Panama Papers

Ann O'Nymous · Apr 4, 2016

https://panamapapers.icij.org/

The largest cross-border journalism collaboration ever has uncovered a giant leak of documents from Mossack Fonseca, a global law firm based in Panama.
The secret files:

Include 11.5 million records, dating back nearly 40 years – making it the largest leak in offshore history. Contains details on more than 214,000 offshore entities connected to people in more than 200 countries and territories. Company owners in billionaires, sports stars, drug smugglers and fraudsters.

Reveal the offshore holdings 140 politicians and public officials around the world – including 12 current and former world leaders. Among them: the prime ministers of Iceland and Pakistan, the president of Ukraine, and the king of Saudi Arabia.

Document some $2 billion in transactions secretly shuffled through banks and shadow companies by associates of Russian President Vladimir Putin.

Include the names of at least 33 people and companies blacklisted by the U.S. government because of evidence that they’d been involved in wrongdoing, such as doing business with Mexican drug lords, terrorist organizations like Hezbollah or rogue nations like North Korea and Iran.

Show how major banks have driven the creation of hard-to-trace companies in offshore havens. More than 500 banks their subsidiaries and their branches – including HSBC, UBS and Société Générale – created more than 15,000 offshore companies for their customers through Mossack Fonseca.

White Tara · Apr 4, 2016

http://www.dailymail.co.uk/news/art...anama-firm-country-s-financial-collapsed.html
Let the fallout begin.

DeathHamster · Apr 4, 2016

Previous thread:
https://whyweprotest.net/threads/massive-data-leak-exposes-offshore-financial-secrets.110165/

Random guy · Apr 4, 2016

Poor Icelanders, they've managed to elect yet another asshole as prime minister:

Prime minister calls police on foreign journalists

and

Icelandic PM refuses to resign amid Panama Papers leak

ELI5 · Apr 4, 2016

A Primer
Panama Papers- Explain Like I'm 5
https://nr.reddit.com/r/explainlikeimfive/comments/4d8rta/eli5_the_panama_papers/

DeathHamster · Apr 4, 2016

http://www.theguardian.com/news/2016/apr/03/what-you-need-to-know-about-the-panama-papers

What are the Panama Papers? A guide to the biggest data leak in history

What is Mossack Fonseca, how big is it, and who uses offshore firms? Key questions about one of the biggest ever data leaks

Revealed: the $2bn offshore trail that leads to Vladimir Putin

How the world’s rich and famous hide their money offshore

Panama Papers: global reaction - live

The Panama Papers are an unprecedented leak of 11.5m files from the database of the world’s fourth biggest offshore law firm, Mossack Fonseca. The records were obtained from an anonymous source by the German newspaper Süddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ). The ICIJ then shared them with a large network of international partners, including the Guardian and the BBC.

Good link thnx · Apr 4, 2016

ELI5 said: ↑

A Primer
Panama Papers- Explain Like I'm 5
https://nr.reddit.com/r/explainlikeimfive/comments/4d8rta/eli5_the_panama_papers/

Interesting read. Bump.

Random guy · Apr 4, 2016

Some serious stuff:

BBC:
Panama papers: Mossack Fonseca 'helped firms subject to sanctions'

The company Mossack Fonseca seems to have helped among other firms connected to the North Korea nuclear weapons program. My hope is the US will come down on them like a ton of bricks.

Sekee · Apr 5, 2016

For years, the records show, Mossack Fonseca has earned money creating shell companies that have been used by suspected financiers of terrorists and war criminals in the Middle East; drug kings and queens from Mexico, Guatemala and Eastern Europe; nuclear weapons proliferators in Iran and North Korea, and arms dealers in southern Africa.
“It sounds almost like a corporate death wish taking on that many horrible people,” said Jason Sharman, a political scientist at Australia’s Griffith University and co-author of a groundbreaking study of anonymous companies. “You’d think that, even if they were cynical, they’d be reluctant dealing with U.S. sanctioned entities and taking on the United States.”
https://panamapapers.icij.org/20160404-sanctioned-blacklisted-offshore-clients.html

I hope the whole world comes down on them like a ton of bricks.

Sekee · Apr 5, 2016

Iceland’s embattled prime minister, Sigmundur Davíð Gunnlaugsson, has tendered his resignation in the wake of a mounting political crisis over his family’s offshore investments, local media have reported, but his departure has yet to be agreed by either his coalition partners of the country’s president.
http://www.theguardian.com/world/20...nister-resigns-over-panama-papers-revelations

One brick down.

Random guy · Apr 5, 2016

Sekee said: ↑

One brick down.

Seems the president over there had enough and put him in a position where his only option was to withdraw. Good on the Icelanders!

Anonymous · Apr 8, 2016

It's a shame that the Donald isn't exposed as a tax cheat in this yuge ,tremendous , winning leak.
That would have been delicious.

