2015, the French government indicted
David de Rothschild on account of fraud and
alleged embezzlement of mass sums of money belonging to British
French investigators went through a long and arduous task of gathering
evidence against the billionaire. Investigators discovered that
between 2005 and 2008, Rothschild Financial Services Group, managed by
the billionaire, trapped pensioners in a fraudulent scheme and locking
them into bogus loans, losing them their retirement portfolios.
The billionaire then diverted all these monies into his bank, leaving
the pensioners with minimal savings. Victims of this fraud took the
matter up, prompting an intense investigation by the French
June 2015, Paris-based liaison judge Javier Gómez Bermudez, ruled that
Rothschild and his bank must face a trial for his crimes. Judge
Bermudez ordered local police to search for the missing
millionaire in his various mansions spread throughout
France, with a warrant to arrest him.
the ruling, the pensioners’ legal representation, lawyer Antonio
Flores of Lawbird said to Olive
is a good step in the right direction. The courts are now in
agreement with us that there is enough evidence to interrogate Baron
Rothschild. The first thing they will have to do is find him. Once
they have done that they can begin to question him. It is a real
breakthrough moment for everyone involved. In short, independently
of what happened to the investment, Rothschild advertised a loan
aimed at reducing inheritance tax, which is a breach of tax law.”
the indictment of David de Rothschild is taking a new trend. The
French government announced that it
has launched an investigation into the entire
Swiss branch of the Rothschild’s banking empire. The Swiss branch of
the Rothschild banking empire was founded by Edmond
Adolphe de Rothschild.
have started their work on Edmond de Rothschild. Originally
established in Paris as a private banking and asset management firm,
Edmond de Rothschild currently oversees around 150 billion Euros ($164
billion). In 1965, it acquired Banque Privee of Geneva, and
is currently led by Baron Benjamin de Rothschild and his wife
News reports that the Rothschild bank
in Switzerland confirmed that French investigators are at the back of
the bank regarding a former business relationship managed by a former
employee. The media is reluctant to report on the issue, but from what
we gathered, the allegations brought against the bank are serious.
Observers predict that Benjamin could face a similar fate to that of
David. However, the Geneva-based bank said in an e-mailed statement to Bloomberg “Edmond
de Rothschild (Suisse) SA is actively participating in the criminal
investigation under way. The bank denies all the allegations that
have been made against it.”
to social commentators, this is not the first time the banking dynasty
of Rothschild has been accused of wrong doing. The Rothschild family
have been accused of pulling economic and political strings of vast
governments for years, with ample evidence of insider trading. Going
as far back as the Napoleonic wars, the family was reported to
have succeeded in turning into one of the richest clans in the
world through the manipulation of the stock exchange.
Rothschild family has also been accused of playing a lead role in
helping move the global elite’s wealth from traditional tax havens
like the Bahamas, Switzerland and the British Virgin Islands, to the
United States of America.
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