The Panama Papers- biggest leak in history?

[Symmetry]

Anyone else looking at this?

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

http://www.theguardian.com/news/2016/apr/03/panama-papers-money-hidden-offshore

Seems like the biggest exposure of money laundering and corrupt financial practices ever. Stay tuned.

[mrswdk]

The biggest money laundering story already broke several years ago:

London is now the global money-laundering centre for the drug trade, says crime expert

Interviewed by The Independent on Sunday, Mr Saviano said of the international drugs trade that “Mexico is its heart and London is its head”. He said the cheapness and the ease of laundering dirty money through UK-based banks gave London a key role in drugs trade.

Referring to HSBC’s record $1.9bn (£1.2bn) US fine for money laundering for the Mexican Sinaloa drugs cartel in 2012, Mr Saviano said: “The biggest UK bank! Yet it has scarcely been written about. The British treat it as not their problem, because there aren’t corpses on the streets.

[waauw]

This is why Christiano Ronaldo > Messi.

[muy_thaiguy]

http://fortune.com/2016/04/05/the-panam ... -in-china/
http://www.theatlantic.com/internationa ... nd/476724/
http://www.abc.net.au/news/2016-04-05/w ... ut/7299666

[warmonger1981]

Why no US connection?? Seem like a hit job.

[waauw]

Why no US connection?? Seem like a hit job.

The Russians area already accusing the american government being behind it all.

[GoranZ]

Why no US connection?? Seem like a hit job.

The Russians area already accusing the american government being behind it all.

Well there should be at least 10 times more records about US citizens/companies then for Russian when it comes to money volume. If there isn't, US government has its fingers in it. I'm not even taking into account the fact that some Russian individuals and companies were actively using offshore companies to do business with Western companies, since they weren't able to do it directly(sanctions).
So depending what will show up, we will know if US government has its fingers in it.

[saxitoxin]

Why no US connection?? Seem like a hit job.

The Russians area already accusing the american government being behind it all.

Well there should be at least 10 times more records about US citizens/companies then for Russian when it comes to money volume. If there isn't, US government has its fingers in it. I'm not even taking into account the fact that some Russian individuals and companies were actively using offshore companies to do business with Western companies, since they weren't able to do it directly(sanctions).
So depending what will show up, we will know if US government has its fingers in it.

yup, right now none of the 5EYES countries have any of their citizens implicated, except for the UK and only there a very loose connection to Cameron's late father

[saxitoxin]

also, I had spicy chili for dinner last week and drank a 2 liter of water to wash it down ... that was truly the biggest leak in history

[jgordon1111]

Why no US connection?? Seem like a hit job.

The Russians area already accusing the american government being behind it all.

Well there should be at least 10 times more records about US citizens/companies then for Russian when it comes to money volume. If there isn't, US government has its fingers in it. I'm not even taking into account the fact that some Russian individuals and companies were actively using offshore companies to do business with Western companies, since they weren't able to do it directly(sanctions).
So depending what will show up, we will know if US government has its fingers in it.

It's an election year, can't have this interfering, the whole gov't unraveling, not happening until they figure out who to throw under the bus, anybody want to bet which canidate gets tossed, and don't say billary to well protected, that cost alot to pull off though

[jonesthecurl]

I haven't appraised the following link but it may answer the "why no US exposures?"
https://www.craigmurray.org.uk/archives/2016/04/corporate-media-gatekeepers-protect-western-1-from-panama-leak/

[patches70]

There is big competition among firms that specialize in foreign trust accounts (Read: Tax Havens). The Panama Papers expose the clients of one such firm, Mossack Fonseca.
The Panama Papers themselves are some 2.6 terabytes of info which is being selectively doled out. That is some information is released, other information is withheld with the excuse of "protecting security concerns of private individuals". Exactly who is deciding which people are outed and which aren't, that's a bit harder to determine.

In the very recent interview with the founders and owners of Mossack Fonseca, they were quoted as saying that the "cat is out of the bag now and we have to deal with the aftermath". The "cat" they are speaking of is their uncanny ability to set up shell corporations for wealthy clients with the express purpose of shielding (read: evade) against taxation. Mossack Fonseca is closing up shop in the trust business, because, well, everyone now knows what they are up to. Clients would be nuts to go with them now. Hiring Mossack Fonseca now is like painting a target on your back.

As to why it seems the US is being left out, that is where the conspiracy theories start blowing up. As I said before there is huge competition among these firms where before the release of the Panama Papers Mossack Fonseca is one of the larger players. But there is a bigger player and now thanks to the Panama Papers are virtually the only game in town now.

Bloomberg just recently published a report about the biggest tax haven in the world. This was before the Panama Papers were revealed. Here is a screen shot for you-



That's right, the biggest tax haven in the world is the United States, specifically Nevada, Wyoming and South Dakota. In South Dakota for instance, firms like Cisca Trust Company and Trident Trust (one of the biggest providers in the world of offshore trusts) are moving in. The former has applied to open an office in SD and the latter moved a bunch of accounts out of Switzerland and the Cayman Islands and moved them into Sioux Falls ahead of the January 1 deadline to report.

