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Why Russia No Longer Fears the West: It's the Offshore, Stupid
March 4th, 2014
This post originally appeared on the blog of Tax Justice Network, a Coordinating Committee member of the Financial Transparency Coalition.  If there’s one story you read today make it this one, from Politico Magazine. It’s triggered by the crisis in Ukraine, but it’s been a long time coming. The point of this short story is clear:
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Quartz: German Shell Companies in Panama, and the Hacker who Helped Expose It
March 22nd, 2013
Just yesterday the German newspaper Suddeutsche Zeitung published the names of wealthy Germans who are listed as company directors in the well-known tax haven of Panama. An article entitled “Germany’s offshore money and the hacker who helped expose it” by Tim Fernholz at Quartz explains the details and the implications. Among the names were some of the richest German families that include the automaker Porsche, the coffee king Jacobs, and the banker von Fink. While some families claimed they knew nothing, that argument holds no water in a tax haven such as Panama. These names...
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Ghostbusting: phantom firms and dodgy deals
March 21st, 2013
Phantom Firms are what enabled Teodorin Obiang, the son of the President of Equatorial Guinea, to launder more than $100 million into the USA. This financed a playboy lifestyle of fast cars, a $30 million mansion, a $38.5 million gulfstream jet, and various pieces of Michael Jackson memorabilia, including a diamond-encrusted glove from the Bad Tour. Meanwhile, back home in the oil-rich west African state, more than 1 in 7 children under the age of five were dying from a preventable disease.
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