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The Panama Papers: of shell companies and tax evaders

Tom Fox | June 6, 2016

One of the more prescient authors I know is Ryan Hubbs, a senior manager of fraud investigation and dispute services at EY, who in 2014 wrote an article for Fraud Magazine entitled, “Shell Games." In this piece, Hubbs wrote about how criminals use shell corporations to launder money and perpetuate frauds such as violations of the Foreign Corrupt Practices Act. He explained what shell companies are and how certified fraud examiners could assist companies in internal investigations around these issues. His prescience was foretelling the release of the Panama Papers.

This prescience is also seen in an article on Monday in the New York Times, entitled, “Documents Show How Wealthy Hid Millions Abroad."  In this piece it detailed how the Panamanian law firm Mossack Fonseca offered a how-to... To get the full story, subscribe now.