‘Hello. This is John Doe’: The mysterious message that launched the Panama Papers

[Babel_17]

https://www.washingtonpost.com/lifestyle/style/hello-this-is-john-doe-the-mysterious-message-that-launched-the-panama-papers/2016/04/06/59305838-fc0c-11e5-886f-a037dba38301_story.html?

Alternative, google search, link

It began with a message — anonymous, of course: “Hello. This is John Doe. Interested in data?”

The recipient, German newspaper reporter Bastian Obermayer , promptly responded that he was. What followed was almost unimaginable: “Doe” began forwarding files that ultimately contained 11.5 million documents, four decades’ worth of digitized records from a Panamanian law firm that specializes in setting up offshore companies for wealthy clients.

The Doe data dump to Obermayer and his colleague Frederik Obermaier in 2014 eventually triggered a unique cooperative project among journalists around the world. The effort culminated on Sunday when, in a coordinated release, dozens of news organizations began publishing stories about the Panama Papers. The vast cache outlines how world leaders, celebrities and individuals have used offshore companies to shield their wealth from public disclosure, and in some cases possibly to avoid taxes or mask illegal activity.

The first wave of stories — the disclosures could go on for years — has already led Iceland’s prime minister to tender his resignation over revelations of his offshore holdings. Among the thousands of people named in the documents are Ukrainian President Petro Poroshenko, King Salman of Saudi Arabia, Chinese President Xi Jinping’s family members, close associates of Russian President Vladi­mir Putin, British Prime Minister David Cameron’s late father, Ian, and soccer superstar Lionel Messi. The news reports prompted President Obama, among others, to call for international tax reform.

[840high]

1. kick

[ChiciB1]

2. YES, And ONE Reason We Aren't Hearing Much About America's Activities

is because THIS COUNTRY has tax havens of it's own. Two states that were mentioned on RT "Boom Bust" are Montana & South Dakota. And I believe New York too. Just heard it today and haven't had time to research much. George Soros's name came up in connection with this too today.

Alternative NEWS does report REAL NEWS. But I feel this country will be linked in at some time, just wonder when.

[appalachiablue]

3. US players are coming in a week or two per Thom Hartmann. Should be interesting..

[Gumboot]

5. We should have a sweepstake...

Everyone pick a bunch of Americans you think might be on the list - no prizes, just for fun!

Rush Limbaugh
Sean Hannity
Ted Turner
Peyton Manning
Dale Earnhardt Jr
Toby Keith
Carly Fiorina
The Bushes... all of 'em

Let the games begin!

[appalachiablue]

6. Sounds great, that will be one long list for sure.

[klook]

10. Mittens rMoney,

Newt the Grinch, numerous lobbyists, probably some newsclowns, et al.

Good time to buy stock in Orville Redenbacher.

[Katashi_itto]

11. Clintons

[Wednesdays]

14. Mark my words:

No matter how many Repugs are implicated (it can even be a ratio of 1000 to 1), the news will be ALL ABOUT the Democrats on the list!

[Major Hogwash]

7. There's a story on Wyoming and Nevada, where Mossack Fonseca has an office in Vegas.

Why Wyoming has star turn in the Panama Papers

So, what makes Wyoming a factory for the kinds of shadowy, secretive shell companies now getting fresh scrutiny because of the Panama Papers’ leak of millions of pages of international finance records?

Well, you can start by asking the company at the center of the Panama Papers scandal: Mossack Fonseca, which cites some of the reasons in what amounts to a sales brochure explaining to customers why Wyoming is an attractive place for them to create a new company or relocate one.

Among the "features" that Mossack Fonseca touts to potential customers about Wyoming in its marketing materials:

"Ownership is confidential and under state law may only be obtained by court order."

"Managers and members can either be corporate entities or natural persons," meaning it’s possible for a shell corporation to be formed in Wyoming without any individual person named in the corporate records.

"No requirement to file with the Secretary of State the name" of company managers or members, although the company’s registered agent — not the state government — must keep the information on file at its offices, and apparently those offices must be physically located in the state.

Nearly all of the 1,000-plus corporations that USA TODAY has so far identified as being created by Mossack Fonseca in the United States are "based" in two states: Nevada and Wyoming, two states with permissive corporate secrecy laws like those advertised by the firm in its promotion of Wyoming.

In both states, the publicly available information about many corporations is extremely limited – and in Wyoming may not necessarily even include reference to the fact that MF’s Nevada or Wyoming "offices" are the registering representative of the companies. Typically those entities listed as behind each company have addresses in Anguilla, Panama or other foreign countries.

"There is no information that they’re asking for that tells them who owns, controls, (or) works for … the company," said Heather Lowe, legal counsel and director of government affairs for Global Financial Integrity, a research group based in Washington. "It’s like a big black box they’ve created."

Wyoming records show a Mossack Fonseca-linked business registration operation was formed in the state in 2001, where it has also has served as registered agent. But Patricia Amunategui has testified in a Nevada court case in 2014 that she operates the Wyoming operation from MF’s Vegas location, a small office building about 20 miles from the Las Vegas strip. She refers to Wyoming as just another product offering for clients.

"If someone asks (for) a company in Nevada," she said, "l say why not offer them one in Wyoming."

