Americans show up in the Panama Papers, too

Looks like some Americans are in fact involved in the famous "Panama Papers" exposures.

None appear to be politicians however (yet).

They seem to be people involved with financial criminal activities like Ponzi Schemes etc.

The names are not all that familiar, but the numbers sure make an impact on the whole tax thing.

Can't wait for well known politicians to get "named".


Americans show up in the Panama Papers, too

The passports of at least 200 Americans show up in this week’s massive leak of secret data on secretive offshore shell companies.

Given the high-profile nature of some of the foreign names in the leaks – close associates of Russian President Vladimir Putin were seen moving more than $2 billion through shell companies – many of the Americans may seem like small fish.

In four separate cases, the law firm Mossack Fonseca helped register offshore companies for Americans who are now either accused or convicted by federal prosecutors of serious financial crimes, including securities fraud and running a Ponzi scheme.

Lots of burning fires all over the place with this scandal.

a reply to: xuenchen
Politicians will be next, I hope.
Maybe there is some Clinton Foundation money in there???

Don't the Clintons have some offshore accounts?

I believe Bloomberg found there were three.
BTW: Look to see if the name 'Ron Burkle' surfaces in the Panama Papers.

The Panama papers are from one financial legal company in one Tax haven country.

It's merely the tip of the iceberg.

a reply to: IAMTAT

Hillary is not named directly, but there are connections to her.

HC ties to panama

originally posted by: butcherguy
a reply to: xuenchen
Politicians will be next, I hope.
Maybe there is some Clinton Foundation money in there???

You mean some of that $6B that went missing when She was the Head of the State Department and nobody cared because of some forwarded e-mail fart jokes??? The $6B could actually do something but because everybody in the game of politics has an EGO as large as the Lincoln Memorial, nothing gets done and these people end up spending up to 75% of their time while there trying to get re-elected.

Now $2B has shown up into the Clinton Fraudation™ but that was supposed to have come from the Saudi Roi, Her "Puppet Masters".

The $6B grew wings right around the same time as the "e-mails" (SMOKE SCREEN)

The more legs this thing grows I'm going to go out on a limb and type that this is a "Screw You Then type deal" this occurs when somebody knows something and they think that they are part of the 'clique' but it turns out they are actually a Lee Harvey in-training, so they do a data dump.. Someone thought they were "in" and they really weren't, so SCREW YOU!!

Who is going to keep track of the d.b.s? (dead bodies) Now, if a bunch of these folks get bumped off and NO INSURANCE is paid out then will You believe the game is rigged????

namaste

a reply to: xuenchen

I think what should be kept in mind here is that there are three classes of individuals/corporations who will be found on this (and other) lists.

1) People who are trying to hide money received from illegal enterprises (money launderers and other sorts of criminals)
2) People who are evading taxes in their home Countries (which is illegal)
3) People who are avoiding taxes by arranging their affairs in such a way as to minimize taxes that need to be paid at home and abroad (which is entirely legal)

I have found it laughable, quite frankly, over the last day or so to listen to the hysteria surrounding these revelations, when it has been extended to named individuals who are found to be operating in "Zones 3".

Well, it may be legal...but, but...it is immoral, is the outcry I have heard.

Poppycock!

If a tax treatment is legal (whether a so-called loophole or not), it is only smart business/personal practice to limit one's overall tax liabilities.

If Government(s) feel they are being denied certain tax revenues they should be entitled to, they can always change their tax laws - but should do so understanding that we all live in a Global Financial Community, and the most affluent will always gravitate toward jurisdictions that have low/fair levels of taxation.

The U.S. has the highest corporate tax rates in the world...and so many U.S. Corporations have chosen to relocate their HQs/Operation to jurisdictions with lower tax rates. France wanted to tax its wealthiest citizens at up to 95%...they just started moving themselves, and their money, out.

International conventions are possible, to limit or eliminate so-called tax havens - but where they don't exist, you can't blame people who want to legally keep more of their own money away from the Bernie Sanders' of the world.

a reply to: xuenchen

Here's a razor keen analysis on why only 211 Americans have turned up the data so far. They jumped ship and moved their assets to state-side havens, or operate through international proxy companies.

Americans may have figured out a way to add another soft party who has a different nationality or identity. Let’s say [Mossack Fonseca] had a lot of American account holders or clients. It took [the U.S. Foreign Account Tax Compliance Act] over five years to get into place, which gave everyone plenty of time to close accounts and move their money—open up new corporations that didn’t look like they were held by Americans...

What should be one of the more shocking aspects of the documents is that Mossack Fonseca had a subsidiary to create American offshore corporations in Nevada, and it is a fact that the U.S. government has been talking about on and off over the years, about forcing U.S. corporations to disclose their beneficial ownership. It is a depressing fact that several administrations now have refused to make that a requirement… What’s happened is, some of the sleaziest offshore lawyers are now using American corporate shells to hide foreign corrupt activity. You’d think – you’d hope — that the U.S. government would crack down on this and do the right thing to force people to make public the beneficial ownership of corporation.

fusion.net...