Elite Caught...moving wealth offshore Banks - $21 trillion - Panama Papers

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Offline lee51

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Looks like someone hacked and has exposed that the wealthy are dishonest - guess we already knew this but proof now.

http://www.theguardian.com/business/2012/jul/21/global-elite-tax-offshore-economy


A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network.

James Henry, former chief economist at consultancy McKinsey and an expert on tax havens, has compiled the most detailed estimates yet of the size of the offshore economy in a new report, The Price of Offshore Revisited, released exclusively to the Observer.

He shows that at least £13tn – perhaps up to £20tn – has leaked out of scores of countries into secretive jurisdictions such as Switzerland and the Cayman Islands with the help of private banks, which vie to attract the assets of so-called high net-worth individuals. Their wealth is, as Henry puts it, "protected by a highly paid, industrious bevy of professional enablers in the private banking, legal, accounting and investment industries taking advantage of the increasingly borderless, frictionless global economy". According to Henry's research, the top 10 private banks, which include UBS and Credit Suisse in Switzerland, as well as the US investment bank Goldman Sachs, managed more than £4tn in 2010, a sharp rise from £1.5tn five years earlier.

The detailed analysis in the report, compiled using data from a range of sources, including the Bank of International Settlements and the International Monetary Fund, suggests that for many developing countries the cumulative value of the capital that has flowed out of their economies since the 1970s would be more than enough to pay off their debts to the rest of the world.

Oil-rich states with an internationally mobile elite have been especially prone to watching their wealth disappear into offshore bank accounts instead of being invested at home, the research suggests. Once the returns on investing the hidden assets is included, almost £500bn has left Russia since the early 1990s when its economy was opened up. Saudi Arabia has seen £197bn flood out since the mid-1970s, and Nigeria £196bn.


Much more at the link above...

Also see:

http://www.zerohedge.com/news/2016-04-03/unprecedented-leak-exposes-criminal-financial-dealings-some-worlds-wealthiest-people

Offline lee51

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Re: Elite Caught...moving wealth offshore Banks
« Reply #1 on: April 03, 2016, 10:20:23 PM »

Offline Brocke

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Panama Papers: Elite Caught moving wealth to offshore Banks
« Reply #2 on: April 04, 2016, 07:43:59 AM »
    Panama Papers: Mossack Fonseca leak reveals elite's tax havens

    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.

    Panama Papers reaction - latest

    French President Francois Hollande hailed the "good revelations" which would "increase tax revenues from those who commit fraud".

    The documents show 12 current or former heads of state and at least 60 people linked to current or former world leaders in the data. They include the Icelandic Prime Minister, Sigmundur Gunnlaugson, who had an undeclared interest linked to his wife's wealth and is now facing calls for his resignation.

    The files also reveal a suspected billion-dollar money laundering ring involving close associates of Russian President Vladimir Putin.

    Gerard Ryle, director of the International Consortium of Investigative Journalists (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.
    Panama Papers - tax havens of the rich and powerful exposed

       
    • Eleven million documents held by the Panama-based law firm Mossack Fonseca have been passed to German newspaper Sueddeutsche Zeitung, which then shared them with the International Consortium of Investigative Journalists. BBC Panorama and UK newspaper the Guardian are among 107 media organisations in 78 countries which have been analysing the documents. The BBC does not know the identity of the source
    • They show how the company has helped clients launder money, dodge sanctions and evade tax
    • Mossack Fonseca says it has operated beyond reproach for 40 years and never been accused or charged with criminal wrong-doing
    • Tricks of the trade: How assets are hidden and taxes evaded
    • Panama Papers: Full coverage; follow reaction on Twitter using #PanamaPapers; in the BBC News app, follow the tag "Panama Papers"
    • Watch Panorama at 19:30 on BBC One on Monday, 4 April, or catch up later on the BBC iPlayer (UK viewers only)

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


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    Offline Brocke

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #3 on: April 04, 2016, 07:52:16 AM »
    Mossack Fonseca: The Nazi, CIA And Nevada Connections... And Why It's Now Rothschild's Turn

    Submitted by Tyler Durden on 04/03/2016 23:38 -0400
    http://www.zerohedge.com/news/2016-04-03/mossack-fonseca-nazi-cia-and-nevada-connections-and-why-its-now-rothschilds-turn


    Central Banks Corruption Las Vegas Mexico None SPY Swiss Banks Switzerland Testimony World Bank Zurich

    For all the media excitement about the disclosed names in the "Panama Papers" leak, in this case represented by the extensive list of Mossack Fonseca clients, this is not a story about which super wealthy individuals did everything in their power, both legal and illegal, to avoid taxes, preserve their financial anonymity, and generally preserve their wealth. After all, that's what they do, and it should not come as a surprise that they will always do that, especially following last year's disclosure by the same ICIJ which revealed a list of 100,000 HSBC clients who had been dutifully avoiding the payment of taxes.

    What the story is about is the nebulous world of offshore tax evasion and tax havens, which based on data from the World Bank, IMF, UN, and central banks, hide between $21 and $32 trillion, where registered incorporation agents and law firms in small Caribbean countries (and not so small US states) make the laundering of money and the "disappearance" of the super wealthy, into untracable numbers hidden behind shell companies, possible.

    So, in order to learn some more about the real star of this story, the Panamanian lawfirm of Mossack Fonseca, we went to Fusion which has compiled a fascinating story of the company's history, founders, and key milestone events in its life.

    These include the Nazis, the CIA, Mexican drug lords, and of course, the U.S...

    More - http://www.zerohedge.com/news/2016-04-03/mossack-fonseca-nazi-cia-and-nevada-connections-and-why-its-now-rothschilds-turn


    That men do not learn very much from the lessons of history is the most important of all the lessons of history.
    ~Aldous Huxley

    He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

    Offline chris jones

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #4 on: April 04, 2016, 09:59:34 AM »
    Cutesy, 21 trillion, thats the debt USA..
    No matter it was made clear long ago; Tom Jeferson.........

    Quotation: "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

    Offline lee51

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #5 on: April 04, 2016, 11:52:50 AM »
    Jim Stone said this on his website:

    A slightly more than initial sniff test on this one smells like Soros has targeted second and third tier players in the world economic and power structure, to purge that structure of people who have stood in the way of the New world order.

    http://82.221.129.208/ifyouareinamericayouprobablycantseethisr9.html

    I don't agree with everything Jim Stone says but what he said above made sense because none of the elite I've heard of are mentioned so far in these "panama papers." 

    Read Revelation 13. The "kings" or those with big money will unite with the Catholic church--what they want is a one world power and the Pope will be over all. This Pope wants to urge Sunday worship for everyone. Problem is the Ten Commandments say something different in the 4th commandment...and Sunday as a day of worship is not mentioned in the Bible at all.

    Offline jofortruth

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #6 on: April 04, 2016, 02:48:39 PM »
    Jim Stone said this on his website:

    A slightly more than initial sniff test on this one smells like Soros has targeted second and third tier players in the world economic and power structure, to purge that structure of people who have stood in the way of the New world order.

    http://82.221.129.208/ifyouareinamericayouprobablycantseethisr9.html

    I don't agree with everything Jim Stone says but what he said above made sense because none of the elite I've heard of are mentioned so far in these "panama papers." 

    Read Revelation 13. The "kings" or those with big money will unite with the Catholic church--what they want is a one world power and the Pope will be over all. This Pope wants to urge Sunday worship for everyone. Problem is the Ten Commandments say something different in the 4th commandment...and Sunday as a day of worship is not mentioned in the Bible at all.

    Alex said similar today in first hour of show! I also believe this is another attack on wealthy people the REAL SCUMBAGS - CENTRAL BANKERS - don't control! I bet some of these people are fighting the globalists and they don't like that!

    There is more than meets the eye in this story! Imo, the criminal  globalists are behind this like everything else happening!
    Don't believe me. Look it up yourself!

    Offline John_Back_From_The_Club_O

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #7 on: April 04, 2016, 10:07:51 PM »
    Now we're getting somewhere....
    ----------------------------
    Panama Papers: Obama, Clinton Pushed Trade Deal Amid Warnings It Would Make Money Laundering, Tax Evasion Worse

    Even while Obama championed his commitment to raise taxes on the wealthy, he pursued and eventually signed the Panama agreement in 2011. Upon Congress ratifying the pact, Clinton issued a statement lauding the agreement, saying it and other deals with Colombia and South Korea "will make it easier for American companies to sell their products." She added: "The Obama administration is constantly working to deepen our economic engagement throughout the world, and these agreements are an example of that commitment."

    Critics, however, said the pact would make it easier for rich Americans and corporations to set up offshore corporations and bank accounts and avoid paying many taxes altogether.

