Tuesday, April 5, 2016
By Paul Martin

Wealth hidden for tax evasion, money laundering, sanctions busting, drug deals


A leak of millions of pages of documents from a Panama City law firm has shed light on the shadowy world of tax shelters for the 1 percenters, but a spokesman for the firm that was hit says it’s all part of an “international campaign against privacy.”

According to a Reuters report, the newspaper Sueddeutsche Zeitung in Germany got a dump of about 11.5 million documents from the law firm’s database.

The pages immediately were shared with more than 100 additional news outlets around the world as well as the International Consortium of Investigative Journalists.

Reuters said Ramon Fonseca, the director of Mossack Fonseca, which specialized in setting up offshore companies, confirmed what he called a “limited” hack.

The ICIJ reported there were details about billions of dollars of financial trasnactions involved.

“Britain’s Guardian newspaper said the documents showed a network of secret offshore deals and loans worth $2 billion led to close friends of Russian President Vladimir Putin. The Kremlin dismissed the report as aiming to discredit Putin ahead of parliamentary elections,” Reuters reported.

The Rest…HERE

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