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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

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