THE CAT IS OUT OF THE BAG

6 Apr

HALL OF SHAME: a failure to meet your own standards of behavior

 

 

BUSTED!
Johann Wagener 4-5-13

 

Breaking News! The rich, wealthy, elite, entitled, and privileged of the world are lying, stealing, hiding, evading, and hoarding the world’s wealth. And they are getting a lot of help from banks, lawyers, accountants, and politicians that pander to them. As for the other 99%? They are being taken for a ride!

Secrecy for Sale: Inside the Global Offshore Money Maze

 

Dozens of journalists sifted through millions of leaked records and thousands of names to produce ICIJ’s investigation into offshore secrecy ­

A cache of 2.5 million files has cracked open the secrets of more than 120,000 offshore companies and trusts, exposing hidden dealings of politicians, con men and the mega-rich the world over.

  • Government officials and their families and associates in Azerbaijan, Russia, Canada, Pakistan, the Philippines, Thailand, Mongolia and other countries have embraced the use of covert companies and bank accounts.
  • The mega-rich use complex offshore structures to own mansions, yachts, art masterpieces and other assets, gaining tax advantages and anonymity not available to average people.
  • Many of the world’s top’s banks – including UBS, Clariden and Deutsche Bank – have aggressively worked to provide their customers with secrecy-cloaked companies in the British Virgin Islands and other offshore hideaways.
  • A well-paid industry of accountants, middlemen and other operatives has helped offshore patrons shroud their identities and business interests, providing shelter in many cases to money laundering or other misconduct.
  • Ponzi schemers and other large-scale fraudsters routinely use offshore havens to pull off their shell games and move their ill-gotten gains.

http://www.icij.org/offshore/secret-files-expose-offshores-global-impact

 

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