Panama Papers: Hundreds of Israeli Companies, Shareholders Listed in Leaked Documents Detailing Offs

[bemildred]

Some 600 Israeli companies and 850 Israeli shareholders are listed in the leaked documents of Panamanian law firm Mossack Fonseca, a leader in creating shell companies that often serve to conceal ownership of assets.

The leaked files, which were obtained by the German newspaper Süddeutsche Zeitung and shared by the International Consortium of Investigative Journalists with Haaretz and other media organizations, provide a glimpse of the economy that until now had been hidden from the Israeli public.

There is a number of prominent names among the shareholders. It is important to note that as long as holdings in the companies and their revenues — if any — are reported as required to Israeli tax authorities, owning the company is not against the law.

Mossack Fonseca’s branch in Israel is headed by attorney Amir Maor. Callers to the branch are informed by a voicemail message that they have reached the offices of “The Company for Establishing Companies.”

http://www.haaretz.com/world-news/1.712497

[Warpy]

1. This is the first thread that, if pulled by the right people, will cause the whole shadow system

the rich, the crooked, and the dictators to hide much of their wealth from regulation and taxation to unravel.

That assumes the regulators aren't doing the same things to cover up their own theft.

[bemildred]

2. If what I read is correct, there have been 400 journalists working on this for a year.

In secret, and supposedly they are now going to release their findings. So stay tuned.

Dov Weisglas, the "put them on a diet" guy, was in there ...