Posted on 04/03/2016 1:20:59 PM PDT by NCjim
A huge leak of confidential documents has revealed how the rich and powerful use tax havens to hide their wealth.
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.
(Excerpt) Read more at bbc.com ...
Bill and Hillary in there?
Iceland’s government I likely to fall on Monday because of this.
And Cameron’s family is involved.
This should be good.
This is a new story, I put it in breaking news, it was removed from there. Did I do something wrong?
I'm a big fan of keeping the government and their minions on the edge of starvation. No one should consider government service a road to wealth.
Looting your country, of course, is a bad thing.
Financial privacy, on the other hand, is a good thing. In many countries it is a matter of personal security to keep your personal finances private.
And, for me, there is no personal freedom without financial privacy. Not in the world as we know it.
Why not?
It's practically the only one left.
Operation Just Cause ping.
The families of at least eight current and former members of China’s supreme ruling body, the politburo, have been found to have hidden wealth offshore.
Any word yet on Chavista Regime money in the Panama Papers?
Interesting. Never heard of this.
Going to be a big picnic invitation to Ft Marcy Park soon.
And, for me, there is no personal freedom without financial privacy. Not in the world as we know it.
Well said!
Most people don't know that the USA is the only 1st world nation that taxes it's citizens on economic activity they undertake outside the USA. FATCA requires foreign banks to report on all American citizens private accounts and the penalties are very high for the banks if they make a mistake. As a result, if you are a honest businessman it has become very difficult to open an account outside the country.
For later after the list comes out.
The list will not have any No American pols on it per the person responsible for it: Soros.
Jesús Villanueva
Director of PdVSA (2005-2008); Auditor of PdVSA
Jesus Villanueva rose quickly within Petroleos de Venezuela (PdVSA), the state oil company, after Hugo Chavez's election as president in 1998. Villanueva served as general auditor, then as a director in 2002, later returning to auditor and then becoming a director again in 2005. A 2006 filing with the U.S. Securities and Exchange Commission noted that since he was Audit Committee vice president and also the Audit Committee Financial Expert, Villanueva was not "independent" as defined by the New York Stock Exchange. He left the board in 2008, when Chavez replaced six directors but continued as auditor. Villanueva exposed in a 2009 PdVSA confidential memo costly problems with a nationwide food supply network created by Chavez and PdVSA; an audit revealed that only 25 percent of the more than $2.2 million in food imports ordered by mid-2008 had reached Venezuela within six months after payment. PdVSA is currently the focus of a large U.S. investigation into graft, money laundering and other corruption.
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