Hasan Ali Khan

Hasan Ali Khan (born c. 1954) is claimed to be an Indian billionaire businessman. In 2007, authorities began investigating Khan for suspicion of money laundering.He has a Swiss bank account with 8 Billion Dollars in deposits. He allegedly stashed away billions into Swiss bank accounts with the help of the Kolkata based businessman, Kashinath Tapuria via hawala channel. Khan was arrested by India's Directorate General of Economic Enforcement (ED) and the Income Tax Department jointly under suspicion of money laundering, and was in court in July 2011 for that case. ED lawyers said Khan had financed international arms dealer Adnan Khashoggi on several occasions. Khan has claimed that he was framed.

India Today claimed that it had verified a letter confirming the $8 billion in black money was in a Swiss bank UBS account, and the government of India too has verified this with UBS.

The Swiss bank UBS has denied Indian media reports alleging that it maintained a business relationship with or had any assets or accounts for Hasan Ali Khan accused in the US$ 8 billion black money case. Upon formal request by Indian and Swiss government authorities, the bank announced that the documentation supposedly corroborating such allegations were forged, and numerous media reports claiming US$ 8 billion in stashed black money were false. India Today, in a later article, wrote, "Hasan Ali Khan stands accused of massive tax evasion and stashing money in secret bank accounts abroad. But the problem is that the law enforcement agencies have precious little evidence to back their claims. For one, UBS Zurich has already denied having any dealings with Khan." Indian government has asked the Indian mission in Berne to get in touch with banking authorities of Switzerland for obtaining details of businessman Hasan Ali Khan's Swiss bank accounts in connection with the probe into one of the biggest tax evasion scams in the country.