    “A tax haven ... has one of three characteristics: It has no income tax or a very low-rate income tax; it has bank secrecy laws; and it has a history of noncooperation with other countries on exchanging information about tax matters,” Rebecca Wilkins, a senior counsel with Citizens for Tax Justice, a nonpartisan nonprofit that advocates changes in U.S. tax policy, told the Huffington Post in 2011. “Panama has all three of those. ... They’re probably the worst.”

    CONTINUED...
    The Crowd Shouted... “Give us Barabbas!” ... and People, The NWO Gave Him To You.
    http://www.dominicanajournal.org/give-us-barabbas/

    https://www.greatagain.gov

    Offline windyacres

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #8 on: April 05, 2016, 03:31:57 AM »
    From The Guardian:

    Twelve national leaders are among 143 politicians, their families and close associates from around the world known to have been using offshore tax havens.

    A $2bn trail leads all the way to Vladimir Putin.

    http://www.theguardian.com/news/2016/apr/03/the-panama-papers-how-the-worlds-rich-and-famous-hide-their-money-offshore

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    Offline windyacres

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #9 on: April 05, 2016, 03:34:18 AM »
    The Power Players - Click on the Countries

    https://projects.icij.org/panama-papers/power-players/index.html

    (The link was experiencing heavy overload as of 24 hours ago
    but it should be back up and working)

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    Offline windyacres

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #10 on: April 05, 2016, 03:36:38 AM »
    More than 800 super wealthy Australian clients of Panama law firm investigated by the tax office - Daily Mail

    The Australian Taxation Office is investigating more than 800 Australians after a massive leak of financial data revealed how 12 current or former world leaders, a host of celebrities and the global rich are using offshore tax havens to hide their wealth.


    http://www.dailymail.co.uk/news/article-3522072/Leak-Panama-papers-law-firm-Mossack-Fonseca-leads-Australian-Tax-Office-investigation-800-wealthy-Australians.html

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    Offline windyacres

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    Offline windyacres

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #12 on: April 05, 2016, 03:42:01 AM »
    World figures deny wrongdoing as 'Panama Papers' turn spotlight on tax evasion 


    LONDON/PANAMA CITY | By Kylie MacLellan and Elida Moreno


    Governments across the world began investigating possible financial wrongdoing by the rich and powerful on Monday following a leak of documents from a Panamanian law firm which allegedly showed how clients avoided tax or laundered money.

    The documents detailed schemes involving an array of figures from friends of Russian President Vladimir Putin to relatives of the prime ministers of Britain, Iceland and Pakistan and as well as the president of Ukraine, journalists who received them said.

    While the "Panama Papers" detail complex financial arrangements benefiting the world's elite, they do not necessarily mean the schemes were all illegal.

    The Kremlin said the documents contained "nothing concrete and nothing new" while a spokesman for British Prime Minister David Cameron said his late father's reported links to an offshore company were a "private matter".

    Iceland's Prime Minister Sigmundur Gunnlaugsson could not immediately be reached for comment on the naming of his wife in connection with a secretive company in an offshore haven which brought opposition calls for him to resign.

    Pakistan denied any wrongdoing by the family of Prime Minister Nawaz Sharif after his daughter and son were linked to offshore companies. Ukrainian President Petro Poroshenko has not commented on his reported offshore links.

    Opponents said Poroshenko should be impeached for allegedly transferring his confectionary business to an offshore company in 2014, amid fierce fighting between Ukraine and pro-Russian separatists. A senior official from the General Prosecutor's office said there was no evidence he had committed a crime.

    Australia, New Zealand, India, France and Austria were among countries which said they had begun investigating the allegations, based on more than 11.5 million documents from law firm Mossack Fonseca, located in the tax haven of Panama. Banks as well as individual clients came under the spotlight.

    The documents were leaked to the International Consortium of Investigative Journalists (ICIJ) and more than 100 other news organizations. Mossack Fonseca has denied any wrongdoing.

    "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," ICJC director Gerard Ryle said.


    ARMS AND DRUGS?

    The material covers a period over almost 40 years, from 1977 until last December, and allegedly show that some companies domiciled in tax havens were being used for suspected money laundering, arms and drug deals, and tax evasion.

    Britain's Guardian newspaper said the documents showed a network of secret offshore deals and loans worth $2 billion led to close friends of Putin, including concert cellist Sergie Rolddugin. Reuters could not confirm those details.

    Putin's spokesman dismissed the reports, saying they aimed to discredit him ahead of upcoming elections.

    "This Putinophobia abroad has reached such a point that it is in fact taboo to say something good about Russia, or about any actions by Russia or any Russian achievements. But it's a must to say bad things, a lot of bad things, and when there's nothing to say, it must be concocted. This is evident to us."


    Related Coverage
    › UK's Cameron under fire over Panama Papers link as government vows to probe data
    › Brazil politicians linked to offshore companies in Panama leaks: paper
    › Ukrainian MPs call for investigation into Poroshenko after Panama leaks

    The publications contained "nothing concrete and nothing new" about Putin, Kremlin spokesman Dmitry Peskov said.

    The British government asked for a copy of the leaked data, which could be embarrassing for Prime Minister Cameron, who has spoken out against tax evasion and tax avoidance.

    His late father, Ian Cameron, is mentioned in the files, alongside some members of his Conservative Party in the upper house of parliament, former Conservative lawmakers and party donors, British media said.

    Jennie Granger, director general of enforcement and compliance at HM Revenue and Customs, said the government had a great deal of information from a wide range of sources.

    "We will closely examine this data and will act on it swiftly and appropriately," she said.

    Cameron's spokeswoman declined to comment on whether the leader's family had money invested in offshore funds set up by his father, saying it was a "private matter".

    Tax authorities in Australia and New Zealand said they were probing local clients of Mossack Fonseca.

    The Australian Tax Office said it was investigating more than 800 wealthy clients and had linked more than 120 of them to an associate offshore service provider located in Hong Kong, which it did not name.


    DATABASE "HACK"

    The head of Mossack Fonseca, Ramon Fonseca, has denied any wrongdoing but said his firm had suffered a successful but "limited" hack on its database. He described the hack and leak as "an international campaign against privacy".

    Fonseca, who was up until March a senior government official in Panama, told Reuters that the firm, which specializes in setting up offshore companies, has formed more than 240,000 such companies, the "vast majority" used for "legitimate purposes".

    The papers also showed the use of off-shore companies by Pakistani Prime Minister Nawaz Sharif's family, including his daughter Mariam and son Hussain. Pakistani Information Minister Pervez Rasheed denied any wrongdoing on their part.

    "Every man has the right to do what he wants with his assets, to throw them in the sea, to sell them, or to establish a trust for them. There is no crime in this in Pakistani law or in international law," Rasheed said.

    Media reports also said the leaked data pointed to a link between a member of global soccer body FIFA's ethics committee and a Uruguayan soccer official who was arrested last year as part of a U.S. probe into corruption in the sport.

    FIFA's ethics committee said Juan Pedro Damiani, a member of the committee's judgment chamber, was being investigated over a possible business relationship with fellow Uruguayan Eugenio Figueredo, one of the soccer officials arrested in Zurich last year.

    Damiani told Reuters in Montevideo he broke off relations with Figueredo when the latter was accused of corruption.


    Related Coverage
    › Austrian watchdog investigates two banks after Panama Papers leak
    › Iceland opposition calls for snap election over PM offshore scandal
    › Cyprus based RCB says does not provide unsecured loans


    EUROPEAN BANKS PROBED

    Austria's financial markets regulator FMA is investigating whether lenders Raiffeisen Bank International (RBIV.VI) and Hypo Landesbank Vorarlberg followed rules against money laundering after they were named in the "Panama Papers".

    Raiffeisen said it had complied but could not comment on specific cases. Hypo Landesbank Vorarlberg had no immediate comment.

    The Norwegian government said Norwegian bank DNB DNB.OL must explain its policy of helping clients set up offshore companies in the Seychelles.

    "DNB says this should not have happened and that the bank should not have participated," Trade and Industry Minister Monica Maeland said.

    DNB said it regretted assisting about 40 customers in setting up the firms between 2006 and 2010, and that the practice had ended.

    Dutch authorities said they would investigate allegations related to the Netherlands.

    Sweden's Financial Supervisory Authority (FSA) has contacted authorities in Luxembourg to ask for information related to allegations that banking group Nordea (NDA.ST) helped some clients to set up accounts in offshore tax havens

    Nordea was fined the maximum 50 million crowns ($6.14 million) in May 2015 for deficiencies in its approach to tackling money laundering. Nordea denounced tax evasion and said it did not help set up offshore companies except in exceptional circumstances. It said it had taken measures in 2009 to ensure clients' holdings and incomes were reported to tax authorities.