DeathHamster · Apr 8, 2016

disgusting said: ↑

It's a shame that the Donald isn't exposed as a tax cheat in this yuge ,tremendous , winning leak.
That would have been delicious.

There hasn't been a whole lot of Americans leaked so far. What gives? Hmm.

http://www.ctvnews.ca/business/why-are-so-few-americans-named-in-the-panama-papers-1.2850790

Why are so few Americans named in the Panama Papers?

Rich and influential people around the globe have found themselves under siege since a major data leak revealed their ties to secretive financial accounts and shell companies in low-tax havens used to hide wealth.

The uproar has brought down the prime minister of Iceland and raised questions about the presidents of Argentina and Ukraine, senior Chinese politicians, and the circle of friends of Russian President Vladimir Putin. On Thursday, British Prime Minister David Cameron became the latest politician ensnared when he acknowledged having profited from his father's investments in an offshore tax haven before being elected.

Yet few American names have cropped up in the "Panama Papers," a trove of 11.5 million confidential records detailing such accounts. That's because the Panama-based Mossack Fonseca law firm at the centre of the scandal doesn't like taking on American clients, one of its founders says.

Ramon Fonseca, who started the firm with Jurgen Mossack, told The Associated Press in an interview Thursday that their law firm has only a handful of American clients, most of them members of Panama's burgeoning expat retirement community. It's not out of any anti-Americanism or fear of the Internal Revenue Service.

"My partner is German, and I lived in Europe, and our focus has always been the European and Latin American market," Fonseca said at his law office.

"He loves the U.S. a lot, and I do, too. My kids were educated there," Fonseca added. But "as a policy we prefer not to have American clients."
[..]

Well, isn't that special.

Sekee · Apr 8, 2016

Why aren't there more Americans implicated in the Panama Papers? Well, there might be: An editor with Süddeutsche Zeitung, the German newspaper that has been leading the investigation of the records, tweeted Monday to "just wait" until more were released. But some tax experts suggest the reason is that U.S. executives simply don't have to leave the country to find places to make sly-but-legal business deals. The practices detailed in the documents are simply standard in many parts of the country, including Nevada and Delaware.
"A very small number of states are notorious for allowing pretty much anybody to start a company in the state without requiring even the most basic information," said Matthew Gardner, executive director of the Institute on Taxation and Economic Policy with Citizens for Tax Justice, a progressive think tank and advocacy group in Washington. "There are a few states that effectively make the U.S. a privacy haven in exactly the same way that Panama is being described here."

http://www.ibtimes.com/why-arent-mo...-nevada-other-states-provide-2348557?rel=rel2

The names of hundreds of Americans have surfaced in the Panama Papers, including a handful of U.S. businessmen accused or convicted by U.S. authorities for ties to financial crimes or Ponzi schemes.

http://www.usatoday.com/story/news/...mericans-with-past-financial-crimes/82704788/

A major donor to the Clinton campaign has also been named.

At least one of Clinton’s biggest donors, hedge fund manager James Simons, has benefitted from those strategies. His firm, Renaissance Technologies, was the subject of a review by the IRS because of a tax loophole that saved the firm an estimated $6.8 billion over a decade, according to a Senate investigation. So far in the 2016 cycle, Simons has donated $3.5 million to Priorities USA Action, a super PAC backing Clinton’s presidential run, according to data from the Center for Responsive Politics.
http://www.ibtimes.com/panama-paper...enefits-tax-loopholes-while-she-calls-2349440

Personally I’m enjoying watching Cameron wiggling on the hook.

Sekee · Apr 9, 2016

The Brits are protesting in London today.

http://metro.co.uk/2016/04/09/thous...t-calling-on-david-cameron-to-resign-5805212/

CommunicatorIC · Apr 9, 2016

From the Sunday Times - free downlaod:

Panama papers: the names - Search our database of 37,000 names linked to Mossack Fonseca companies in the tax haven of Panama

http://features.thesundaytimes.co.uk/web/public/2016/04/10/index.html

**********************************

The zip file:

https://raw.githubusercontent.com/times/data/master/sunday_times_panama_data.zip

Expanded, the csv file is 105 MB.

White Tara · Apr 10, 2016

CommunicatorIC said: ↑

From the Sunday Times - free downlaod:

Panama papers: the names - Search our database of 37,000 names linked to Mossack Fonseca companies in the tax haven of Panama

http://features.thesundaytimes.co.uk/web/public/2016/04/10/index.html

**********************************

The zip file:

https://raw.githubusercontent.com/times/data/master/sunday_times_panama_data.zip

Expanded, the csv file is 105 MB.

What an interesting and handy little database that is. Nice one Sunday Times.

Jeff Jacobsen · Apr 10, 2016

I looked for Scientology connection in the spreadsheet but didn't find anything.

