Paradise Papers leak reveals secrets of world elite's hidden wealth

[sandensea]

Source: The Guardian

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 (ICIJ) with partners including the Guardian, the BBC and the New York Times.

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.

Read more: https://www.theguardian.com/news/2017/nov/05/paradise-papers-leak-reveals-secrets-of-world-elites-hidden-wealth

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This should make the Panama Papers look like chicken thievery.

[bathroommonkey76]

1. Paradise Papers: Commerce chief Wilbur Ross's links with sanctioned Russians

A top member of Donald Trump's administration has business links with Russian allies of President Vladimir Putin who are under US sanctions, the Paradise Papers have revealed.

Commerce Secretary Wilbur Ross has an interest in Navigator Holdings, which earns millions a year transporting oil and gas for Russian energy firm Sibur.

Two major Sibur shareholders are under some form of US sanctions.

A commerce department spokesman did not dispute the revelations.

"Secretary Ross recuses himself from any matters focused on transoceanic shipping vessels," the spokesman told BBC Panorama, adding that the secretary "works closely with Commerce Department ethics officials to ensure the highest ethical standards".

Another Sibur shareholder is President Putin's son in law, Kirill Shamalov.

He holds a 3.9% stake in the firm. Gennady Timchenko, who has been individually sanctioned by the United States, as have at least 12 companies connected to him, and Leonid Mikhelson, whose main company, Novatek, is also sanctioned, are major shareholders.

http://www.bbc.com/news/world-us-canada-41876939

[Angry Dragon]

4. I get real sick of hearing from these spokepeople

let Wilbur speak for himself
does not count unless he says it
back to the Senate with him
The American people want to see all of his holdings

[sandensea]

6. Wilbur always struck me as one of Cheeto's weakest links

There was the billions of reputed money laundering as the "bankruptcy king," his role as Putin's bag man at the Bank of Cyprus, the $2 billion inter vivos gift he "neglected" to report (potential gift tax evasion of $800 million), and God knows what else.

Plus, he just looks so damned sinister - like a cross between Nixon and Mr. Burns.

[calimary]

7. Your post causes me to wonder whether we should be spelling "Cheeto" as "Cheato."

Either one works. Either one fits like a glove.

[sandensea]

9. Everyone who's ever trusted the spray-tanned oaf can attest to that.

Including, I might add, Putin himself.

I wouldn't be surprised if he throws Cheato under the bus now.

[Twitler]

2. We are getting a look into the rotten core of this regime

Nearly everybody ever associated with the campaign or the regime had/has a stake in getting the sanctions removed and the Magnitsky Act repealed. It goes to motive, time to Lock Them Up!

[Snarkoleptic]

3. Russian oligarchs has their hooks deep into the Trump admin.

This is a cancer that must be cut out!

[groundloop]

5. Gee, huge coincidence that so many in 45*s administration have links to Putin!!!!!

It's becoming abundantly clear that 45* purposely filled his administration with fellow Putinistas. The entire bunch of them belong in prison.

[hedda_foil]

8. "Payments from a firm co-owned by Vladimir Putins son-in-law to Wilbur Ross's shipping company."

Putin's fucking son in law!

[Stallion]

10. Its Amazing that the US Runs Record Deficits Isn't It

I thought it was because poor people don't pay no income tax

[sandensea]

11. A devilish $666 billion last year alone.

Of which two-thirds was, according to IRS estimates, attributable to tax evasion (plus another trillion or so to legal tax avoidance).

[Stallion]

14. These International Billionaires are Draining the Treasuries of Countries Around the World Too

[sandensea]

15. Bush invaded the wrong countries.

If he really wanted to protect U.S. national security interests (and of course he couldn't care less), he would have invaded the Caymans, Bermuda, the Cook Islands, Guernsey, and the Isle of Man.

[OliverQ]

12. These papers implicate Ross, Tillerson, and Kushner with strong ties to Putin

[sandensea]

13. It's Christmas in November for Bob Mueller.

Or a well-deserved early birthday gift.