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Offshore havens and hidden riches of world leaders and billionaires exposed in unprecedented leak
icij.org ^ | October 3, 2021 | International Consortium of Investigative Journalists

Posted on 10/03/2021 3:49:13 PM PDT by ransomnote

The Pandora Papers reveal the inner workings of a shadow economy that benefits the wealthy and well-connected at the expense of everyone else.

Millions of leaked documents and the biggest journalism partnership in history have uncovered financial secrets of 35 current and former world leaders, more than 330 politicians and public officials in 91 countries and territories, and a global lineup of fugitives, con artists and murderers.

The secret documents expose offshore dealings of the King of Jordan, the presidents of Ukraine, Kenya and Ecuador, the prime minister of the Czech Republic and former British Prime Minister Tony Blair. The files also detail  financial activities of Russian President Vladimir Putin’s “unofficial minister of propaganda” and more than 130 billionaires from Russia, the United States, Turkey and other nations.

The leaked records reveal that many of the power players who could help  bring an end to the offshore system instead benefit from it – stashing assets in covert companies and trusts while their governments do little to slow a global stream of illicit money that enriches criminals and impoverishes nations.

Among the hidden treasures revealed in the documents:

The secret records are known as the Pandora Papers.

The International Consortium of Investigative Journalists obtained the trove of more than 11.9 million confidential files and led a team of more than 600 journalists from 150 news outlets that spent two years sifting through them, tracking down hard-to-find sources and digging into court records and other public documents from dozens of countries.

The leaked records come from 14 offshore services firms from around the world that set up shell companies and other offshore nooks for clients often seeking to keep their financial activities in the shadows. The records include information about the dealings of nearly three times as many current and former country leaders as any previous leak of documents from offshore havens.

In an era of widening authoritarianism and inequality, the Pandora Papers investigation provides an unequaled perspective on how money and power operate in the 21st century – and how the rule of law has been bent and broken around the world by a system of financial secrecy enabled by the U.S. and other wealthy nations.

The findings by ICIJ and its media partners spotlight how deeply secretive finance has infiltrated global politics – and offer insights into why governments and global organizations have made little headway in ending offshore financial abuses.

An ICIJ analysis of the secret documents identified 956 companies in offshore havens tied to 336 high-level politicians and public officials, including country leaders, cabinet ministers, ambassadors and others. More than two-thirds of those companies were set up in the British Virgin Islands, a jurisdiction long known as a key cog in the offshore system.

At least $11.3 trillion is held “offshore,” according to a 2020 study by the Paris-based Organization for Economic Cooperation and Development. Because of the complexity and secrecy of the offshore system, it’s not possible to know how much of that wealth is tied to tax evasion and other crimes and how much of it involves funds that come from legitimate sources and have been reported to proper authorities.

SNIP

The document shows that the firm – also known as Alcogal – set up at least 312 companies in the British Virgin Islands for clients of the American financial services giant Morgan Stanley.

A Morgan Stanley spokesperson said: “We do not create offshore companies. . . .  This process is independent of the firm and at the discretion and direction of the client.”

The Pandora Papers investigation also highlights how Baker McKenzie, the largest law firm in the U.S., helped create the modern offshore system and continues to be a mainstay of this shadow economy.

Baker McKenzie and its global affiliates have used their lobbying and legislation-drafting know-how to shape financial laws around the world. They have also profited from work done for people tied to fraud and corruption, reporting by ICIJ has found.

MUCH MORE AT LINK (MANY RELATED ARTICLES RELEASED TODAY)


TOPICS: Miscellaneous
KEYWORDS: bidens; clintons; crooksoftheworld; pelosis; qanonispedos

1 posted on 10/03/2021 3:49:13 PM PDT by ransomnote
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To: ransomnote

Wonder if Oprah is there as well? She might be fairly small fry compared to some of the others.


