india today magazine claimed that it had verified a letter confirming that $8 billion in black money was in a swiss bank ubs account and the government of india too has verified this with ubs. however, the swiss bank ubs 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 $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 $8 billion in stashed black money were false.