The link is on MSN to the USA TODAY article.

[Kittycat]

8. Make it easy. Pick dual business targets. Clinton global, Trump hotel.

[drm604]

9. Here you go

"Panama Papers firm linked to over 1,000 U.S. companies"
http://www.usatoday.com/story/news/2016/04/05/panama-papers-firm-linked-1000-plus-us-companies/82670334/

The majority of U.S.-based companies linked to Mossack Fonseca were formed in Nevada by M.F. Corporate Services (Nevada) Limited, a one-employee company based out of a low-slung tile-roofed office building 20 miles from the Las Vegas strip. MF Nevada has served as the registered agent for 1,026 business entities since 2001, according to USA TODAY's review of Nevada business documents.

Publicly available information about many of the Nevada corporations is limited to the fact that MF Nevada is the registered agent and a listing of the officers. Many of the officers are businesses themselves — meaning no individuals are listed in corporate records — and typically have addresses in Anguilla, the Seychelles, Panama or another foreign country.

Nearly all of those companies were incorporated in Nevada and Wyoming, two states with permissive corporate secrecy laws.

[Babel_17]

13. I read a comment today that brought up Delaware

I just googled and saw this.

http://www.theguardian.com/us-news/2016/apr/06/panama-papers-us-tax-havens-delaware

One of the surprises about the Panama Papers – the largest leak from an offshore tax adviser in history – is how few Americans have so far been exposed. The reason? It may be because creating a shell company in the US is easier than obtaining a library card.

About 200 people with US addresses have so far been revealed as clients of Mossack Fonseca, the firm at the center of the Panama Papers leak. Compared with countries such as China, Switzerland, Russia and the United Kingdom, the number is small.

The anomaly may be because it’s so easy to create a vehicle to hide your money and your identity in the US that there’s no need to mess with Panama, according to Shruti Shah, vice-president of programs and operations at Transparency International, an anti-corruption organization.

“You don’t really have to go to Panama or other tax havens. They are not the only ones making it possible for corrupt officials and other criminals to launder their money. You can do it in every state in the US,” explained Shah.

[SCVDem]

4. Does anyone possibly think

that there are liquid assets to 'cash out' all these accounts?

The markets would likely crash.

It's time for a worldwide 'peasant' revolution.

This goes way beyond income inequality and I see it as giving us all the finger.

I am sure that if our President was on that list, it would already have been used against him.

What's the over/under on Mitt?

[Babel_17]

12. Panama Papers Leak Casts Light on a Law Firm Founded on Secrecy (The New York Times)

http://www.democraticunderground.com/10027743670#post1

The New York Times, according to their Public Editor, was not in the loop for this story, and wanted to take their time publishing their interpretation of the facts. http://publiceditor.blogs.nytimes.com/2016/04/04/why-no-big-splash-for-panama-papers/

Well, now they have written their initial first take.

http://www.nytimes.com/2016/04/07/world/americas/panama-papers-leak-casts-light-on-a-law-firm-founded-on-secrecy.html

MEXICO CITY — The two men came together in an era of political and economic uncertainty in Panama: One a reserved German immigrant whose father served in the armed wing of the Nazi party, the other a gregarious, aspiring novelist whose family opposed Panama’s military dictatorship.

With the nation still under the sway of Gen. Manuel Noriega, the pair merged their small law firms in 1986, creating what would become a powerhouse of secretive offshore banking for the elite. Over the next three decades, Jürgen Mossack and Ramón Fonseca expanded their practice to a staff of 500, with affiliate companies around the world and a client list of the powerful, the famous and, sometimes, the infamous.

In January, a prosecutor investigating the sweeping corruption in Brazil publicly called their law firm “a huge money launderer.”

The partners had become very wealthy, and Mr. Fonseca leveraged the firm’s success to gain an influential role in the upper ranks of politics. He told associates that he wanted to clean up the government, serving as a special adviser to President Juan Carlos Varela until the corruption scandal in Brazil forced Mr. Fonseca to resign this year.

In an interview, he said that entering politics was, in part, a way of giving back. “I believe in sharing the pizza,” he wrote. “At least to give others one slice.”

They've also released an editorial.

http://www.nytimes.com/2016/04/06/opinion/the-panama-papers-sprawling-web-of-corruption.html?ref=opinion

The first reaction to the leaked documents dubbed the Panama Papers is simply awe at the scope of the trove and the ingenuity of the anonymous source who provided the press with 11.5 million documents — 2.6 terabytes of data — revealing in extraordinary detail how offshore bank accounts and tax havens are used by the world’s rich and powerful to conceal their wealth or avoid taxes.

Then comes the disgust. With more than 14,000 clients around the world and more than 214,000 offshore entities involved, Mossack Fonseca, the Panama-based law firm whose internal documents were exposed, piously insists it violated no laws or ethics. But the questions remain: How did all these politicians, dictators, criminals, billionaires and celebrities amass vast wealth and then benefit from elaborate webs of shell companies to disguise their identities and their assets? Would there have been no reckoning had the leak not occurred?

And then the core question: After these revelations, will anything change? Many formal denials and pledges of official investigations have been made. But to what degree do the law and public shaming still have dominion over this global elite? A public scarred by repeated revelations of corruption in government, sports and finance will demand to know.