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  • Panama Papers: A huge data leak on the offshore accounts of world leaders

    Posted by btomba_77 on April 3, 2016 at 1:36 pm

    [link]http://www.bbc.com/news/world-35918844[/link]
     

    Eleven million documents were leaked from one of the world’s most secretive companies, Panamanian law firm Mossack Fonseca.
     
    They show how Mossack Fonseca has helped clients launder money, dodge sanctions and evade tax.
     
    The company says it has operated beyond reproach for 40 years and has never been charged with criminal wrong-doing.
     
    The documents show links to 72 current or former heads of state in the data, including dictators accused of looting their own countries.
     
    Gerard Ryle, director of the ICIJ, said the documents covered the day-to-day business at Mossack Fonseca over the past 40 years.
     
    “I think the leak will prove to be probably the biggest blow the offshore world has ever taken because of the extent of the documents,” he said.

     
     
    This could lead to some interesting developments.

    kayla.meyer_144 replied 2 years, 9 months ago 8 Members · 18 Replies
  • 18 Replies
  • julie.young_645

    Member
    April 3, 2016 at 1:38 pm

    Gee..corruption in third-world nations. Who knew?

    • kaldridgewv2211

      Member
      April 3, 2016 at 4:24 pm

      I’m more wondering which names might pop-up that are in wealthy nations (The USA) that are doing dirt through this firm.

      • 100574

        Member
        April 3, 2016 at 9:57 pm

        Iceland’s Prime Minister

        • kayla.meyer_144

          Member
          April 4, 2016 at 2:20 am

          Bigger than either Snowden or Wikileaks!

          • kaldridgewv2211

            Member
            April 4, 2016 at 7:55 am

            I heard Putin brought up on talk radio this morning on the drive in.  That’s be a biggie.  Possibly hiding his real finances from the Russian people.

            • 100574

              Member
              April 5, 2016 at 10:05 am

              Iceland Prime Minister has resigned

            • Unknown Member

              Deleted User
              April 5, 2016 at 11:07 am

              Quote from DICOM_Dan

              I heard Putin brought up on talk radio this morning on the drive in.  That’s be a biggie.  Possibly hiding his real finances from the Russian people.

               
              Hardly. Like US leaders, he wasn’t implicated. At all.
               
              At least, as of now.

              • afazio.uk_887

                Member
                April 5, 2016 at 11:13 am

                Amazing how greedy people can be. 

                • ruszja

                  Member
                  April 5, 2016 at 3:38 pm

                  Corrupt politicians doing corrupt things. I am shocked!

                  • kayla.meyer_144

                    Member
                    April 6, 2016 at 2:41 am

                    Why would you think corruption is limited to politicians? We are going to enjoy some businesses and businessmen being exposed.
                     
                    Perhaps a real concern and scandal is how so much corruption is not illegal and that laws can be created for the benefit of the corrupt, a back-scratching between business and politicians. Many politicians only accept money diverted their way.
                     
                    But in America spreading the money can be nothing but an expression of Free Speech.
                     
                    [link=http://ny.curbed.com/2016/4/5/11371822/panama-papers-nyc-real-estate-dealings]http://ny.curbed.com/2016…c-real-estate-dealings[/link]
                     
                    [link=http://www.telesurtv.net/english/news/Panama-Papers-Fallout-Finally-Reaches-the-Shores-of-the-US-20160405-0044.html]http://www.telesurtv.net/…-US-20160405-0044.html[/link]
                     
                     
                     

                    • kayla.meyer_144

                      Member
                      April 6, 2016 at 10:20 am

                      Why an office in Nevada and Wyoming? To make it easier for politicians?
                       
                      There’s $$$ to be made helping create secret shell companies for all kinds of rich people.
                       
                      considering that Fonseca is a single company AND the leak just from them was 2.5 TB of downloaded documents, there is a lot more information coming and out there. A lot of $$$ to be uncovered.
                       
                      [link=http://www.kagstv.com/news/nation-now/panama-papers-so-why-wyoming/122697979]http://www.kagstv.com/new…-why-wyoming/122697979[/link]

                      Nearly all of the 1,000-plus corporations that USA TODAY has so far identified as being created by Mossack Fonseca in the United States are based in two states: Nevada and Wyoming, two states with permissive corporate secrecy laws like those advertised by the firm in its promotion of Wyoming.

                      In both states, the publicly available information about many corporations is extremely limited and in Wyoming may not necessarily even include reference to the fact that MFs Nevada or Wyoming offices are the registering representative of the companies. Typically those entities listed as behind each company have addresses in Anguilla, Panama or other foreign countries.

                      There is no information that theyre asking for that tells them who owns, controls, (or) works for the company, said Heather Lowe, legal counsel and director of government affairs for Global Financial Integrity, a research group based in Washington. Its like a big black box theyve created.

                      Wyoming records show a Mossack Fonseca-linked business registration operation was formed in the state in 2001, where it has also has served as registered agent. But Patricia Amunategui has testified in a Nevada court case in 2014 that she operates the Wyoming operation from MFs Vegas location, a small office building about 20 miles from the Las Vegas strip. She refers to Wyoming as just another product offering for clients.