Anonymous · Apr 11, 2016

White Tara said: ↑

What an interesting and handy little database that is. Nice one Sunday Times.

Lol. Kudos to them.

khavarikan · Apr 14, 2016

it's everywhere man...

Until recently, Mossack Fonseca has largely operated in the shadows. But it has come under growing scrutiny as governments have obtained partial leaks of the firm’s files and authorities in Germany and Brazil began probing its practices.

In February 2015, Süddeutsche Zeitung reported that German law-enforcement agencies had launched a series of raids targeting one of the country’s biggest banks, Commerzbank, in a tax-fraud investigation that authorities said could lead to criminal charges against Mossack Fonseca employees.

In Brazil, the law firm has become a target in a bribery and money laundering investigation dubbed “Operation Car Wash” (“Lava Jato,” in Portuguese), which has led to criminal charges against leading politicians and an investigation of popular former president Luiz Inacio Lula da Silva. The scandal threatens to unseat current President Dilma Rousseff.

articles/00Overview/160403-overview-06.jpg
Employees of Mossack Fonseca were among those arrested by Brazilian police as part of Operation Car Wash. Image: RedeTV
In January, Brazilian prosecutors labeled Mossack Fonseca as a “big money launderer” and announced they had filed criminal charges against five employees of the firm’s Brazilian office for their role in the scandal.

Mossack Fonseca denies any wrongdoing in Brazil.

DeathHamster · Oct 17, 2017

https://boingboing.net/2017/10/17/daphne-caruana-galizia.html

Panama Papers journalist assassinated by car-bomb in Malta

Daphne Caruana Galizia, one of the lead journalists on the Panama Papers story, has been assassinated by a car-bomb in the town of Bidnija in northern Malta.

The Panama Papers were a collection of leaked documents from the Panamanian law-firm of Mossack-Fonseca, and revealed the abuse of tax-havens by dictators, politicians, actors, hereditary one percenters, businesspeople and others around the world, bringing down at least one government.

Two weeks ago, Caruana Galizia notified Maltese police that she had been receiving death-threats. She had lead the Panama Papers reporting as it pertained to corruption in Mediterranean islands, and her blog was a constant source of relentless anti-corruption reporting, including recent allegations of corruption against Maltese Prime Minister Joseph Muscat.
[..]

Fuck!

DeathHamster · Mar 1, 2018

https://www.thestar.com/news/canada...at-let-big-banks-avoid-billions-in-taxes.html

Ottawa promises crackdown on loopholes that let big banks avoid billions in taxes

The federal budget on Tuesday announced a series of measures to combat tax evasion and avoidance techniques revealed in the Star’s Panama Papers and Paradise Papers investigations.

The federal government has singled out Canadian banks for gaming the tax system to artificially reduce their tax bills.

In the budget released Tuesday, Ottawa announced it will tighten tax rules “meant to prevent a small group of taxpayers, typically Canadian banks and other financial institutions, from gaining a tax advantage.”

The measure was one of a slew of reforms to prevent tax evasion and avoidance that Ottawa estimates will bring in almost $1 billion per year.

An investigation published by the Star and Corporate Knights magazine in December crunched six years of corporate financial data to show that Canada’s Big Five banks avoided an average of $3.8 billion in tax every year.

Despite being the most profitable companies in the country, Canadian banks pay 1/3 the tax rate of other large corporations. They also pay a lower rate of tax than big banks in any other G7 country.

If they do, that'll be a start. There's still not much action against individual 1%er tax cheats, and the Liberal's "crackdown" started way down the tree at the upper middle class. (A dentist with a good home, a few cars. Not someone on the board of a multi-generational family empire.)

DeathHamster · Sep 22, 2020

https://www.bbc.com/news/uk-54226107

FinCEN Files: All you need to know about the documents leak

Leaked documents involving about $2tn of transactions have revealed how some of the world's biggest banks have allowed criminals to move dirty money around the world.

They also show how Russian oligarchs have used banks to avoid sanctions that were supposed to stop them getting their money into the West.

It's the latest in a string of leaks over the past five years that have exposed secret deals, money laundering and financial crime.
What are the FinCEN files?

The FinCEN files are more than 2,500 documents, most of which were files that banks sent to the US authorities between 2000 and 2017. They raise concerns about what their clients might be doing.

These documents are some of the international banking system's most closely guarded secrets.

Banks use them to report suspicious behaviour but they are not proof of wrongdoing or crime.

They were leaked to Buzzfeed News and shared with a group that brings together investigative journalists from around the world, which distributed them to 108 news organisations in 88 countries, including the BBC's Panorama programme.

Hundreds of journalists have been sifting through the dense, technical documentation, uncovering some of the activities that banks would prefer the public not to know about.

conchosunwi · Mar 3, 2023

Xã Nghĩa Hiếu dog e ô h i , 7

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Panama Papers

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Good link thnx

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