    In Ukraine, lawmakers said parliament should investigate allegations that President Petro Poroshenko moved his confectionery business, Roshen, to the British Virgin Islands in August 2014.

    "It is the height of cynicism to open offshore companies at a time when hundreds of our soldiers are dying," leader of the populist Radical Party, Oleh Lyashko, said on Facebook, adding any investigation could lead to Poroshenko's impeachment.

    Panama, part of the Central American isthmus, is among the world's most secretive off-shore financial centers, a group that includes territories such as the Cayman Islands, Bermuda and the British Virgin Islands.

    It has declined to sign up to global transparency rules which international organizations have been pushing in a bid to fight tax evasion, money-laundering and other criminality.


    (Reporting by Reuters bureaux, Writing by Angus MacSwan,; Editing by Philippa Fletcher)


    http://www.reuters.com/article/us-panama-tax-idUSKCN0X10C2

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    Offline windyacres

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #13 on: April 05, 2016, 03:44:25 AM »
    Here are the famous politicos in ‘the Wikileaks of the mega-rich’

    by Fusion Investigative Unit
    April 03, 2016


    It’s being called the “Panama Papers” — a trove of 11.5 million leaked internal documents from the Panamanian law firm Mossack Fonseca, showing how hundreds of thousands of people with money to hide used anonymous shell corporations across the world. Fusion’s investigative unit was one of the more than 100 media organizations that dove into the files — and found drug dealers, arms traders, human traffickers, fraudsters. We also found no shortage of politicians or their family members.
    Related
    bb398f6f-d789-456e-8580-d8b50c97815a Dirty little secrets: Inside the 'Wikileaks of the ultra-rich and ultra-powerful'

    Here is a listing of current and former world leaders connected to the files. Check out Dirty Little Secrets, Fusion’s full investigation into the leak and the underworld it exposes.

    For additional information on these names and more, read “The Power Players,” an interactive presentation by the International Consortium of Investigative Journalists (ICIJ), from which much of this information is gleaned.

    MAURICIO MACRI
    President of Argentina
    Macri — who as president has vowed to fight corruption — is listed, with his Italian tycoon father Francisco and brother Mariano, as a director of Fleg Trading Ltd., incorporated in the Bahamas in 1998 and dissolved in January 2009 — a financial connection Macri didn’t disclose on asset declarations when he was mayor of Buenos Aires. His spokesman said didn’t list Fleg Trading Ltd. as an asset because he had no capital participation in the company. The company, used to participate in interests in Brazil, was related to the family business group. “This is why Maricio Macri was occasionally its director,” he said, reiterating that Macri was not a shareholder.

    AYAD ALLAWI
    Former Iraqi PM

    A wealthy Iraqi exile who helped lead the push for war with Saddam Hussein, Allawi returned to Iraq to serve as prime minister in 2004. He also served as vice president s recently as last year. From 1985 to 2013, Mossack Fonseca helped run his Panama-registered company I.M.F. Holdings Inc. I.M.F. owned a house in Kingston upon Thames, England worth roughly $1.5 million, and another offshore company of his, Moonlight Estates Ltd., held a property in London. Representatives for Allawi confirmed that he “is the sole director and shareholder of Foxwood Estates Limited, Moonlight Estates Limited and IMF Holdings Inc.,” adding that he ran many of his house purchases through anonymous offshores “in light of an assassination attempt on him.” Indeed, he survived an attempt on his life in 1978, presumably by Saddam Hussein.

    SIGMUNDUR DAVID GUNNLAUGSSON
    PM of Iceland

    A radio personality who led the Progressive Party to victory after the financial crisis of 2008, Gunnlaugsson and his wealthy wife owned a British Virgin Islands shell company called Wintris Inc., that held nearly $4 million in bonds in Iceland’s three major banks. He failed to declare his ownership of Wintris on entering the Parliament in 2009. In March, a TV interviewer asked Gunnlaugsson if he had ever owned an offshore company. “Myself? No,” he said, adding: “Well, the Icelandic companies I have worked with had connections with offshore companies.” A spokesman told the ICIJ that Gunnlaugsson and his family had followed all Icelandic laws.

    KING SALMAN BIN ABDULAZIZ BIN ABDULRAHMAN AL SAUD
    King of Saudi Arabia

    Through a series of British Virgin Islands shell companies, the Saudi king appears to have taken out several luxury mortgages for houses in London — at least $34 million worth — and held “a luxury yacht the length of a football field.” The king did not answer the ICIJ’s requests for comment.

    PETRO POROSHENKO
    President of Ukraine

    Known as Ukraine’s billionaire “chocoloate king,” Poroshenko swept into office in 2014 vowing reforms that have not yet come. He became the sole shareholder of Prime Asset Partners Limited in 2014, as Russian troops invaded Eastern Ukraine. The following year, Poroshenko vowed to sell most of his assets; news reports said they ultimately ended up in “Prime Asset Capital.” His spokesman told the ICIJ said that “creation of the trust and related corporate structures had no relation to political and military events in Ukraine,” adding that his assets held by an independently managed fund — Prime Asset Capital.

    RAMI AND HAFEZ MAKHLOUF
    Cousins of Syrian dictator Bashar al-Assad

    “For years, any foreign company seeking to do business in Syria had to be cleared by Rami, who controlled key economic sectors such as oil and telecommunications. Hafez, a general in charge of Syria’s intelligence and security apparatus, has been suspected of helping his older brother intimidate business rivals.” The cousins have been subjected to international financial sanctions and appear to have used multiple offshore accounts to siphon wealth from Syrian industry and avoid freezes on their assets. In early 2011, emails show employees at Mossack Fonseca discussing U.S. sanctions and allegations of bribery and corruption made against members of the Makhlouf family. By that June, Mossack had cut its ties with the Makhloufs.

    KOJO ANNAN
    Son of ex-U.N. Secretary General Kofi Annan

    Then only son of former U.N. head Kofi Annan courted controversy in 1998, when a firm of his won a big contract under the U.N.’s Oil-for-Food humanitarian program in Iraq. An inquiry eventually cleared father and son of any corruption in the deal. Internal Mossack Fonseca documents show Koji Annan has held several offshore shell companies, using one to purchase a half-million-dollar apartment in central London. A spokesman for Annan said his business was for “normal, legal purposes of managing family and business matters and has been fully disclosed in accordance with applicable laws.”

    FAMILY OF NAWAZ SHARIF
    PM of Pakistan

    For years, Sharif, a longtime presence in Pakistani politics, has had to answer questions about his family’s “riches from a network of businesses that include steel, sugar and paper mills and extensive international property holdings,” ICIJ says. Mossacks’ documents show a series of offshore companies operated by Sharif’s children, Mariam, Hussein and Hasan, including one to hold “a UK property each for use by the family” and others that moved million in assets. Mossack Fonseca resigned from a company Hasan directed in 2007, calling him “a politically exposed person.” The Sharif family did not respond to the ICIJ’s requests for comment.

    ARKADY AND BORIS ROTENBERG
    Lifelong friends of Russian President Vladimir Putin

    The billionaire brothers grew up with Putin and have benefited richly from his turns as Russia’s president and prime minister. The U.S. has sanctioned their wealth over alleged corruption, particularly allegations they profited over contracts from the 2014 Sochi Olympics. They ran at least seven British Virgin Islands shell companies “involved in everything from investing in a major pipeline construction company… to buying equipment for the construction of an Italian villa in Tuscany for Arkady’s son.”

    SERGEY ROLDUGIN
    Close persona friend of Putin

    Widely known as one of the world’s better cellists, Roldugin has been close to Putin since the 1970s, when the future president worked in the Soviet KGB. Documents show Roldugin owned three shell companies, two of which were funded by a Russian organ that the U.S. government calls “Russia’s ‘personal bank for senior officials.'” Through those companies, Roldugin appears to hold significant shares of Kamaz, Russia’s largest truckmaker, and a major state media corporation.

    IAN CAMERON
    Father of David Cameron

    The father of Great Britain’s current Conservative Prime Minister died in 2010, having amassed a fortune in smart investments. According to the documents, “Cameron helped create and develop Blairmore Holdings Inc. in Panama in 1982 and was involved in the investment fund until his 2010 death.” Blairmore was valued at $20 million in 1998 and was promoted to investors in brochures as “not liable to taxation on its income or capital gains.” The promotional literature added that Cameron’s fund “will not be subject to United Kingdom corporation tax or income tax on its profits.” 


    http://fusion.net/story/287227/famous-presidents-shell-companies-trove/
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    Offline windyacres

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #14 on: April 05, 2016, 03:47:24 AM »
    A LEAK HAS $PRUNG

    One April morning in 2014, Jurgen Mossack, the tall, German-born co-founder of the prominent Panama City law firm Mossack Fonseca, shot off an agitated email with the subject line “Serious Matter URGENT” to three top members of his staff. There was trouble brewing in the British Virgin Islands, a “secrecy jurisdiction” whose white-sand beaches and blue Caribbean waters conceal a barely-regulated haven for people who wish to create shell corporations. Many of those people employ Mossack Fonseca to perform precisely this service.

