Documents leaked from a Panamanian law firm reveal a global web of corruption

[unkown5454]

there are many people in this world far more dubious than anyone here

Panama Papers leak...



Documents leaked from a Panamanian law firm reveal a global web of corruption | TechCrunch

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[jeffweico]

And this surprises you?

[IGNAS]

State's mission is to collect as much tax $ as possible.
Individual's/company's mission is to collect as much $ for it's welfare (occasionally includes tax evasion).
And there's the conflict.

[rsot]

"A man, a plan, a canal, PANAMA!"

[Klemantina]

I'm sitting here in my 5 square meter apartment thinking to declare the 50$ i made for reselling a used laptop on gumtree, meanwhile some people successfully laundered 50 billion.

[MM78]

Originally Posted by Klemantina

I'm sitting here in my 5 square meter apartment thinking to declare the 50$ i made for reselling a used laptop on gumtree, meanwhile some people successfully laundered 50 billion.

There's so much money being laundered that if $10Mil went missing, they wouldn't even notice it.

[empirestate]

can't read the text, what language is this?

[yaBeh8ater]

anybody been to panama canal? furthest south i ever been was cozumel mexico, and a few other border cities during a cruise in 2004 and 2006.

[rsot]

Time for a forum trip for vast wealth...who's in?

[Klemantina]

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?

[Nookin]

This will be discussed for years and years to come. Welcome in history.

[swbluto]

Rich people trying to hide their money from the tax man? Utterly shocking. Don't say it's so.

[unkown5454]

the issue is not a revelation that tax ha.vens exist. nice attempt to try and look smart though.

[rsot]

Always some news to stir up drama.