| Klemantina | 04-05-2016 09:33 PM |
Re: Documents leaked from a Panamanian law firm reveal a global web of corruption
One guy registers a company on one of those islands that doesn't cooperate with tax offices in various countries because they make % out of the transfers.
Then the smart guy calls rich people and offering them to transfer huge profits to the companies under his name and makes them sign a paper that basically says "if we get caught, it's your problem, not mine" so the rich guys instead of paying to their government, paying smaller % to this smart guy. Now the only thing that might get wrong is if data leaks or if the specific island signs an agreement with your government.
So to make it more complicated they just transfer the money to even more islands to lower the risk but they probably paying more %.
Now the docs leaked and many people got caught and they will probably pay a fine or get a small sentence in jail. Except the ones that ran to hide in a different country or those who wrote their wealth under a cake name or other person.
Did I get it right?
Can someone summarize that for me? | 
