The Paradise Papers Project

[malaise]

https://www.theguardian.com/news/2017/nov/05/paradise-papers-leak-reveals-secrets-of-world-elites-hidden-wealth
<snip>
The world’s biggest businesses, heads of state and global figures in politics, entertainment and sport who have sheltered their wealth in secretive tax havens are being revealed this week in a major new investigation into Britain’s offshore empires.

The details come from a leak of 13.4m files that expose the global environments in which tax abuses can thrive – and the complex and seemingly artificial ways the wealthiest corporations can legally protect their wealth.

The material, which has come from two offshore service providers and the company registries of 19 tax havens, was obtained by the German newspaper Süddeutsche Zeitung and shared by the International Consortium of Investigative Journalists with partners including the Guardian, the BBC and the New York Times.

The project has been called the Paradise Papers. It reveals:

Millions of pounds from the Queen’s private estate has been invested in a Cayman Islands fund – and some of her money went to a retailer accused of exploiting poor families and vulnerable people.
Extensive offshore dealings by Donald Trump’s cabinet members, advisers and donors, including substantial payments from a firm co-owned by Vladimir Putin’s son-in-law to the shipping group of the US commerce secretary, Wilbur Ross.
How Twitter and Facebook received hundreds of millions of dollars in investments that can be traced back to Russian state financial institutions.

-------------
more at link

[Me.]

1. Great Timing On The Reveal Of Their Tax Cuts

[dhol82]

2. And Wilbur Ross becomes more and more interesting.

Hope Mueller is digging.

[lindysalsagal]

3. 45's chief economic advisor right in the middle of the offshore accounts: 45 promised to end them...

Trump’s chief economic adviser, (Gary Cohn) Trump’s chief economic adviser, who is the driving force behind the White House tax reform effort, is no stranger to offshore finance. The leaked documents reveal that for various periods between 2002 and 2006, Cohn was president or vice-president of 22 separate entities in Bermuda for Goldman Sachs.


As head of the bank’s commodities and then equities divisions, Cohn spearheaded the bank’s purchase of companies from a financial arm of General Motors, GMAC Commercial Holding of Bermuda.Trump’s chief economic adviser, who is the driving force behind the White House tax reform effort, is no stranger to offshore finance. The leaked documents reveal that for various periods between 2002 and 2006, Cohn was president or vice-president of 22 separate entities in Bermuda for Goldman Sachs.

[Madam45for2923]

4. The Paradise Papers Project! Sounds like Wilbur is toast!

[safeinOhio]

5. Going to be lots of

hands caught in the cookie jar.
Drip, drip, drip.......

[BumRushDaShow]

6. Swamp the drain! nt

[grantcart]

7. kick

[SeattlePop]

8. There Is No Drain

It was just a sales pitch.

[Sancho]

9. Just in time for tax reform!!

How much does it cost to send a post card from the Cayman Islands?

[nitpicker]

10. More on Queen's estate from The Guardian

https://www.theguardian.com/news/2017/nov/05/revealed-queen-private-estate-invested-offshore-paradise-papers

[riversedge]

11. Massive Leak Reveals New Ties Between Trump Admin Russia, Implicating Commerce Secretar

BOMBSHELL
Massive Leak Reveals New Ties Between Trump Administration and Russia, Implicating Commerce Secretary Wilbur Ross and Jared Kushner


https://www.thedailybeast.com/massive-leak-reveals-new-ties-between-trump-administration-and-russia-implicating-commerce-secretary-wilbur-ross-and-jared-kushner

The so-called Paradise Papers have revealed secrets of politicians worldwide, including new links between the Trump administration and Russia.

11.05.17 2:12 PM ET

...............................................

The so-called Paradise Papers were leaked to the German newspaper Süddeutsche Zeitung, the same publication that obtained the “Panama Papers.” Süddeutsche Zeitung shared the new documents with the International Consortium of Investigative Journalists, which led a global effort of 96 media organizations from 67 countries to pore through the records. The findings were published on Sunday.

The documents show that many of the wealthy individuals Trump brought into his administration have worked to legally store their money in offshore havens where they would be free from taxation in the United States. Trump has promised repeatedly to “drain the swamp,” in condemning the idea that well-connected individuals in Washington, D.C., preserve their own interests at the expense of the rest of the country.

Among the Trump administration officials implicated in the leaks is Commerce Secretary Wilbur Ross, who according to the documents concealed his ties to a Russian energy company that is partly owned by Russian President Vladimir Putin’s judo partner Gennady Timchenko and Putin’s son-in-law, Kirill Shamalov. Through offshore investments, Ross held a stake in Navigator Holdings, which had a close business relationship with the Russian firm. Ross did not disclose that connection during his confirmation process on Capitol Hill.

“In concealing his interest in these shipping companies—and his ongoing financial relationship with Russian oligarchs—Secretary Ross misled me, the Senate Commerce Committee, and the American people,” Sen. Richard Blumenthal (D-CT) said in a statement on Sunday. He characterized Ross’ financial disclosures as a “Russian nesting doll, with blatant conflicts of interest carefully hidden within seemingly innocuous companies.”...............................

[BSdetect]

12. Currency trading - more in one day than the entire world's GDP for one year.

[FakeNoose]

13. I don't think Queen Elizabeth can be called a tax dodger

She may have investments in a lot of places all over the world, but the reason isn't to avoid paying taxes.

By definition the British taxes are paid to her, so she's not dodging her own taxes. Am I right about that? If any Brit can afford to pay their taxes it's gotta be the Queen. She's one of the wealthiest people in the world. Or she used to be before Brexit.