                      If someone asks (for) a company in Nevada, she said, l say why not offer them one in Wyoming.

              • kaldridgewv2211

                Member
                April 6, 2016 at 11:24 am

                Quote from Citation

                Quote from DICOM_Dan

                I heard Putin brought up on talk radio this morning on the drive in.  That’s be a biggie.  Possibly hiding his real finances from the Russian people.

                Hardly. Like US leaders, he wasn’t implicated. At all.

                At least, as of now.

                my understanding from what I’ve read in Reuters is that the paper trail ties him to other billionaire Russians that are using Fonseca to skirt the system.  The circle of money.

                • Unknown Member

                  Deleted User
                  April 11, 2016 at 2:11 pm

                  Thomas Picketty’s cogent take:

                  [link=http://www.theguardian.com/commentisfree/2016/apr/09/panama-papers-tax-havens-thomas-piketty?utm_source=esp&utm_medium=Email&utm_campaign=GU+Today+USA+-+Version+CB+header&utm_term=166474&subid=11871879&CMP=ema_565]http://www.theguardian.co…d=11871879&CMP=ema_565[/link]

                  • btomba_77

                    Member
                    October 3, 2021 at 5:39 pm

                    Next episode:
                     
                    [b]The ‘Pandora Papers’ Expose How Global Elite Hide Money[/b][/h1]  
                    Private financial records [link=https://www.washingtonpost.com/world/interactive/2021/putin-monaco-luxury-apartment/business/interactive/2021/pandora-papers-offshore-finance/?utm_source=alert&utm_medium=email&utm_campaign=wp_news_alert_revere&location=alert&wpmk=1&wpisrc=al_news__alert-national–alert-world–alert-politics&pwapi_token=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJjb29raWVuYW1lIjoid3BfY3J0aWQiLCJpc3MiOiJDYXJ0YSIsImNvb2tpZXZhbHVlIjoiNTk2Y2U0M2ZhZGU0ZTI0MTE5ZDhkMjU0IiwidGFnIjoid3BfbmV3c19hbGVydF9yZXZlcmUiLCJ1cmwiOiJodHRwczovL3d3dy53YXNoaW5ndG9ucG9zdC5jb20vYnVzaW5lc3MvaW50ZXJhY3RpdmUvMjAyMS9wYW5kb3JhLXBhcGVycy1vZmZzaG9yZS1maW5hbmNlLz91dG1fc291cmNlPWFsZXJ0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPXdwX25ld3NfYWxlcnRfcmV2ZXJlJmxvY2F0aW9uPWFsZXJ0JndwbWs9MSZ3cGlzcmM9YWxfbmV3c19fYWxlcnQtbmF0aW9uYWwtLWFsZXJ0LXdvcmxkLS1hbGVydC1wb2xpdGljcyJ9.5d2_sOmGgFxg1Cb3w4z3dZY2x0zkhNky3fUML_wJbUw]shared with the Washington Post[/link] expose vast reaches of the offshore system used to hide billions of dollars from tax collectors, creditors, criminal investigators and in cases involving public officials citizens around the world.

                     

  • btomba_77

    Member
    October 4, 2021 at 2:53 am

    [link=https://www.stripes.com/theaters/us/2021-10-03/pandora-papers-private-financial-records-offshore-accounts-king-abdullah-vladimir-putin-3111747.html]https://www.stripes.com/theaters/us/…n-3111747.html[/link]
     
     
    [i]….The United States wealthiest citizens including Amazon founder Jeff Bezos, who owns The Washington Post; Tesla founder Elon Musk; Microsoft billionaire Bill Gates; and billionaire investor Warren Buffett do not appear in the documents.[/i]

    [i]Financial experts said the uber-rich in the United States tend to pay such low tax rates that they have less incentive to seek offshore havens….

    ….[/i][i]Perhaps the most troubling revelations for the United States, however, center on its expanding complicity in the offshore economy. South Dakota, Nevada and other states have adopted financial secrecy laws that rival those of offshore jurisdictions. Records show leaders of foreign governments, their relatives and companies moving their private f[/i]ortunes into U.S.-based trusts.

    • kayla.meyer_144

      Member
      October 4, 2021 at 5:42 am

      Wait! “Low taxes” in America??? For all these past decades listening to the GQP I thought our taxes were making paupers out of our 1%-ers. You know, the “confiscation” of their hard-earned money to feed the lazy moochers.
       
      It’s a long GQP tradition that the majority of Americans are lazy moochers taking government largesse who steal the money from the Randian heros like John Galt and Howard Roark to feed their lessers, the moochers.
       
      Funny how Dagny is never mentioned as a Rand hero. Wonder why. She’s out of her kitchen?

      • kaldridgewv2211

        Member
        October 4, 2021 at 7:27 am

        I didn’t know this was a secret.  Wealthy people scam the system.  Half the accounts are probably in places like New Jersey (the island)