Bombshell ‘Pandora Papers’ Shed Light On Global Elite’s Financial Secrets

    Hundreds of world leaders, politicians, celebrities and religious leaders have been using offshore accounts to shield assets collectively worth trillions of dollars.

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    HP: Hundreds of world leaders, powerful politicians, billionaires, celebrities, religious leaders and drug dealers have been hiding their investments in mansions, exclusive beachfront property, yachts and other assets for the past quarter-century, according to a review of nearly 12 million files obtained from 14 firms located around the world.

    The report released Sunday by the International Consortium of Investigative Journalists involved 600 journalists from 150 media outlets in 117 countries. It’s being dubbed the “Pandora Papers” because the findings shed light on the previously hidden dealings of the elite and the corrupt, and how they have used offshore accounts to shield assets collectively worth trillions of dollars.

    The more than 330 current and former politicians identified as beneficiaries of the secret accounts include Jordan’s King Abdullah II, former U.K. Prime Minister Tony Blair, Czech Republic Prime Minister Andrej Babis, Kenyan President Uhuru Kenyatta, Ecuador’s President Guillermo Lasso, and former associates of both Pakistani Prime Minister Imran Khan and Russian President Vladimir Putin.

    The billionaires called out in the report include Turkish construction mogul Erman Ilicak and Robert T. Brockman, the former CEO of software maker Reynolds & Reynolds.



    Many of the accounts were designed to evade taxes and conceal assets for other shady reasons, according to the report.

    “The new data leak must be a wake-up call,” said Sven Giegold, a Green party lawmaker in the European Parliament. “Global tax evasion fuels global inequality. We need to expand and sharpen the countermeasures now.”  Read more…

    https://www.huffpost.com/entry/ap-us-pandora-papers_n_615a1979e4b008640eb5cf32

     

     

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    4 COMMENTS

    1. didnt this paper come out fairly long time ago in some sort of media leak?
      I can understand lots of reason for going offshore in untraceable bank accounts has alot to do not only with greed and not wanting to pay taxes etc.
      But also alot to do with your country being sanctioned by the US government and is necessity to keep it off books so it cant be seized,
      I bet Maduro in Venezuela has dropped alot of government cash into offshore accounts as one example.

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