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steve2470

(37,457 posts)
Thu Apr 4, 2013, 09:05 PM Apr 2013

Leak of Data on Offshore Account Holders Likely to Spread Fear and Anger

http://www.nytimes.com/2013/04/05/world/europe/vast-hidden-wealth-revealed-in-leaked-records.html?_r=0



BRUSSELS — They are a large and diverse group that includes a Spanish heiress; the daughter of the former Philippine dictator Ferdinand Marcos; and Denise Rich, the former wife of the disgraced trader Marc Rich, who was pardoned by President Bill Clinton. But, according to a trove of secret financial information released Thursday, all have money and share a desire to hide it.

And, it seems safe to say, they — and thousands of others in Europe and far beyond, in places like Mongolia — are suddenly very anxious after the leak of 2.5 million files detailing the offshore bank accounts and shell companies of wealthy individuals and tax-averse companies.

“There will be people all over the world today who are now scared witless,” said Richard Murphy, research director for Tax Justice Network, a British-based organization that has long campaigned to end the secrecy that surrounds assets held in offshore havens. The leaked files include the names of 4,000 Americans, celebrities as well as more mundane doctors and dentists.

It is not the first time leaks have dented a thick carapace of confidentiality that usually protects the identities of those who stash funds in the British Virgin Islands, the Cayman Islands, Liechtenstein and other havens. Nor, in most cases, is keeping money in such places illegal.

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Leak of Data on Offshore Account Holders Likely to Spread Fear and Anger (Original Post) steve2470 Apr 2013 OP
All I can say is Andy823 Apr 2013 #1
Oh, what a shame. Live and Learn Apr 2013 #2

Andy823

(11,495 posts)
1. All I can say is
Thu Apr 4, 2013, 10:20 PM
Apr 2013

It's about time!

I hope that this will force all the tax cheats around the world to pay up, and face any charges, and penalties that their home countries place on them. I also hope it encourages "ALL" countries around the world to put tougher laws in place to prevent people from hiding their money so they don't have to pay their taxes! The only way to stop tax evasion is to make the laws universal to prevent it.

I also hope that all the 4,000 names from the U.S. are made public, especially those members of congress, either party, who have been breaking the law while pretending to be actually working for the people of this country, but instead have only been doing whatever makes them richer.

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