    “Swindled investors call the office constantly. We need to resign from this company immediately,” Mossack wrote. “At any moment, the police arrive, and we end up in the newspapers.”

    As a “registered agent,” Mossack Fonseca provides the paperwork, signatures, and mailing addresses that breathe life into shell companies established in tax havens around the world -- holding companies that often create nothing and sell nothing, but shelter assets with maximum concealment and a minimum of fuss.

    Jurgen wanted to pull the plug on representing one such firm that was raising red flags. For weeks, investors in an entity called Swiss Group Corporation had been contacting Mossack Fonseca, wondering why their annuity payments had suddenly stopped, why they had received only vague emails, whether they had been a victim of a fraud.

    “SWISS GROUP CORP has shown no transparency in their processes,” one woman wrote from Colombia on March 31, 2014, “and now, I am worried about the investment I made 5 years ago, which is my only means of living.”

    Mossack instructed his underlings to “Please do what you have to do,” – and then, he added: “Use the telephone!”

    Weeks after Jurgen issued his stern orders, queries continued to pour in from investors -- including one woman who identified herself as a U.S. citizen, and others from Colombia and Bolivia. They were still groping in the dark, searching for shreds of information in the same black hole of offshore finance that routinely stumps tax authorities, law enforcement officials, and asset-tracers across the globe. By one estimate -- based on data from the World Bank, IMF, UN, and central banks of 139 countries -- between $21 and $32 trillion is hiding in tax havens, more than the United States’ national debt. That study didn’t even attempt to count money from fraud, drug trafficking and other criminal transactions whose perpetrators gravitate toward the same secret hideouts.

    Mossack and his business partner Ramon Fonseca, a powerful political leader and best-selling author in Panama, are captains in an offshore industry that has had a major impact on the world’s finances since the 1970s. As their business has grown to encompass more than 500 employees and collaborators, they’ve expanded into jurisdictions around the world – including parts of the United States.

    Offshore finance is an opaque world, generally hidden to all but those who profit from it.

    But a new trove of secret information is shining unprecedented light on this dark corner of the global economy. Fusion analyzed an archive containing 11.5 million internal documents from Mossack Fonseca’s files, including corporate records, financial filings, emails, and more, extending from the firm's inception in 1977 to December 2015. The documents were obtained by the German newspaper Süddeutsche Zeitung and shared with Fusion and over 100 other media outlets by the International Consortium of Investigative Journalists (ICIJ) as part of the Panama Papers investigation. The massive leak is estimated to be 100 times bigger than Wikileaks. It's believed to be the largest global investigation in history.


    the players


    In recent years, government investigations have centered on how major banks are used to move, hide, and launder money by the wealthy. But the new Panama Papers trove shows the role of often-overlooked lawyers and incorporation agents in the process. The results of the yearlong investigation encompass 214,488 corporate entities – among them companies, trusts, and foundations –controlled by everyone from heads of state, politicians, Forbes-listed billionaires, to drug lords, businesses blacklisted by the US government, scammers, and FIFA officials. There’s a common thread between members of Vladimir Putin’s inner circle, the man who laundered money from a record-setting robbery in the U.K., and a drug trafficker convicted of killing a U.S. DEA agent: They have all used companies created by Mossack Fonseca.

    “If there is a vehicle that is allowing for the criminal to get away now, that vehicle is the shadow financial system and the ability to go to anonymous companies to launder your money,” says Porter McConnell, director of the Financial Transparency Coalition, speaking broadly about the role of shell companies in funnelling illicit financial flows from what she calls “the three C’s”: corporate tax avoidance and evasion, government corruption, and criminal activity.

    In response to questions from ICIJ and its media partners about its incorporation activities, Mossack Fonseca said that “our company does not foster or promote unlawful acts.” Mossack Fonseca declined to comment to the ICIJ on specific cases, citing obligations to maintain client confidentiality, and did not answer questions about Swiss Group Corporation.

    “We regret any misuse of companies that we incorporate or the services we provide and take steps wherever possible to uncover and stop such use,” the firm said. “Your allegations that we provide shareholders with structures supposedly designed to hide the identity of the real owners, are completely unsupported and false,” the firm said, adding that there are a number of legitimate purposes served by establishing entities in different jurisdictions, including for estate planning reasons, conducting cross-border mergers and acquisitions, and pooling investment capital from investors residing in different locations and who seek “a neutral legal and tax regime.”


    the leak


    In the case of Swiss Group Corporation, within weeks of receiving emails from worried investors, records indicate that the firm did submit a suspicious activity report about the company to regulatory authorities in the British Virgin Islands that April. By mid-May, a senior employee was putting worried investors in touch with a lawyer who represented the owner of Swiss Group Corporation. “We have taken note of your comments and uncertainty, however, we only offered the service of Registered Agent to Swiss Group Corporation,” a senior compliance staffer wrote to at least 10 investors who’d contacted the firm.

    But at the same time, in order to avoid potential regulatory fines, Mossack Fonseca scrambled to compile due diligence documents it did not have on file about Swiss Group, the emails show. On April 10, 2014, that same senior compliance staffer wrote to the Panama City law firm that helped the owner of Swiss Group Corporation register the company, and one other one, with Mossack Fonseca. “[N]ot maintaining such records to date will result in high administrative and legal fines,” she wrote, “so we have to work together in updating the files for these companies.”

    In the scramble, firm employees realized that Swiss Group had been subject to previous inquiries from authorities. Mossack Fonseca resigned from serving as registered agent for the company.

    Later that same year, in September 2014, the Central Bank of Uruguay canceled the license and ordered the liquidation of an investment firm called OpenWorld Sociedad de Bolsa, citing securities violations in its offering of “Swiss Group” investment products. Multiple sources told FUSION that OpenWorld is facing a criminal investigation in Uruguay; a Uruguayan court approved an arrest warrant for the investment firm’s former majority shareholder, Pedro Orlando Magenties, last year, but he had already left the country, according to Nicolas Pereyra, an attorney for investors who say OpenWorld defrauded them. Court records show Magenties denied the allegations against him.

    Numerous attempts by FUSION to contact Swiss Group Corporation’s representatives were not successful.

    Pereyra says that losses in Uruguay alone amount to $4 million, and that many investors were middle-class. Attorneys for investors say they have identified multiple shell corporations associated with OpenWorld and Swiss Group, and Pereyra says those shells played an important role in the alleged fraud. “They have an appearance. You trusted Swiss Group. You saw a brand, you saw a logo,” he explains. “They tried to create a trust in investors that did not exist. It did not exist because it was a false corporation. It was nothing. Empty.”


    http://interactive.fusion.net/dirty-little-secrets/index.html

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    Offline windyacres

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #15 on: April 05, 2016, 03:52:27 AM »
       Prosecutors open probes as world's wealthy deny 'Panama Papers' links 


    Mon Apr 4, 2016


    Governments across the world began investigating possible financial wrongdoing by the rich and powerful on Monday after a leak of four decades of documents from a Panamanian law firm that specialized in setting up offshore companies.

    The "Panama Papers" revealed financial arrangements of politicians and public figures including friends of Russian President Vladimir Putin, relatives of the prime ministers of Britain, Iceland and Pakistan, and the president of Ukraine.

    While holding money in offshore companies is not illegal, journalists who received the leaked documents said they could provide evidence of wealth hidden for tax evasion, money laundering, sanctions busting, drug deals or other crimes.

    The law firm, Mossack Fonseca, which says it has set up more than 240,000 offshore companies for clients around the globe, denied any wrongdoing and called itself the victim of a campaign against privacy. Mossack Fonseca, in a statement posted on its website on Monday, said media reports had "misrepresented the nature of our work."

    "We routinely resign from client engagements when ongoing due diligence and updates to sanctions lists reveal that a beneficial owner of a company for which we provide services is compromised," it said.

    The law firm added that "excluding the professional fees we earn, we do not take possession or custody of clients' money, or have anything to do with any of the direct financial aspects" of their business operations.

    Leading figures responded to the leaks with denials as prosecutors and regulators began a review of the reports from the investigation by the U.S.-based International Consortium of Investigative Journalists (ICIJ).

    The U.S. Department of Justice would determine whether there was evidence of corruption and other violations of U.S. law, a spokesman said. A White House spokesman said that "in spite of the lack of transparency that exists in many of these transactions," there were U.S. experts who could find out whether they violated sanctions and laws.

