The International Consortium of Investigative Journalists (ICIJ), a collaborative, global network of investigative journalists that published the Panama Papers data leak in 2015, has published a new trove of leaked documents that sheds light on the trillions of dollars moving through offshore tax havens.
Dubbed the Paradise Papers, the bulk of the documents come from Bermudan law firm Appleby. Files were also leaked from 19 corporate registries “maintained by governments in jurisdictions that serve as waystations in the global shadow economy,” according to ICIJ.
Appleby has offices in tax havens around the world. In addition to its Bermudan headquarters, it works out of places like the British Virgin Islands and the Cayman Islands in the Caribbean; the Isle of Man, Jersey and Guernsey off Britain; Mauritius and the Seychelles in the Indian Ocean; and Hong Kong and Shanghai.
Americans — companies and people — dominate the list of clients. Past disclosures, such as the 2013 “Offshore Leaks” from two offshore incorporators in Singapore and the British Virgin Islands, the 2015 “Swiss Leaks” from a private Swiss bank owned by the British bank HSBC and another leak in 2016 from the Bahamas were dominated by clients not from the United States.
The company has denied wrongdoing, claiming in a statement that it had “thoroughly and vigorously” investigated allegations that it helped the wealthy elite avoid paying taxes.
Read more here: nytimes.com
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