Panama Law Firm’s Leaked Files Detail Offshore Accounts Tied to World Leaders

New York Times ^ | 03 March 2016 | Mmichael S. Schmidt, Steven Lee Myers

[Lorianne]

A group of news media outlets published articles on Sunday based on what they said were 11.5 million leaked documents from a Panama law firm that helped some of the world’s wealthiest people — including politicians, athletes and business moguls — establish offshore bank accounts.

The German newspaper Süddeutsche Zeitung said its reporters had obtained the documents from a confidential source. The newspaper then shared the files with other media organizations, like The Guardian and the International Consortium of Investigative Journalists.

In an article, the investigative journalism organization said the documents revealed the offshore accounts of 140 politicians and public officials, including a dozen current and former world leaders and several individuals with close ties to President Vladimir V. Putin of Russia.

It is not illegal in many cases to have offshore bank accounts. But they are used in some instances by wealthy individuals and criminals to hide money and business transactions, and to avoid paying taxes.

The revelations also touched Ukraine’s president, Petro O. Poroshenko, who was elected in the aftermath of the political upheaval in the country in 2014 that led to the annexation of Crimea and open conflict with Russia in eastern Ukraine.

Mr. Poroshenko, a tycoon with assets in television and a chocolatier before his entrance into politics, pledged to divest himself of his holdings but instead moved the assets into an offshore company in the British Virgin Islands, according to the consortium’s reporting. It said that Mr. Poroshenko, who has received political support from the United States, had not disclosed the arrangement.

The documents also contained information about how some foreign leaders used foundations and companies in Panama to anonymously own mining companies and real estate, according to the consortium.

[Texas resident]

I would bet a pile of US dollars that baraq is involved with this as well. Ever since he slithered into office, he has been constantly fundraising. A couple of years ago, members of the dimrat party were complaining that he was not sharing any of his stash with them. I get it that presidents do fundraisers, but this guy takes it to a whole new level.

The day after our Ambassador was murdered in Libya, he was off to another fundraiser.

[free_life]

And the god of mammon owns them all!