bank of Venezuela (Bandes) from 2008-2010.

The Venezuelan Treasury Office also holds funds in the HSBC.