An expose from The Washington Post — titled the Pandora Papers — exposes a secret offshore financial system for global elites. The papers document an opaque financial universe shielding the super-rich from taxes, criminal probes, and public accountability.
Caveat: The Post is a corrupt far-left paper so be careful. They hope to drive the hate the rich mentality as an excuse for taxing us to death. Also, these offshore accounts have existed for more than a hundred years.
That being said, we included some excerpts here since it’s behind a paywall:
The revelations include more than $100 million spent by King Abdullah II of Jordan on luxury homes in Malibu, Calif., and other locations; millions of dollars in property and cash secretly owned by the leaders of the Czech Republic, Kenya, Ecuador, and other countries; and a waterfront home in Monaco acquired by a Russian woman who gained considerable wealth after she reportedly had a child with Russian President Vladimir Putin.
Other disclosures hit closer to home for U.S. officials and other Western leaders who frequently condemn smaller countries whose permissive banking systems have been exploited for decades by looters of assets and launderers of dirty money.
The files provide substantial new evidence, for example, that South Dakota now rivals notoriously opaque jurisdictions in Europe and the Caribbean in financial secrecy. Tens of millions of dollars from outside the United States are now sheltered by trust companies in Sioux Falls, some of it tied to people and companies accused of human rights abuses and other wrongdoing.
Stories seem to focus on the evils of trusts and loopholes. It sounds agenda-driven. Stories tomorrow will more closely explore U.S. aspects of this system, including the harm caused by U.S. tax havens and how Americans accused of wrongdoing can escape financial consequences by using offshore entities.
Hmmm…
It looks like some of the Left’s worst guys are in the clear:
The United States’ wealthiest citizens — including Amazon founder Jeff Bezos, who owns The Washington Post; Tesla founder Elon Musk; Microsoft billionaire Bill Gates; and billionaire investor Warren Buffett — do not appear in the documents.
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