    Financial prosecutors in France announced the opening of a preliminary investigation for aggravated tax fraud.

    Germany would also “pick up the ball” in the case, a Finance Ministry spokesman said on Monday. Financial market watchdog Bafin is looking into the matter, said a source close to the regulator, which reports to the ministry.

    Australia, Austria, Sweden and the Netherlands were among other countries that said they had begun investigating the allegations based on more than 11.5 million documents. Banks came under the spotlight over allegations they helped clients hide their wealth offshore.

    In Argentina, political opposition parties demanded an explanation from center-right President Mauricio Macri because he served as a director of an offshore company in the Bahamas related to his wealthy father's business in the past.

    In a short television interview, Macri denied any wrongdoing and said the company his father founded was legal.


    Related Coverage
    › UK's Cameron under fire over Panama Papers link as government vows to probe data
    › U.S. Justice Dept reviewing Panama law firm reports
    › Tax evasion claims against Ukraine's Poroshenko are 'groundless': lawyer
    › Pressure mounts on Iceland government over PM scandal
    › Argentina's Macri denies wrongdoing at 'Panama Papers' offshore firm

    "It was an offshore company to invest in Brazil, an investment that ultimately wasn't completed, and where I was director," Macri said. "There is nothing strange about this."

    In Brazil, where a corruption crisis threatens President Dilma Rousseff's administration, the O Estado de S.Paulo newspaper said politicians from seven parties were named as Mossack Fonseca clients. They did not include politicians from Rousseff's Workers' Party.

    Brazil's tax agency said it would verify information about offshore tax avoidance in the documents and could impose fines on undeclared assets in offshore accounts of up to 150 percent of their value.


    FORTY YEARS

    The documents, covering a period from 1977 until last December, were leaked to more than 100 news organizations around the world in cooperation with the ICIJ.

    "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," ICIJ Director Gerard Ryle said.



    Related Video


    Video

    Tax probes after Panama Papers leak


    Video

    Amid Panama leaks, White House says U.S. values transparency

    The Kremlin said the documents contained "nothing concrete and nothing new," while a spokesman for British Prime Minister David Cameron said his late father's reported links to an offshore company were a "private matter."

    Pakistan denied any wrongdoing by the family of Prime Minister Nawaz Sharif after his daughter and son were linked to offshore companies.

    Ukrainian President Petro Poroshenko defended his commitment to transparency after lawmakers called for an investigation into allegations in the documents that he had used an offshore firm to avoid tax. Poroshenko purportedly moved his confectionery business, Roshen, to the British Virgin Islands in August 2014 as fighting between Ukraine and pro-Russian separatists peaked.

    "I believe I might be the first top official in Ukraine who treats declaring of assets, paying taxes, conflict of interest issues seriously," Poroshenko tweeted.

    Iceland's prime minister, Sigmundur Gunnlaugsson, faced calls for his resignation after ICIJ said he and his wife were connected with a secretive company in an offshore haven. His political opposition filed a no-confidence motion.

    "I certainly won't (resign) because what we've seen is the fact that, well, my wife has always paid her taxes. We've also seen that she has avoided any conflict of interest by investing in Icelandic companies at the same time that I'm in politics," he told Reuters TV.

    Britain's Guardian newspaper said the documents showed a network of secret offshore deals and loans worth $2 billion led to associates of Putin, including concert cellist Sergei Roldugin, a childhood friend of the president. Reuters could not confirm those details.


    Related Coverage
    › Panama lawyer at center of data leak denounces attack on privacy
    › Family deny alleged Messi involvement in tax scheme
    › Brazil tax agency plans to verify 'Panama Papers,' may impose fines
    › Germany plans new law against offshore companies: Sueddeutsche Zeitung
    › France opens probe after Panama leaks

    Putin's spokesman dismissed the reports as "Putinophobia".

    The British government asked for a copy of the leaked data, which could be embarrassing for Cameron, who has spoken out against tax evasion and tax avoidance.

    His late father, Ian Cameron, a wealthy stockbroker, is mentioned in the files, alongside some members of his Conservative Party, former Conservative lawmakers and party donors, British media said.

    Jennie Granger, head of enforcement and compliance at HM Revenue and Customs, said the government would examine the information "and act on it swiftly and appropriately."

    Cameron's spokeswoman declined to comment on whether the leader's family had money invested in offshore funds set up by his father, saying it was a "private matter".

    The Australian Tax Office said it was investigating more than 800 wealthy Mossack Fonseca clients and had linked more than 120 of them to an associate offshore service provider located in Hong Kong, which it did not name.

    "We regret any misuse of companies that we incorporate or the services we provide and take steps to uncover or stop such use," the law firm's statement said.

    Media reports said the leaked data pointed to a link between a member of global soccer body FIFA's ethics committee and a Uruguayan soccer official arrested last year as part of a U.S. probe into corruption in the sport. Mossack Fonseca said it had "no connection or involvement with these matters in any way."

    The British-based Tax Justice Network said too many offshore lawyers, accountants and bankers saw it as their role to shield their clients from financial regulations. Director John Christensen said in a statement that the law firm operated with "extreme secrecy and discretion" for their clients, "which was attractive to many clients engaged in tax evasion, fraud, hiding conflicts of interest, and other white collar crimes."

    The Paris-based Organisation for Economic Cooperation and Development, which has pushed for more transparency on taxes, said Panama "must put its house in order." OECD said it had warned G20 finance ministers before the leaks that Panama was backtracking on a commitment to share information on accounts with other governments.

    "The consequences of Panama's failure to meet the international tax transparency standards are now out there in full public view," OECD Secretary General Angel Gurria said in a statement.


    (Reporting by Reuters bureaux, Additional reporting by Andreas Kroener in Frankfurt and Matthias Sobolewski in Berlin; Writing by Angus MacSwan and Grant McCool; Editing by Meredith Mazzilli and Peter Cooney)


    http://www.reuters.com/article/us-panama-tax-idUSKCN0X10C2

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    Offline windyacres

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #16 on: April 05, 2016, 03:54:25 AM »
    'Panama Papers' revelations trigger global probes 


    By David Williams

    Panama City (AFP) - Several countries launched tax evasion probes Monday after a massive leak of confidential documents lifted the lid on the murky offshore financial dealings of a slew of politicians and celebrities.

    The scandal erupted on Sunday when media groups began revealing the results of a year-long investigation into a trove of 11.5 million documents from the Panamanian law firm Mossack Fonseca, which specialises in creating offshore shell companies.

    Among those named in the "Panama Papers" are close associates of Russian President Vladimir Putin, relatives of Chinese leader Xi Jinping and Iceland's Prime Minister Sigmundur David Gunnlaugsson, as well as Barcelona striker Lionel Messi.

    "We have opened an investigation for money laundering in relation to the law firm," a judicial source at Spain's National Court told AFP after the release of the documents, which named Oscar-winning Spanish film director Pedro Almodovar among others with offshore holdings.

    Messi's family immediately came to his defence, saying he was innocent of all wrongdoing and "accusations he created a... tax evasion plot, including a network of money-laundering, are false and insulting".

    Messi has been charged with tax fraud in a separate case that is due to go to trial in May.

    Australia said it had launched a probe into 800 wealthy Mossack Fonseca clients. Prosecutors in France and tax authorities in the Netherlands also announced investigations, while the United States said it was reviewing the files.

    In Iceland's capital Reykjavik, thousands took to the streets late Monday to demand the prime minister's resignation over allegations that he and his wife used an offshore firm to hide millions of dollars of investments.

    - Kremlin denials -

    The trove of documents was anonymously leaked to German daily Sueddeutsche Zeitung and shared with more than 100 media groups by the International Consortium of Investigative Journalists (ICIJ). More information is expected over the coming weeks.

    The first revelations elicited a chorus of denials, including from the Kremlin, which suggested a US plot after the leaks put a close friend of Putin's at the top of an offshore empire worth more than $2 billion that has made his circle fabulously wealthy.

    "Putin, Russia, our country, our stability and the upcoming elections are the main target, specifically to destabilise the situation," said Kremlin spokesman Dmitry Peskov, claiming the journalists were "former officials from the (US) Department of State, the CIA and other special services."

    Offshore financial dealings are not illegal in themselves but may be used to hide assets from tax authorities, launder the proceeds of criminal activities or conceal misappropriated or politically inconvenient wealth.

    Among other key findings of the probe, which named about 140 political figures, including 12 current or former heads of state:

    -- The families of some of China's top brass -- including President Xi Jinping -- used offshore tax havens to conceal their fortunes, including at least eight current or former members of the Politburo Standing Committee, the ruling Communist Party's most powerful body.

