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Paradise for money launderers

Paul Hodgson | November 21, 2017

Two offshore firms, 19 secrecy jurisdictions, 13.4 million files. The Paradise Papers follow the Panama Papers in the drive to expose the secrets of the global elite’s use of offshore tax havens and shell companies to avoid taxes and exploit anonymity.

The International Consortium of Investigative Journalists (ICIJ)and 95 media partners released the Paradise Papers, obtained by the German newspaper Süddeutsche Zeitung, exposing a combination of offshore service providers and the company registries of some of the world’s most secretive countries.

The documents include nearly “7 million loan agreements, financial statements, e-mails, trust deeds and other paperwork from nearly 50 years at Appleby, a leading offshore law firm with offices in Bermuda and beyond,” according to the ICIJ’s Website. In addition, files from a smaller, family-owned trust company, Asiaciti, and from company registries in 19 secrecy jurisdictions were also included in the cache. “The records...

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