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VOA | Monday November 6, 2017
'Paradise Papers' Reveal Inner Workings of Elite Tax Havens
Media organizations across the world revealed a massive leak of millions of financial documents Sunday that outlined the elaborate steps taken by elite politicians and other wealthy individuals to shield their wealth from tax collectors. The leak, which has been dubbed the Paradise Papers, contained more than 13 million files taken mostly from a single Bermuda-based legal services company, Appleby. The files were initially leaked to the German newspaper Sueddeutsche Zeitung, which then shared them with around 100 different media outlets affiliated with the International Consortium of Investigative Journalists (ICIJ). The disclosures date back as far as 70 years ago and show the murky, but mostly legal, ways in which some of the biggest names in politics and media protect their wealth through various offshore schemes. So far, the documents have revealed how millions of dollars' from the Queen's private estate wound up in a Cayman Islands fund, numerous offshore dealings by high-ranking members of President Donald Trump's cabinet and shown how Russian state financial institutions invested millions of dollars in Twitter and Facebook. Also implicated in the Paradise Papers is...Read more