Investigation Reveals Trillions Hidden in Tax Havens

“32 trillion”… They’ve poisoned the global economy.”

Investigation Reveals Trillions Hidden in Tax Havens

Bill Black: An international collaboration of investigative journalists has released the names of wealthy individuals stashing as much as three times the American GDP in tax havens 2013-04-05

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=10017

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Secret Files Expose Offshore’s Global Impact

By Gerard Ryle, Marina Walker Guevara, Michael Hudson, Nicky Hager, Duncan Campbell and Stefan Candea April 3, 2013, 6:00 pm

Government officials and their families and associates in Azerbaijan, Russia, Canada, Pakistan, the Philippines, Thailand, Mongolia and other countries have embraced the use of covert companies and bank accounts.

The mega-rich use complex offshore structures to own mansions, yachts, art masterpieces and other assets, gaining tax advantages and anonymity not available to average people.

Many of the world’s top’s banks – including UBS, Clariden and Deutsche Bank – have aggressively worked to provide their customers with secrecy-cloaked companies in the British Virgin Islands and other offshore hideaways.

A well-paid industry of accountants, middlemen and other operatives has helped offshore patrons shroud their identities and business interests, providing shelter in many cases to money laundering or other misconduct.

Ponzi schemers and other large-scale fraudsters routinely use offshore havens to pull off their shell games and move their ill-gotten gains…

Dozens of journalists sifted through millions of leaked records and thousands of names to produce ICIJ’s investigation into offshore secrecy ­

/r2/?url=http://www.icij.org/offshore/secret-files-expose-offshores-global-impact

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