Panama Papers

davita

Whistleblowers have produced a document called 'The Panama Papers'. This shows how some famous leaders and celebrities in the world manage to squirrel ill-gotten money into secret off-shore accounts. Some of the names already noted are heroes and held in high regard! Early days yet but I predict this will be newsworthy when some of those people are revealed and I'd be interested if any Indonesian names emerge. If anyone sees this information, or other interesting information on this topic....please post.

geedee

davita wroteWhistleblowers have produced a document called 'The Panama Papers'. This shows how some famous leaders and celebrities in the world manage to squirrel ill-gotten money into secret off-shore accounts. Some of the names already noted are heroes and held in high regard! Early days yet but I predict this will be newsworthy when some of those people are revealed and I'd be interested if any Indonesian names emerge. If anyone sees this information, or other interesting information on this topic....please post.

Funny you mention this as I write ABC four corners program tonight investigating the rich and powerful who exploit the system with offshore accounts and companies right now BHP one of the companies being talked about.

davita

Sorry geedee but I searched for BHP and al I got was BHP Billiton a public company quoted on the NY stock exchange. Is that the BHP you refer. I was hoping that Trump's, or one of his associates, name would emerge then he can kiss his Presidential nomination goodbye...as will any of the other contenders. The Iceland premier? is already looking down the barrel of a gun. Putin is heavily alleged to be part of a conspiracy but he denies...just like he denied a Russian missile shot down the Malaysian aircraft (MH17) over Ukraine. According to news over 11 million documents have been leaked so more names to come.

Steve Rossell

FYI Davita, BHP used to be a huge Aussie mining,steel producing, exploration company. One of the largest in the world until a larger on called Billiton took them over. Now known as BHP Billiton.

davita

Steve Rossell wroteFYI Davita, BHP used to be a huge Aussie mining,steel producing, exploration company. One of the largest in the world until a larger on called Billiton took them over. Now known as BHP Billiton.

Thanks Steve...I'll be looking out on how they are implicated and how it affects their stock price....currently US$25.57...its top 52 week price was almost 50 bucks. As a public listed company I'm sure the Directors and Shareholders will also be interested.

tintin

Here some of the latest on the "problem" Panama Papers - All articles by SÃ¼ddeutsche Zeitung

Markit

This is gonna run and run - also interesting, in view of the struggling nature of most printed newspapers, that the files were shared amongst them months ago and that they are all coordinated in the expose now.... hmmm? Anyone know if the files themselves have been shared online - all 11.+ million?

davita

News from the report is that FIFA was heavily involved in these secretive financial deals, including their own ethics director...what a charade for the 'beautiful game'.....and a couple of legendary football giants also had their assets located in Panama. I was amused when hearing an advocate from Russia say "It's only a couple of billion dollars that has been reported as belonging to Putin's friend...the richest cello player in the world...that's a drop in the bucket!" edit: Just this moment heard from FranceTV24 that the collaberative investigative journalists (ICIJ) intend to post their findings on the internet soon...much like Snowdon released Wikileaks.

ronb

The leaked documents required 2.6 terabytes of storage - that's hundreds of memory sticks. The scale of this "leak" is mind boggling. It would be interesting to learn more about what security measures (or lack of them) Mossack Fonseca had in place. Wiki already has the Panama Papers listed (https://en.wikipedia.org/wiki/Panama_Papers). It reminds me of the enormity of the Sony Pictures security breach in 2014 (https://en.wikipedia.org/wiki/Sony_Pictures_Entertainment_hack)

geedee

Markit wroteThis is gonna run and run - also interesting, in view of the struggling nature of most printed newspapers, that the files were shared amongst them months ago and that they are all coordinated in the expose now.... hmmm? Anyone know if the files themselves have been shared online - all 11.+ million?

I hope it runs and runs and people go to Jail and companies get fines that nearly bankrupt them.Australian Tax office have got some deep in their sights(including an ex tax officer) But I have a feeling it will be big for a while then the Super Rich will go back to making themselves the mega super rich by hook and definitely crook

davita

I think the stories will only run if personalities, celebrities or power politicians are implicated by name. I don't think the average news-reader or TV-watcher is much interested in how big companies run their affairs....too complex and, who knows, maybe legitimate. If I'm right it would behove the ICIJ to dribble those names overtime....I'm guessing that lots of people are sweating buckets right now.

davita

It didn't take long for the ICIJ to release the Indonesian connections to the Panama Papers.... https://offshoreleaks.icij.org/search?country=ID&q=&ppl=on&ent=on&adr=on?utm_source=RD&utm_medium=inart&utm_campaign=khiprd Seems like the PM of Iceland is the first to fall on his sword over the Panama Papers...he just resigned. edit: Just noticed, from another website, that the above link may not be from the Panama Papers but from a data bank that the ICIJ have been updating over the years....so many names on that list may be legitimate businesses. Seems to me when they do release the actual Panama Papers, and indicate which ones are fraudulent, illegal money laundering and tax evading, we will see the sparks.

geedee

Sorry geedee but I searched for BHP and al I got was BHP Billiton a public company quoted on the NY stock exchange. Is that the BHP you refer. I was hoping that Trump's, or one of his associates, name would emerge then he can kiss his Presidential nomination goodbye...as will any of the other contenders. The Iceland premier? is already looking down the barrel of a gun. Putin is heavily alleged to be part of a conspiracy but he denies...just like he denied a Russian missile shot down the Malaysian aircraft (MH17) over Ukraine. According to news over 11 million documents have been leaked so more names to come.

