The Pandora Papers’ Leak How the Super-Rich Shaft the Rest of Us

the Pandora papers, a massive leak of classified data about the illicit financial activities of the super-rich, will yield revelations for weeks and probably months.

The Pandora Papers company comprised 600 journalists from 117 countries and was founded by the International consortium of investigative journalists (ICIJ) in what they call the “greatest journalistic collaboration of all time”. (You can follow rolling releases at The Washington Post, the US partner in cooperation and at The guard, the UK partner.)

Five and a half years ago, the ICIJ published the Panama Papers, which focused on a leak from a single Panamanian law firm, Mossack Fonseca. According to Gerald Ryle, director of the ICIJ, the Pandora Papers are the “Panama Papers on Steroids”.

The Pandora leaks come from confidential records of 14 different offshore asset services companies in Switzerland, Singapore, Cyprus, Samoa, Vietnam, Hong Kong and asset managers in well-known tax havens such as Belize, Seychelles, Bahamas and the British Virgin Islands (BVI). These firms help high net worth individuals and corporations set up trusts, foundations, company formation, and other businesses in low or non-tax jurisdictions.

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