Once these accounts are moved into the US based tax havens they are exempt from international disclosure agreements. And the biggest trust company in Nevada? Rothschild Trust.

Wikileaks has accused the ICIJ (who are the one's in control of the Panama Papers and who decides when and what is released) of being a Soros-Rothschild tax dodge. Wikileaks has called on the ICIJ to simply data dump the entire 2.6 terabytes of information for everyone to sift through. To wiki's demand ICIJ politely told Wikileaks to go f*ck themselves and are involved in somewhat of a twitter war/spat. Not as entertaining as say a Kanye West twitter implosion of retardedness, but you get the idea.

Now, there are Americans named and there are 441 US companies who have accounts with Mossack Fonseca. The American individuals named (so far) are all basically nobodies. Retirees, tax evaders, scammers, etc, but zero American politicians or anyone of note The Americans named include people like Benjamin Way (indicted on securities fraud last year), Igor Olenicoff (billionaire, found guilty of tax evasion sentenced to two years probation in 2007), Anthony Gumbiner (fined $1.7 million by the SEC for insider trading 1996 and went bankrupt in 2009), John Crim (convicted 2008 of fraud and tax evasion).

All these people had in common was accounts at Mossack Fonseca and, umm, were basically criminals, known criminals.
Some believe that the individuals who haven't been named yet due to "security concerns" are people who haven't actually been caught yet at tax evasion and US politicians. Being the large number of foreign politicians who have been so far named (with zero concern about their "security") and no US politicians there arises a couple of possibilities. No US politicians are involved in tax evasion (Har!), or US politicians don't use Mossack Fonseca accounts to hide money or maybe it is a State sponsored "attack" on other tax havens around the world with the purpose of "cornering" the tax haven market so to speak.
When one looks at how in the last decade or so the US has been so hell bent on shutting down Swiss accounts, Cayman Island tax havens, off shore accounts (remember Romney accused of hiding all that money in off shore accounts?) I leave it to those who look deeper into this mess to decide for themselves what's going on....

[warmonger1981]

Go figure Soros is involved. Also the major players in sociology like Ford,Rockefeller, and Carnegie. These foundations don't f*ck around. They f*ck things up since they were created. These foundations should be dismantled.

[AndyDufresne]

In the USA, you can setup shell and shelf companies more easily than in some other countries. So it's all just happening here for US folks likely.


--Andy

[GoranZ]

Panama Papers’ Publishers Don’t Need to Sell Out WikiLeaks

Wikileaks response... If you censor more than 99% of the documents you are engaged 1% journalism by definition.

I guess Panama Papers’ Publishers only want the papers to be big but they are tiny.
In the end it will turn out that Panama Papers’ Publishers are corrupted as the owners of the offshore accounts

[Symmetry]

Why no US connection?? Seem like a hit job.

The Russians area already accusing the american government being behind it all.

Well there should be at least 10 times more records about US citizens/companies then for Russian when it comes to money volume. If there isn't, US government has its fingers in it. I'm not even taking into account the fact that some Russian individuals and companies were actively using offshore companies to do business with Western companies, since they weren't able to do it directly(sanctions).
So depending what will show up, we will know if US government has its fingers in it.

yup, right now none of the 5EYES countries have any of their citizens implicated, except for the UK and only there a very loose connection to Cameron's late father

There's also a British banker implicated in funding arms to North Korea.
http://www.newsweek.com/panama-papers-mossack-fonseca-north-korea-444452

About 350 Canadians named:
http://www.saultstar.com/2016/04/05/dr-brian-shamess-among-350-canadians-listed-in-leaked-papers

Australia:
http://mobile.abc.net.au/news/2016-04-06/panama-papers-australian-pair-linked-to-north-korea-mining-deals/7303512

This is just casual googling, but the short of it is that you're wrong.

[saxitoxin]

The second major figure in the PP leak has just got busted -

Emma Watson, who played wizard Hermione Granger in the Harry Potter series, set up an offshore company using Mossack Fonseca, the law firm at the center of the leak, newly released data show. Watson's spokesman Luke Windsor said the actress set up the company to protect her safety, and does not gain any financial benefit or tax advantage from the move.

http://money.cnn.com/2016/05/11/news/em ... index.html

First the PM of Iceland, now - just six weeks later - Emma Watson. Looks like this goes straight to the top.

[Symmetry]

The second major figure in the PP leak has just got busted -

Emma Watson, who played wizard Hermione Granger in the Harry Potter series, set up an offshore company using Mossack Fonseca, the law firm at the center of the leak, newly released data show. Watson's spokesman Luke Windsor said the actress set up the company to protect her safety, and does not gain any financial benefit or tax advantage from the move.

http://money.cnn.com/2016/05/11/news/em ... index.html

First the PM of Iceland, now - just six weeks later - Emma Watson. Looks like this goes straight to the top.

lol, physician, heal thy selves.