I don't know if I totally agree with Steve and I could easily be wrong but I think it was more of a merger. There is a lot of stock owned by Australians and its head office is in Australia Australian pension funds own a lot of stock It is the worlds largest mining company. In Australia its nicknamed the Big Australian and this will interest you the boss is a Scotsman. https://en.wikipedia.org/wiki/BHP_Billiton But the bastards were involved in being negligent with deaths and destruction recently in Brazil where one of their dams burst and are not doing a great job with the villages and families whose lives jobs and businesses were destroyed. This was another ABC four corners investigation and they didn't appear to have enough empathy and weren't in a hurry to help these people. Now they appear to be big into this tax avoidance scam probably enough avoidance that you could build a new hospital. The Panama Papers: The files reveal the darker side of the BHP Billiton merger | afr.com .

Steve Rossell

p.s. No attack meant toward you davita, it just sometimes gets to me the whole holier than thou thinking. Australian companies/banks/ and even an anti cancer department are involved. Once again I say that it is wrong and immoral and unethical.

Steve Rossell

It didn't take long for the ICIJ to release the Indonesian connections to the Panama Papers.... https://offshoreleaks.icij.org/search?country=ID&q=&ppl=on&ent=on&adr=on?utm_source=RD&utm_medium=inart&utm_campaign=khiprd Seems like the PM of Iceland is the first to fall on his sword over the Panama Papers...he just resigned. edit: Just noticed, from another website, that the above link may not be from the Panama Papers but from a data bank that the ICIJ have been updating over the years....so many names on that list may be legitimate businesses. Seems to me when they do release the actual Panama Papers, and indicate which ones are fraudulent, illegal money laundering and tax evading, we will see the sparks.

Legitimate Buisness? As an old social conservative I ask the question, why would a succesfull and ethical business make an empty room, in a country without onerous tax laws, their Head Office? I know it's wrong, you know it's wrong and they know it's wrong. That's why they do it. But it's semi legal so it's alright...right? Discussion of corruption in Indonesia is a common thread in these pages, just remember the holier than thou issue when discussing. Whose not corrupt in your backyard?

davita

I introduced this thread so we can have a debate so please don't hold back Steve....but please chill...I suggest having a beer or a glass of wine or whatever is your poison. Don't want you in the hospital bed I recently vacated...:icon_e_biggrin: There are legitimate companies that use off-shore shelf companies...mainly multi-nationals or individuals in limbo (I formed one, to store assets, whilst waiting for immigration to Canada....it was created by CDN lawyers). The problem is when those jurisdictions abuse the system to evade taxation or hide ill-gotten gains. Tax evasion in most western countries is a criminal act. The 'panama papers' will expose those and most western countries like Iceland (already), Australia and UK will have an opportunity to charge those evaders and, as geedee wants, maybe send them to jail. I might not be alive when this is complete but at least hope to see some of the worst cases concluded. As others have said.....this story may have long legs but it is up to everyone to keep up the pressure. Trouble is....another more interesting story about the Kardashians will likely emerge and those facebookers, twitterers, etc will move on. Or....Brazil's Olympic stadium will collapse, or N. Korea blasts Seoul, or Indonesian corruptors will return their money during this latest tax amnesty bondoogle :icon_e_surprised:, or something else newsworthy..... and all focus will change.

Steve Rossell

All cool davita and I am not quite ready to occupy your vacated hospital bed. I have taken my liquid medication and am now more chilled. :icon_wink: Just as an aside.......I happened to be in Panama when the U.S. "extracted" Manuel Noriega. The U.S forces also blew up most of Panama City to do so and it still remains the only time that the Panama Canal was closed. Noriega was, at that time a popular though strong arm President and was alerting the U.S Gov' of the impending end of their 99 year lease held Stateside of approximately a mile either side of the Canal and ownership was going to change. That and the fact that he was about to spill plenty of beans about the Iran/Contra "affair" which you may remember put the likes of Colonel Oliver North and his handlers, which included a certain Bush family member, in major ****. Noriega had previously been on a U.S. payroll by way of Secret Mens Business that was headed by George Dubbyas dad. End result? Hundreds dead, millions spent, Noriega nullified and a subservient political bureaucracy developed. Panama Papers? Ravings of a loony? Check it out for yourself. Maybe too much liquid attitude adjustment for me this eve. p.s. I don't subscribe to conspiracy theories