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January 1, Tycoon could owe $137 million in back taxes
Switzerland’s highest court ruled that Indian-Swiss tycoon, Prakash Hinduja, could owe more than 125 million francs (roughly $137 million) in back taxes.
An investigation began three years ago over alleged human trafficking and usury involving workers at Hinduja’s villa.
Tax authorities were made aware that Hinduja still lived in Geneva, despite claiming to live in Monaco since 2007. The tycoon also misrepresented the amount of his wealth, thereby lowering his tax liability in Switzerland.
The case is open pending a criminal investigation.
Source:
Indian-Swiss Tycoon Could Owe $137 Million in Back Taxes
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