    -- Iceland's Prime Minister Sigmundur David Gunnlaugsson secretly owned millions of dollars in bank bonds at a time when his country's banking system was collapsing in 2008. He has so far steadfastly refused to step down.

    -- A member of FIFA's ethics committee, Juan Pedro Damiani, had business ties with three men indicted in a corruption scandal.

    -- A Panamanian shell company may have helped hide millions of dollars from a $40 million British gold bullion robbery at London-Heathrow Airport in November 1983 that is etched in criminal folklore, according to the ICIJ.

    - 'An attack on Panama' -

    The papers, from around 214,000 offshore entities covering almost 40 years, also name the president of Ukraine and the king of Saudi Arabia, as well as sporting and movie stars including Jackie Chan.

    Ukrainian President Petro Poroshenko denied any wrongdoing, but he may face an attempt to impeach him.

    French newspaper Le Monde cited documents showing that Syria used Mossack Fonseca to create shell companies to help it break international sanctions and fund its war effort.

    Pascal Saint-Amans, head of tax policy at the OECD, said the leaks showed that Panama is now almost unrivalled as a world tax haven.

    "Among the countries that refuse to automatically exchange information, there are Bahrain, Nauru, Vanuatu and Lebanon," he told AFP. "Switzerland is really making progress, so there is a concentration of problems in Panama."

    One of the Panama law firm's founders, Ramon Fonseca, told AFP the leaks were "a crime, a felony" and "an attack on Panama".

    Panama's government said it had "zero tolerance" for shady deals, and vowed to "vigorously cooperate" with any legal investigations.

    More than 500 banks, their subsidiaries and branches have worked with Mossack Fonseca since the 1970s to help clients manage offshore companies. UBS set up more than 1,100 and HSBC and its affiliates created more than 2,300.

    The documents show "banks, law firms and other offshore players often fail to follow legal requirements to make sure clients are not involved in criminal enterprises, tax dodging or political corruption," the ICIJ said.

    Mossack Fonseca is already subject to investigations in Germany and Brazil, where it is part of a huge money laundering probe that has threatened to topple the current government.


    https://www.yahoo.com/news/putin-aides-among-world-leaders-exposed-tax-haven-195848285.html

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    Offline windyacres

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #17 on: April 05, 2016, 03:58:39 AM »
    2.6 terabytes of data was dumped  and Part 2 has yet to come,
    be sifted through etc. which everyone is figuring Part 2 will
    be the American names, companies, etc. when it comes out.

    Lee51, I posted each article individually vs. lump them all on
    one post reply for easy reading and archiving purposes.  Windy Acres
    Be Prepared

    Offline Geolibertarian

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #18 on: April 05, 2016, 08:35:18 AM »
    "The poor don't pay taxes!"

    Ever hear that reactionary meme before?

    Who authored and promoted that meme in the first place?

    And whose interests do you think they were serving in doing so? The interests of the "global elite," perhaps?
    "Abolish all taxation save that upon land values." -- Henry George

    "If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

    http://schalkenbach.org
    http://www.monetary.org
    http://forum.prisonplanet.com/index.php?topic=203330.0

    Offline jofortruth

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #19 on: April 05, 2016, 09:36:38 AM »
    Corporate Media Gatekeepers Protect Western 1% From Panama Leak 540
    https://www.craigmurray.org.uk/archives/201...om-panama-leak/
    http://www.infowars.com/are-corporate-gate...-panama-papers/


    Quote
    Unfortunately the leaker has made the dreadful mistake of turning to the western corporate media to publicise the results. In consequence the first major story, published today by the Guardian, is all about Vladimir Putin and a cellist on the fiddle. As it happens I believe the story and have no doubt Putin is bent.

    But why focus on Russia? Russian wealth is only a tiny minority of the money hidden away with the aid of Mossack Fonseca. In fact, it soon becomes obvious that the selective reporting is going to stink.

    ---

    What do you expect? The leak is being managed by the grandly but laughably named “International Consortium of Investigative Journalists”, which is funded and organised entirely by the USA’s Center for Public Integrity. Their funders include

    Ford Foundation
    Carnegie Endowment
    Rockefeller Family Fund
    W K Kellogg Foundation
    Open Society Foundation (Soros)

    among many others. Do not expect a genuine expose of western [crony] capitalism. The dirty secrets of western corporations will remain unpublished.
    Don't believe me. Look it up yourself!

    Offline jofortruth

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #20 on: April 05, 2016, 10:15:37 AM »
    Powerful force is behind Panama Papers
    http://www.globaltimes.cn/content/977162.shtml

    Quote
    The Western media has taken control of the interpretation each time there has been such a document dump, and Washington has demonstrated particular influence in it. Information that is negative to the US can always be minimized, while exposure of non-Western leaders, such as Putin, can get extra spin.
    Don't believe me. Look it up yourself!

    Online TahoeBlue

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #21 on: April 05, 2016, 01:23:15 PM »
    For Reference:

    Money Laundering under Government Cover

    ...
    http://endthelie.com/2012/07/21/report-at-least-20-3-trillion-hidden-in-offshore-banks-by-global-elite/#ixzz21Mr1ryB2
    Report: at least $20.3 trillion hidden in offshore banks by global elite 
    By Madison Ruppert
    Editor of End the Lie

    According to the most detailed study of the so-called offshore economy  to date, conducted by James Henry, former chief economist with the consultancy McKinsey, the world’s richest people have taken advantage of cross-border tax laws in order to put away a shocking $20.31 trillion in offshore banks
    Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

    Online TahoeBlue

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    http://www.dailymail.co.uk/news/article-3524568/Iceland-PM-calls-dissolution-parliament-tax-scandal.html
    First victim of the Panama Papers:
    Iceland's prime minister QUITS two days after it emerged his family had hidden millions through tax haven – while his country's financial system collapsed

    PM Sigmunder David Gunlaugsson had made a request for a snap election
    But his President says he wants to consult with other party leaders first
    Came after thousands protested outside Parliament calling for PM to resign
    Opposition also presented motion of no-confidence against Gunnlaugsson
    ...
    By Simon Tomlinson for MailOnline
    Published: 08:21 EST, 5 April 2016  | Updated: 12:03 EST, 5 April 2016

    Leaked financial documents allege that he and his wife set up a company in the British Virgin Islands with the help of a Panamanian law firm.

    He is accused of a conflict of interest for failing to disclose his involvement in the company, which held interests in failed Icelandic banks that his government was responsible for overseeing.

    ...
    Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

    Offline chris jones

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    Ancient History;

    .Drug Ring Paid Noriega Millions, Witnesses Say - NYTimes ...
    www.nytimes.com/.../drug-ring-paid-noriega-millio...

    21 de out de 1991 - He estimated the total amount of money laundered in Panama for the cartel at more than $2 billion, meaning that General Noriega's personal ...
      Thats chump change, what was the real amount, where did it go....confiscated;;where..
     that was cartells, these are faces, whats the difference.

    Offline chris jones

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    Re: Elite Caught...moving wealth offshore Banks - $21 trillion
    « Reply #24 on: April 05, 2016, 06:57:28 PM »
    "The poor don't pay taxes!"

    Ever hear that reactionary meme before?

    Who authored and promoted that meme in the first place?

    And whose interests do you think they were serving in doing so? The interests of the "global elite," perhaps?

    Didn't some mucker on high speak of the hungry masses say " let them eat cake" or was it a clever author.
     The poor, the middle class are neck to neck---,,,Like G.Carlin said," they don't care "..

    Online Al Bundy

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    "Guardian/BBC/Reuters Papers" - Russian President Putin is main target before elections in september 2016.

    http://www.usatoday.com/story/news/world/2016/04/04/russia-says-putin-main-target-panama-papers/82600272/http://

    Offline John_Back_From_The_Club_O

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    The Panama Papers Maybe A NWO Hoax Or The NWO Intercepted Their Release And Claimed Them As Their Own.

    Either Way.  It will horribly backfire on the NWO.

    Enough has come out of it already to educate us all in how so many world leaders have sold out.

    Don't throw the baby out with the bathwater on this one. 
    The Crowd Shouted... “Give us Barabbas!” ... and People, The NWO Gave Him To You.
    http://www.dominicanajournal.org/give-us-barabbas/

    https://www.greatagain.gov

    Offline jofortruth

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    Panama Papers a win for encryption backers (Diane Feinstein needs to retire. She isn't thinking straight on anything these days. She only cares about her own privacy, not yours!)
    http://thehill.com/policy/cybersecurity/275291-panama-papers-a-win-for-encryption-backers
    Don't believe me. Look it up yourself!

    Offline jofortruth

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      • The Great Deception
    Don't believe me. Look it up yourself!

