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Leaked files from a Panama law firm that creates shell companies show that politicians, criminals and celebrities worldwide have used banks and shadow companies to hide their finances, according to a series of reports by the International Consortium of Investigative Journalists.

Within hours of publication, the divulgences prompted a parliamentary vote of confidence in Iceland, a curt denial from Argentina and ridicule from a close confidant of Russian President Vladimir Putin.

The consortium said it had obtained a cache of 11.5 million records outlining the creation of more than 200,000 offshore shell companies. The trove includes offshore companies linked to 12 current and former world leaders, as well as hidden financial dealings by 128 more politicians, public officials and entertainment celebrities, according to the ICIJ.

Continue reading:  World Leaders Hid Wealth Via Shell Companies, Report Alleges

Further reading:  The Panama Papers: What you need to know

 

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17 thoughts on “World Leaders Hid Wealth Via Shell Companies, Report Alleges

  1. I look forward to more revelations on this topic! I hope Hillary hasn’t hidden any money away illegally. That would be truly nerve-wracking for her. (Feel the Bern!)

    • I am feelin’ the Bern! I also think Hillary is savvy enough not to hide her wealth in tax-avoiding, offshore shell corporations considering the public scrutiny she’s constantly under. But, who knows? Even so, what bothers me more is that the establishment class she politically represents is responsible for creating these tax-avoiding schemes.

      • Yes. The “established” ways many elite follow are commonplace, if illegal or unethical. Political/financial systems must be overhauled – and the political revolution serves that purpose. Feel the Bern! 🙂

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