The total loss in 2G scam is estimated to be Rs. 176,000 crores: Subramanya Swamy

The total loss in 2G scam is estimated to be Rs. 176,000 crores: Subramanya Swamy

Mangalore Today News Network

News & Pic by Manju Neereshwallya

Mangalore, Feb 26: The Citizen Council organized a talk on the 2G Spectrum scam by Dr. Subramanya Swami.

Revealing valuable information regarding the 2G Spectrum scam, Mr. Swami said that the total loss to the country due to this scam was Rs. 176,000 crores.

Referring to the scam as a “massive fraud perpetrated on the country,” he said that Raja, who used to ride a bicycle in Chennai, received 10 percent of the total bribe amount while Rs. 18,000 crores was pocketed by Karunanidhi and Rs. 30,000 crore was received by Sonia Gandhi.

Speaking about Indian money in Swiss banks, he said that Hasan Ali alone has $8 billion in a Swiss bank and added that bringing back black money from Swiss banks is very easy because it involves just passing ordinances and nationalizing all illegal account holders. He said that, in spite of this, neither the NDA nor the Congress has done anything and added that the government is not even ready to provide names of account holders of a German bank, which has already passed over the information to the Indian Government.

Speaking about the evils of corruption, he said that corruption has an adverse effect on Indian economy. The profits of the luxury industry will go up and the luxury industry remains unaffected by recessions. The black money will go to hoarders of essential commodities and the rates go up. The hoarded money will find its way back to the politicians and the cycle of corruption will continue.

Shrinivas Rao, the president of Shyam Rao Foundation, presided. Bhaskar Devasya, the president of Citizen Council; Convener Suvrath Kumar; General Secretary Raj Kamal Das; and others were the dignitaries on the dias.