Thursday 20 September
Powered by Ajaxy
Apr 4, 2016 @ 8:53

PanamaPapers breaks the Internet with revelations of global corruption

 

A year-long investigation by global journalists has revealed how a shady network of rich and powerful world leaders use offshore tax havens to hide their vast wealth, launder money, dodge sanctions and evade taxes despite legal requirements in place that should prevent exactly those things from occurring.

Dubbed the Panama Papers, 11 million encrypted internal documents — 2.6 terabytes worth — from Panamanian law firm Mossack Fonseca shine a light on secret offshore holdings from 128 politicians and public officials across the globe, including 12 current and former world leaders.

Dealing in offshore business is not illegal. But the use of offshore tax havens by heads of state and top officials raises serious questions.

Tags: ,

Related Stories
US Commerce Secretary Wilbur Ross held assets for much of last year that created conflicts
Germany's financial watchdog said it has found no evidence of any large-scale wrongdoing by the
Bilyonaryos and other Filipino businessmen are among the names caught up in the Panama Papers,
Said to be America’s richest doctor, Los Angeles multibillionaire Patrick Soon-Shiong also is a medical


Read full Article here »

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.