December 2, 2023

UK: We can’t rely on leaks to enforce tax policy. Labour will crack down on havens

By Andrew Leigh From The Guardian UK The Paradise Papers show why Labor’s policy to force companies to report their use of tax havens is so necessary Another day, another leak showing dodgy dealings in tax havens. The so-called Paradise Papers, a leak of 13.4m files from two offshore service providers, reveal tax avoidance by […]

Panama Papers-style leak may follow breach of offshore law firm Appleby

By Bradley Barth From SC Magazine An offshore law firm representing wealthy clientele suffered a data breach earlier this year that reportedly is preparing for its sensitive financial information to be publicly leaked, in an incident similar to the 2015 Panama Papers case. According to a report in the The Telegraph, the exposed information could place […]

Adcock Private Equity sues Stephen Porges and wife over Caribbean share dispute

By Vesna Poljak From Financial Review The former boss of Aussie Home Loans, Stephen Porges, is being sued by private equity firm Adcock over a soured deal where he is accused of making false links to the Panama Papers scandal to stall a share transfer. Mr Porges is fighting the allegations, and further claims that […]

‘Solid case’ exists in bribery scandal against Panama Papers law firm

By Will Fitzgibbon From Caribbean News Now PANAMA CITY, Panama (ICIJ) — Mossack Fonseca, the law firm at the heart of the Panama Papers affair, sold shell companies and held bank accounts that were used to help conceal bribes paid across South America, a Panamanian prosecutor alleged at a press conference last Thursday. Rómulo Bethancourt, […]

Canada’s role in ‘snow washing’ money to evade taxes

By Martin Kenney From Our Windsor Ca Mossack Fonseca’s office in the British Virgin Islands drew global attention, but the offshore financial centres in Cayman, Scotland, Canada and most notably in the U.S. are not perfect either Canadians should be concerned that our good name is being used to add credibility to companies and individuals […]

Why are the ‘Panama Papers’ a big deal?

By KUANG KENG KUEK SER From KERA NEWS By now you’ve probably heard of the “Panama Papers,” the name bestowed on a massive database leaked from a law firm based in Panama. The leaked documents show that the company, Mossack Fonseca, helps its clients set up offshore shell companies, some of which are allegedly linked to […]

Panamanian organised crime prosecutor obtains extension in Panama Papers law firm investigation

By Kenneth Rijock From Caribbean News Now PANAMA CITY, Panama — Javier Caraballo, the lead organised crime prosecutor investigating Panama Papers law firm, Mossack Fonseca, since April 2016, has obtained an extension of time in which to continue his ongoing investigation of alleged criminal conduct at the firm. He has requested judicial assistance from 16 […]

How the wealthy untie the knot

By Jamie Robertson Business reporter, From BBC News As Brad Pitt and Angelina Jolie are no doubt finding out, divorce is painful – and expensive. While the pain is the same for rich and poor, the expense, for the rich, can be a lot, lot greater. The numbers are eye-watering, from estimated £600 an hour […]

Panama Papers: Denmark to buy leaked data

From BBC Denmark will buy data leaked from the law firm at the heart of the Panama Papers scandal, Taxation Minister Karsten Lauritzen has announced. An anonymous offer to sell data involving up to 600 Danish citizens was made to the tax authorities over the summer, he said in a statement. “We owe it to […]

US prosecutors investigate Panama Papers law firm employees

NEW YORK, USA — US federal prosecutors have reportedly launched a criminal investigation into whether employees at Mossack Fonseca, the law firm at the centre of the “Panama Papers” scandal, knowingly helped clients launder money or evade taxes. Mossack Fonseca has been in the global spotlight since early April, when a consortium of journalists published […]