    Offline chris jones

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    http://www.dailymail.co.uk/news/article-3524568/Iceland-PM-calls-dissolution-parliament-tax-scandal.html
    First victim of the Panama Papers:
    Iceland's prime minister QUITS two days after it emerged his family had hidden millions through tax haven – while his country's financial system collapsed

    PM Sigmunder David Gunlaugsson had made a request for a snap election
    But his President says he wants to consult with other party leaders first
    Came after thousands protested outside Parliament calling for PM to resign
    Opposition also presented motion of no-confidence against Gunnlaugsson
    ...
    By Simon Tomlinson for MailOnline
    Published: 08:21 EST, 5 April 2016  | Updated: 12:03 EST, 5 April 2016

    Leaked financial documents allege that he and his wife set up a company in the British Virgin Islands with the help of a Panamanian law firm.

    He is accused of a conflict of interest for failing to disclose his involvement in the company, which held interests in failed Icelandic banks that his government was responsible for overseeing.

    ...
                   Icelanic citizens are not cowed by their leaders, this freak PM knows that, better he quit than get hung. Yet, it's not over yet, the citizens will go behind this mucker.

    Online TahoeBlue

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    http://www.zerohedge.com/news/2016-04-05/shots-fired-wikileaks-accuses-panama-papers-leaker-being-soros-funded-soft-power-tax
    Shots Fired: Wikileaks Accuses Panama Papers' Leaker Of Being "Soros-Funded, Soft-Power Tax Dodge"
    Tyler Durden's picture
    Submitted by Tyler Durden on 04/05/2016 23:44 -0400


    Earlier today, for the first time we got a glimpse into some of the American names allegedly contained in the "Panama Papers", largest ever leak. "Some", not all, and "allegedly" because as we said yesterday, "one can't help but wonder: why not do a Wikileaks type data dump, one which reveals if not all the 2.6 terabytes of data due to security concerns, then at least the identities of these 441 US-based clients. After all, with the rest of the world has already been extensively shamed, it's only fair to open US books as well."

    The exact same question appeared in an interview conducted between Wired magazine and the director of the organization that released the Panama Papers, the International Consortium of Investigative Journalists, or ICIJ, Gerard Ryle.

    This is what Ryle said:

        Ryle says that the media organizations have no plans to release the full dataset, WikiLeaks-style, which he argues would expose the sensitive information of innocent private individuals along with the public figures on which the group’s reporting has focused. “We’re not WikiLeaks. We’re trying to show that journalism can be done responsibly,” Ryle says. He says he advised the reporters from all the participating media outlets to “go crazy, but tell us what’s in the public interest for your country.”

    ,...

    Question aside about who it is that gets to decide which "innocent private individuals" are to be left alone ...

    Wikileaks: moments ago, on Twitter, accused the ICIJ of being a "Washington DC based Ford, Soros funded soft-power tax-dodge" which "has a WikiLeaks problem."

    ...

     even Bloomberg has hinted, may have been to benefit the last remaining global tax haven around, the United States itself, as well as the most notorious provider of "tax haven" services in in said country: Rothschild.

    http://www.zerohedge.com/news/2016-04-05/cat-out-bag-interview-mossack-fonseca-founders-admit-its-over-rothschilds-delight

    Days before the ICIJ released this weekend's trove of "Panama Papers" international tax haven data involving Panamaian law firm Mossack Fonseca, Bloomberg conducted an interview on March 29 with the two founding lawyers. In it, it found that even before the full leak was about to be made semi-public (any of the at least 441 US clients are still to be disclosed), the Panama law firm knew that the game was already largely over.

    | - - - -

    The leaker:

    http://www.thedailybeast.com/articles/2016/04/04/panama-papers-leaker-i-want-to-make-these-crimes-public.html

    LONDON — When an encrypted message first flashed up on Bastian Obermayer’s screen, the German investigative reporter could have no idea that he was about to receive the biggest leak of confidential material the world has ever seen.

    “Hello. This is John Doe. Interested in data?” the source asked. Of course, he was.

    Via an encrypted messaging service, the whistleblower continued:

    There are a couple of conditions. My life is in danger.

    We will only chat over encrypted files.


    No meeting, ever.

    ...

    The “Panama Papers” include 12 current or former heads of state, and more than 60 relatives of and associates of heads of state and other politicians.

    Some of these people have been linked to no crime whatsoever, while others stand accused of looting their own countries for personal gain.

    ...

    [ Lets see the Allen Dulles CIA Network ... : ]

    When Süddeutsche Zeitung realized the scope and potential fallout of this leak, they enlisted the help of the International Consortium of Investigative Journalists, based in Washington, D.C. They then shared the 11.5 million documents with journalists at 109 media organizations in 76 countries, ranging from the BBC to the Miami Herald.

    ...

    Even Obermayer does not know who it was.

    I don’t know the name of the person or the identity of the person,” he told Wired. “But I would say I know the person. For certain periods I talked to [this person] more than to my wife.”
    Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

    Offline Brocke

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    • I am not a number, I am a free man!
      • Vimeo page

    It now appears to be more of a controlled drip-feed than a leak.



    That men do not learn very much from the lessons of history is the most important of all the lessons of history.
    ~Aldous Huxley

    He who has a why to live can bear almost any how. - ~Friedrich Nietzsche

    Offline Geolibertarian

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    • 9/11 WAS AN INSIDE JOB! www.911truth.org
    https://en.wikipedia.org/wiki/Limited_hangout

    Limited hangout

    A limited hangout or partial hangout is, according to former special assistant to the Deputy Director of the Central Intelligence Agency Victor Marchetti, "spy jargon for a favorite and frequently used gimmick of the clandestine professionals. When their veil of secrecy is shredded and they can no longer rely on a phony cover story to misinform the public, they resort to admitting—sometimes even volunteering—some of the truth while still managing to withhold the key and damaging facts in the case. The public, however, is usually so intrigued by the new information that it never thinks to pursue the matter further."

    [Continued...]
    "Abolish all taxation save that upon land values." -- Henry George

    "If our nation can issue a dollar bond, it can issue a dollar bill." -- Thomas Edison

    http://schalkenbach.org
    http://www.monetary.org
    http://forum.prisonplanet.com/index.php?topic=203330.0

    Offline windyacres

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    Panama Papers: A Weapon Used Against Political Enemies of the Elite 


    France’s National Front and Britain’s UKIP targeted

    Kurt Nimmo
    Prison Planet.com
    April 6, 2016


    In addition to Russia’s Vladimir Putin, France’s upstart “far right” political leader Marine Le Pen has fallen victim to the selective revelations of the Panama Papers. British businessman Arron Banks, slotted to replace Nigel Farage as the leader of the UK Independence Party, has also taken heat.

    On Monday, Le Pen cited the papers selectively “leaked” by a Soros, Rockefeller and Rothschild funded “investigative journalism” outfit, the International Consortium of Investigative Journalists. “The control-free movement of men, goods and capital, coupled with high finance’s stranglehold on all levels of the economy, can only produce global fraudulent and money-laundering systems,” she said.

    The left-center French newspaper Le Monde followed up Le Pen’s remarks by publishing an account implicating her close friends and family members in a tax evasion scheme operated out of a shell company in Hong Kong. The Le Monde story says Frédéric Chatillon, a long time friend of Le Pen, was responsible for moving €300,000 into the offshore haven. Chatillon took to his Facebook page and argued the operation is entirely legal.

    The political establishment in France was dealt a blow in December when the populist and anti-EU National Front made unexpected election gains, particularly in Nord-Pas-de-Calais-Picardie where Le Pen won 40.6% of the vote. The previous year the party received 4,712,461 votes in the European Parliament election, finishing first with 24.86% of the vote and 24 of France’s 74 seats. France’s Socialist party appealed to the center-right Les Républicains to cobble together a bipartisan alliance capable of defeating Le Pen, but the effort was opposed by former President Nicolas Sarkozy.

    Former British Tory and UKIP donor Banks denies any involvement in a network of tax havens exposed by the Panama Papers. “It has been reported in The Guardian that Mr. Arron Banks was named in the leaked Panama files,” a spokesman for Banks said. “The claim is not true. Mr. Banks has never used the lawyer named and therefore does not appear in the leaked information.” He said companies mentioned in the article are defunct, do not trade and Banks “looks forward to receiving an apology” from The Guardian and the Daily Mail.

    The effort to damage UKIP arrives as Britain heads into a June 23 referendum to decide if the country will leave the European Union. The Westminster elite pulled out all the stops to convince the British people it is in their best interest to reject a Brexit. The establishment is also battling against public opinion that has turned against open borders promoted by the EU and an influx of foreigners. UKIP has capitalized on opposition to unchecked immigration and opposition to the European Union.