2 posted on 10/03/2021 3:51:24 PM PDT by OttawaFreeper ("The Gardens was founded by men-sportsmen-who fought for their country" Conn Smythe, 1966 )
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To: ransomnote

Exposed Putin as having an affair

Well, color me shocked at that revelation. I never would have suspected.


3 posted on 10/03/2021 3:51:46 PM PDT by AppyPappy (How many fingers am I holding up, Winston? )
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To: OttawaFreeper
Wonder if Oprah is there as well? She might be fairly small fry compared to some of the others.

~~~~~~~~~~~

They have separate caches of released offshore accounts and it seems it's just the tip of the iceberg. Oprah's gotta be in there somewhere - but it's so crowded.... 

The Panama Papers: Exposing the Rogue Offshore Finance Industry - ICIJ 

A giant leak of more than 11.5 million financial and legal records exposes a system that enables crime, corruption and wrongdoing, hidden by secretive offshore companies.

Paradise Papers: Secrets of the Global Elite - ICIJ

A major global collaboration reveals secrets from one of the world’s most prestigious offshore law firms, a specialized trust company and 19 company registries in secrecy jurisdictions.

4 posted on 10/03/2021 3:58:19 PM PDT by ransomnote (IN GOD WE TRUST)
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To: All

i wonder if is it just a coincidence that this stuff is coming out just in time for the trump income tax trial


5 posted on 10/03/2021 4:17:13 PM PDT by SteveH
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To: OttawaFreeper

Everything mentioned above is small potatoes for people at this level.


6 posted on 10/03/2021 4:25:33 PM PDT by SaxxonWoods (Leave Us Alone.)
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To: ransomnote

7 posted on 10/03/2021 4:26:59 PM PDT by Repeal The 17th (Get out of the matrix and get a real life.)
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To: ransomnote

Oligarchs note: There are always going to be leaks, both cyber attacks and inside jobs. So, keep your info private... never write anything down, never use computers. Now... how the hell are you going to “make” your money? Not so convenient now, is it?


8 posted on 10/03/2021 4:33:55 PM PDT by Richard Axtell (As if.)
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To: ransomnote
Rut Roh. This data release may be coming to us courtesy funding from people like George Soros (Little Jeremiah's post below) and others I don't trust. WHich may mean he's punishing certain people or setting it up to frame President Trump (giving up some corrupt lefties to 'validate' false claims against President Trump or those who support him)

In the General/Chat forum, on a thread titled Q ~ Trust Trump's Plan ~ 10/01/21 Vol.373, Q Day 1435little jeremiah wrote:

Interesting factoid (no source at the moment) about the ICIJ who apparently put together the Pandora Papers. The ICIJ is funded by George Soros’ Open Society foundation, would be interesting to delve into these other donors. So...seems any info needs to be double checked. Soros trying to get rid of rivals?

https://www.icij.org/about/our-supporters/

Our Supporters
The International Consortium of Investigative Journalists is a nonprofit organization. We give our work away for free.

But cross-border investigative journalism is among the most expensive and riskiest in the world. We rely heavily on charitable foundations and on financial support from the public. Without your help, we cannot exist.

We welcome individual donations in support of our work. You can make a gift online here. Any help, no matter how small, is most welcome.

We are incredibly grateful to our supporters who make this work possible. The following list (current as of June 2021) includes institutional and major individual donors who provided support in 2019-2021:

Adessium Foundation
Arnold Ventures
Bay and Paul Foundations
Barbara Streisand
Bertha Foundation
Ford Foundation
Franklin Philanthropic Foundation
Fritt Ord Foundation
Fund for Nonprofit News at The Miami Foundation (NewsMatch)
Green Park Foundation
Hollywood Foreign Press Association
