Panama Papers - America, fraud yeah! [UPDATE]Pakistani PM DQ'd from holding public office

Mods are welcome to lock this if somebody wants to make a more in-depth thread regarding the leak. I'm just posting it to spread the news.

twitter.com/OCCRP/status/716714766329360386

https://www.occrp.org/en/panamapapers/

What are the Panama Papers?

The $2bn offshore trail that leads to Vladimir Putin

The Panama Papers: how the world’s rich and famous hide their money offshore

Leaked papers give Fifa ethics committee new credibility crisis - Messi news is at end of this article.

A world of hidden wealth: why we are shining a light offshore - Huge leak reveals how the powerful exploit secretive tax regimes – and widen the gulf between rich and poor

Monkey Man wrote:

The Cameron docs - https://www.documentcloud.org/documents ... ndoc2.html & https://www.documentcloud.org/documents ... ndoc1.html

Someone mentioned on twitter that Cameron senior is involved too. This could get interesting.

The Cameron docs - https://www.documentcloud.org/documents ... ndoc2.html & https://www.documentcloud.org/documents ... ndoc1.html

All in it together....

Why does the Kind of Saudi Arabia even need to store his money in tax havens when he is the absolute ruler?

A world of hidden wealth: why we are shining a light offshore - Huge leak reveals how the powerful exploit secretive tax regimes – and widen the gulf between rich and poor

Rightey wrote:Why does the Kind of Saudi Arabia even need to store his money in tax havens when he is the absolute ruler?

Got to have nest egg in case he gets overthrown

twitter.com/OCCRP/status/716714766329360386

https://www.occrp.org/en/panamapapers/

I'm not sure how childhood friends of Putin is very relevant. I wouldn't want to take responsibility for anything my old classmates get up to. :lol:

Interesting stuff though and I would imagine there is more to come. Not exactly shocking, we all know the rich and powerful do this stuff, but potentially very embarrassing for some powerful people.

my dad has an offshore account :shifty:

Seems appropriate -

Is this supposed to be new information that the Super rich use off shore accounts?

Return_of_the_STAR wrote:Is this supposed to be new information that the Super rich use off shore accounts?

Whilst the news that the mind bogglingly rich (and even some who aren't anywhere near as well off) do this kind of thing isn't new, we've never had a leak of this size before, nor such specific details on how they go about it.

https://panamapapers.icij.org/

<]:^D wrote:my dad has an offshore account

Serious question, what are the legitimate reasons for having such an account?

The article repeatedly states it's not illegal, but I've never heard an explanation for what the legit reasons for having these accounts are.

Moggy wrote:I'm not sure how childhood friends of Putin is very relevant. I wouldn't want to take responsibility for anything my old classmates get up to.

He's just like Extension Girl if the extension was Donetsk...

Nothing will happen though.

Rightey wrote:
<]:^D wrote:my dad has an offshore account

Serious question, what are the legitimate reasons for having such an account?

The article repeatedly states it's not illegal, but I've never heard an explanation for what the legit reasons for having these accounts are.

I think the biggest incentive is to basically pay less tax by getting organisations like this Panamanian outfit to exploit tax loopholes.

Rightey wrote:
<]:^D wrote:my dad has an offshore account

Serious question, what are the legitimate reasons for having such an account?

The article repeatedly states it's not illegal, but I've never heard an explanation for what the legit reasons for having these accounts are.

The only reason is to lower your tax bill. There is no legit reason it's just possible because of International tax law. Few world leaders want to change the laws because they all hide money in the system or are given large amounts of money by people who are.

it's so when he's paid in the Caymans, he doesn't have to then convert the money into GBP - i resent the implication that there's no legitimate reason you'd have a bank account outside your official country of residence.

in this example - why lose money transferring between GBP & dollars if you can just use a different account?

Panama Papers - America, fraud yeah! [UPDATE]Pakistani PM DQ'd from holding public office

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