By Linette Lopez, Business Insider

One thing’s for sure — no one knows where all the world’s money is.

It can be tucked away in investment vehicles, funneled through holdings companies, sheltered in tax havens… we’ve heard the stories. It’s a huge problem for governments.

To better understand the gravity of this situation, journalists from The Guardian, Huffington Post, The BBC joined the International Consortium of Investigative Journalists in sifting through thousands of documents about tax shelters, who owns them, and how they work. You can see the full result over at Huffington Post at http://www.huffingtonpost.com/2013/04/03/offshore-companies-politicians_n_3008426.html

The investigators found staggering names and numbers. There are politicians, wanted fraudsters, royals, and heads of dynasties on the list.

They use companies like Singapore-based Portcullis TrustNet and BVI-based Commonwealth Trust Limited (CTL) to help them set up offshore investment vehicles.

What it all drives home is that this is something that is done. James R. Mellon (of the Mellon banking dynasty) put it this way:

“I just heard of a presidential candidate who had a lot of money in the Cayman Islands,” Mellon, now a British national, said alluding to former U.S. presidential candidate Mitt Romney. “Not everyone who owns off shores is a crook.”

There’s a thought.

For more on this story go to:

http://www.businessinsider.com/rich-people-that-use-tax-havens-2013-4?op=1#ixzz2PauxiD5V

Named: Imee Marcos, a Philippino Provincial Governor, Russian Deputy Prime Minister Igor Shuvalov’s wife, Olga, Baroness Carmen Thyssen-Bornemisza, Commodity trader Marc Rich and wife Denise, James R. Mellon of the Mellon banking dynasty, Bayrtsogt Sangajav, The Deputy Speaker of Parliament in Mongolia, Mukhtar Ablyazazov, a Kazakh banking oligarch, Thailand’s International Trade Representative, Nalinee Joy Taveesin, Muller Conrad “Billy” Reutenbach, a Zimbabwean businessman and Think they’re not greedy? Try this guy…

Think they’re not greedy? Try this guy…

Meet Ivan Boesky, The Infamous Wall Streeter Who Inspired Gordon Gekko>

For more go to:

http://www.businessinsider.com/rich-people-that-use-tax-havens-2013-4?op=1#ixzz2PawIZkte