‘A Conspiracy Of Silence’ – HSBC, The Guardian And The Defrauded British Public

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Offline the leveller

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05 March 2015




‘A Conspiracy Of Silence’ – HSBC, The Guardian And The Defrauded British Public
The corporate media have swiftly moved on from Peter Oborne's resignation as chief political commentator at the Telegraph and his revelations that the paper had committed 'a form of fraud' on its readers over its coverage of HSBC tax evasion.
 But investigative journalist Nafeez Ahmed has delved deeper into the HSBC scandal, reporting the testimony of a whistleblower that reveals a 'conspiracy of silence' encompassing the media, regulators and law-enforcement agencies. Not least, Ahmed's work exposes the vanity of the Guardian's boast to be the world's 'leading liberal voice'.
 Last month, the corporate media, with one notable exception, devoted extensive coverage to the news that the Swiss banking arm of HSBC had been engaged in massive fraudulent tax evasion. The exception was the Telegraph which, as Oborne revealed, was desperate to retain advertising income from HSBC.
 But now Ahmed reports another 'far worse case of HSBC fraud totalling an estimated £1 billion, closer to home'. Moreover, it has gone virtually unnoticed by the corporate media, for all the usual reasons.
 According to whistleblower Nicholas Wilson, HSBC was 'involved in a fraudulent scheme to illegally overcharge British shoppers in arrears for debt on store cards at leading British high-street retailers' including B&Q, Dixons, Currys, PC World and John Lewis. Up to 600,000 Britons were defrauded.
 Wilson uncovered the crimes while he was head of debt recovery for Weightmans, a firm of solicitors acting on behalf of John Lewis. But when he blew the whistle, his employer sacked him. He has spent 12 years trying to expose this HSBC fraud and to help obtain justice for the victims. The battle has 'ruined his life', he said during a brief appearance on the BBC's The Big Questions, the only 'mainstream' coverage to date.

 Ahmed writes that the 'most disturbing' aspect of 'HSBC's fraud against British consumers' is that it 'has been systematically ignored by the entire British press'.
 He adds:

'In some cases, purportedly brave investigative journalism outfits have spent months investigating the story, preparing multiple drafts, before inexplicably spiking publication without reason.'

Examples include BBC Panorama, BBC Newsnight, BBC Moneybox, BBC Radio 5 Live, the Guardian, Private Eye and the Sunday Times.
 The Sunday Times is the most recent example. A couple of weeks ago, the paper had a big exposé on the HSBC consumer credit fraud ready to go. But it was 'inexplicably dropped' at the last minute. Ahmed writes:

'HSBC happens to be the main sponsor of a series of Sunday Times league tables published for FastTrack 100 Ltd., a "networking events company." The bank is the "title sponsor" of The Sunday Times HSBC Top Track 100, has been "title sponsor of The Sunday Times HSBC International Track 200 for all 6 years" and was previously "title sponsor of The Sunday Times Top Track 250 for 7 years."'

Ahmed reports that the Sunday Times journalist preparing the spiked story did not respond to a query asking for an explanation.
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‘A Conspiracy Of Silence’ – HSBC, The Guardian And The Defrauded British Public
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