    “Ukip, thanks to its ability to capture the public mood, is fast becoming a formidable force in British politics. The political establishment is terrified. For the first time in decades its cartel is threatened. That is why the parties have lashed out so hysterically at Ukip trying to portray it as a group gripped by extremism or xenophobia,” Leo McKinstry wrote in 2014.

    As Infowars and others have noted key members of the political elite have yet to be directly implicated in tax avoidance schemes, although connections are now being made.

    For instance, Democrat frontrunner Hillary Clinton is linked to offshore tax havens through a Clinton-connected lobbying firm and Sidney Blumenthal, a longtime Clinton associate. Clinton is linked to Sberbank, Russia’s largest bank, through Podesta Group, a lobbying firm co-founded by Clinton’s campaign chairman John Podesta and his brother, Tony Podesta, a major Clinton bundler, writes Chuck Ross for The Daily Caller. Bidzina Ivanishvili, a billionaire and the former prime minister of the Caucasus state of Georgia, is mentioned in the Panama Papers and his name also appears in the Hillary Clinton email dump through Blumenthal.


    http://www.prisonplanet.com/panama-papers-a-weapon-used-against-political-enemies-of-the-elite.html

    Be Prepared

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    drip drip drip ...

    http://www.telegraph.co.uk/news/2016/04/07/david-cameron-admits-he-had-stake-in-his-fathers-panama-trust/
    David Cameron admits he had stake in his father's offshore trust
    By Steven Swinford,  Deputy Political Editor 
     7 April 2016 • 6:40pm   

    David Cameron
    has admitted that he had a stake in his father's offshore company which he sold for £30,000 shortly before he became Prime Minister

    Mr Cameron sought to end days of questioning about his families tax affairs by insisting that he paid income tax on the dividends in the "normal way".
    ...

    | - - - -
    http://www.theguardian.com/news/2016/apr/07/ex-hsbc-boss-michael-geoghegan-panama-papers-tried-to-avoid-tax-kensington-house
    Former HSBC boss tried to avoid tax on £8m Kensington house
    Holly Watt and David Pegg
    Thursday 7 April 2016 07.00 EDT 

    Panama Papers show Michael Geoghegan, a leading Brexit campaigner, has used offshore firms to manage his wealth

    The leading Brexit campaigner Michael Geoghegan is not resident in the UK for tax purposes, the Guardian can reveal.

    According to documents, the former chief executive of HSBC held his £8m Kensington townhouse through an offshore company – and planned to avoid tax by effectively renting the property to himself.

    The details came to light as part of a Guardian investigation prompted by the Panama Papers leak.
    ...
    Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

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    the ethics judge with no ethics?

    http://www.businessinsider.com/ap-fifa-ethics-judge-damiani-resigns-while-under-suspicion-2016-4
    FIFA's ethics judge just resigned after being named in the Panama Papers
    Associated Press
    Graham Dunbar, Associated Press

    Under suspicion in the fallout from the global offshore accounts investigation, Uruguayan lawyer Juan Pedro Damiani resigned as a FIFA ethics judge on Wednesday.

    Damiani was already under investigation by FIFA ethics prosecutors after being identified on Sunday in a vast leak of data from a law firm in Panama specializing in tax avoidance, which can be exploited for money laundering.

    ...

    Damiani did not tell the FIFA ethics committee until March that he and his family's law firm had a "business relationship" with Figueredo, a fellow Uruguayan who had been arrested in Zurich almost 10 months earlier.

    Figueredo was indicted by American federal prosecutors investigating corruption in world soccer and later extradited to Uruguay. He has pleaded guilty to fraud and money-laundering charges and acknowledged taking bribes.
    ...
    ... the sprawling FIFA bribery investigation
    ...

    On Wednesday, UEFA offices in Switzerland were raided by federal police to seize documents relating to the rights deal.

    Switzerland's attorney general is leading a widening investigation of FIFA, and now UEFA, business that includes suspected undervalued sales of TV rights. Criminal proceedings against Blatter were opened last September.
    Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

    Offline chris jones

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     This will be smoked, down the memory hole..
     What a shame, i haven't heard much about this MSM style, a few hit on amongst the thousands of suklings
     

    Offline chris jones

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    Hill-dogy backed the Panama agreement, no suprise is it. Where are our elected wonders USA in this regard.   Where is our mighty MSM+++++++++++++

    England seems to be taking this a tad more seriously.

    Panama Papers: David Cameron embroiled in tax ...
    www.telegraph.co.uk/.../panama-papers-tax-haven-u...
     - David Cameron's late father Ian Cameron linked to Panama Papers · David ... resign over allegations that he and his wife used an offshore firm to hide .... If you form a British Virgin Islands company you have to declare who you ...... 'Biased and hysterical': Government's £9million anti-Brexit letter sparks fury.
    Panama Papers reveal British firms are at the heart of vast ...
    www.mirror.co.uk › ... › UK News › Panama papers -
    4 de abr de 2016 - The 'Panama Papers' appear to have revealed Britain's key role as a link to ... worked with intermediaries in more than 100 countries all over the globe. .... Pay Off Your House At A Furious Pace If You've Not Missed A ...

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    https://theconservativetreehouse.com/2016/04/07/oh-dear-panama-papers-reveal-clinton-connection-to-russia/

    Oh Dear – Panama Papers Reveal Clinton Connection To Russia

    Posted on April 7, 2016   by sundance    
     
    (Via The Observer) The revelations of the so-called Panama Papers that are roiling the world’s political and financial elites this week include important facts about Team Clinton. This unprecedented trove of documents purloined from a shady Panama law firm that arranged tax havens, and perhaps money laundering, for the globe’s super-rich includes juicy insights into how Russia’s elite hides its ill-gotten wealth.
    ...


    | - - - -

    http://thefederalist.com/2016/04/08/the-panama-papers-make-the-case-against-hillary-clinton/

    The Panama Papers Are Exactly Why Hillary Clinton Can’t Be President

    ...


    And that confronts us with a question: do we want Panama here?


    Because a couple of other names pop up in the Panama Papers, including those of a few well-known associates of Hillary Clinton: longtime Democratic Party fixers John and Tony Podesta and Clinton sycophant Sydney Blumenthal. And why not? Hillary Clinton has been up to her neck in crony deals from the very beginning. All the way back in 1978, for example, she indulged a sudden mania for trading cattle futures, from which she made just shy of $100,000 in less than a year—a lot more money back then than it is now, and a whole lot for a young couple like the Clintons. She has shown no interest in commodities trading since, which is surprising considering how successful she was at it. But maybe not so surprising when you consider that her trades back then were made under the guidance of an attorney who worked for a large company that just happened to be regulated by her husband. Gee, that almost looks like a bribe.


    That’s the kind of thing that’s all over the Panama Papers, and it’s what Hillary Clinton has been doing forever. It’s how the Clintons suddenly made $100 million in the first few years after leaving the White House, with nothing to offer the business world but their political connections. It’s why the Clinton Foundation got massive donations from Russian businessmen with deals that required State Department approval.
    ...
    Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

    Online TahoeBlue

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    New term "Art Laundering"

    http://www.nytimes.com/2016/04/12/arts/design/what-the-panama-papers-reveal-about-the-art-market.html?_r=0
    What the Panama Papers Reveal About the Art Market
    By SCOTT REYBURN APRIL 11, 2016
    ...
    The documents reveal the surprising extent of art ownership behind such veils. At this point, though, the papers have not established the degree to which these strategies are being used, as some suspect, to manipulate markets, evade taxes or launder money.

    There may well be plenty of further revelations. At the moment, three cases in particular illustrate just how critical a role secrecy has come to play in the art market of today.
    ...

    Layers of Ownership Can Cloud Disputes

    The documents released last week provided a look at how the use of a shell corporation can confuse a restitution claim. For four years, Philippe Maestracci, a French resident, has been fighting in New York courts to claim a Modigliani painting, “Seated Man With a Cane,” which he says was taken from his grandfather by the Nazis.

    The painting, valued at $25 million, was bought at auction in 1996 by the International Art Center, a Panama-based entity that many in the art world had long associated with the Nahmad family of art dealers.

    Mr. Maestracci has struggled to make headway with his suit, partly because the Nahmads have said their galleries had no ownership stake in the offshore entity. The documents released last week established that Nahmad family members have controlled the International Art Center for more than 20 years, and that the family’s patriarch, David Nahmad, has been its sole owner since 2014.

    On Friday, Swiss prosecutors issued a seizure order for the painting, which the Art Center stores at the Geneva Freeport. The authorities would not discuss their reasoning. A lawyer for the company and the Nahmad family, Aaron Richard Golub, said that the order meant that the painting could not be moved from the freeport and that the company had 10 days to appeal the order.

    ...
    Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5