Hurd Foundation
John and Florence Newman Foundation
Jonathan Logan Family Foundation
Luminate
KCIJ Newstapa
Meryl Streep
Nationale Postcode Loterij
Norad
Open Society Foundations
Swedish Postcode Foundation
Tinius Trust
Wellspring Philanthropic Fund
We are also grateful to have received in-kind support from Australian philanthropist and businessman Graeme Wood.


9 posted on 10/03/2021 4:41:14 PM PDT by ransomnote (IN GOD WE TRUST)
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To: ransomnote

How much is Trueshit worth?


10 posted on 10/03/2021 4:44:52 PM PDT by Jonty30 (My superpower is setting people up for failure, without meaning to. )
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To: ransomnote

They might as well enjoy it now because once they are dead, I am sure precious few of them will be enjoying much of anything.

Meanwhile, us nobody, deplorable, contemptible Christians will be all set in ways they could never have dreamed of.

The story of the rich man and Lazarus comes to mind.


11 posted on 10/03/2021 5:01:49 PM PDT by metmom (...fixing our eyes on Jesus, the Author and Perfecter of our faith)
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To: metmom

I’ve watched a wealthy Christian mentor give privately in a way that would surprise most. He is 83, started from scratch, still works, still gives, and has been an amazing role model.

His net worth places him in the top .01% of the world.

He fully credits the blessing of God on what he has.


12 posted on 10/03/2021 5:09:57 PM PDT by aMorePerfectUnion (Fraud vitiates everything ᡕᠵ᠊ᡃ࡚ࠢ࠘ ⸝່ࠡࠣ᠊߯᠆ࠣ࠘ᡁࠣ࠘᠊᠊ࠢ࠘𐡏⁻ )
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To: ransomnote

If the Bummers name is not on there, it’s not true.


13 posted on 10/03/2021 5:13:47 PM PDT by deweyfrank (Nobody's Perfect )
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To: aMorePerfectUnion

Some people can handle the financial blessings.

Most cannot.

God bless him.


14 posted on 10/03/2021 5:21:12 PM PDT by metmom (...fixing our eyes on Jesus, the Author and Perfecter of our faith)
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To: ransomnote

Target acquired. Lock and load.


15 posted on 10/03/2021 7:23:20 PM PDT by Yollopoliuhqui
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To: ransomnote

Dibs

40 acres and a Tesla.

https://www.zerohedge.com/political/man-asks-california-reparations-task-force-40-acres-tesla

I claim mine in Tokyo


16 posted on 10/03/2021 7:28:28 PM PDT by combat_boots (Hi God bless Israel and all who protect and defend her. Merry Christmas! In God We Trust! )
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To: SaxxonWoods

“Everything mentioned above is small potatoes for people at this level.”

indeed ... chump change amounts for multi-billionaires ... plus one would expect multi-billionaires to own multi-million dollar houses and have bank accounts all over the world ...


17 posted on 10/03/2021 8:27:02 PM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: Whenifhow; null and void; aragorn; EnigmaticAnomaly; kalee; Kale; AZ .44 MAG; Baynative; bgill; ...

bums!


18 posted on 10/03/2021 8:59:59 PM PDT by bitt (<img src=' 'width=50%>)
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To: ransomnote

And not one big wig will suffer from this illegal crap.


19 posted on 10/04/2021 3:53:56 AM PDT by Joe Boucher (Dementia Joe and the Whore, leaders of the Free world. ( F-you dementia Joe.))
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To: AppyPappy

Bet they didn’t expose ‘the big guy’ Biden and his drug addicted whore-mongering worthless sell-out son...

This is interesting for the people left off...

Odd Putin was mentioned at all... someone worked on inserting his name without really condemning him for anything...

I’d like to see the list of Jeffery Epstein’s clients - well, beyond Bill Gates, the Clintons, half the democrat DC ‘elites’ and ‘journalists’ other than George Stephanopoulos...


20 posted on 10/04/2021 8:59:37 AM PDT by GOPJ (A million illegals A DAY starting summer 2022... Communism - vote your way in - shoot your way out.)
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