The
Panama Papers
(and
BVI Offshoots)
The
Master Lists
Global
Terrorism in the Cyber-Technological Age
Since
9/11 the U.S. Treasury and IRS in cooperation with the governments
of what are known as offshore 'tax havens' has been formulating a
policy to ensure that the likelihood of a transfer of finance for
terrorist or illegal purposes has been considerably reduced.
Most
individuals who have liquid assets exceeding $10m U.S. also have
access to good accountants.
In
addition to this the Banks themselves and other providers of
financial services which service their high-value clients were also
keen to ensure that future business with such entities is not
adversely affected through changing legislation.
Significant
reporting changes have taken place in the offshore banking industry
as a result of 9/11.
The
changes were formulated in 2002 and hit the shores of Great Britain
by 2005. Until around 2005 banking secrecy in the Channel Islands,
Guernsey and the Isle of Man made it impossible for the IRS or the
British Inland Revenue to even find out who owned what. Banking
secrecy was still, in effect, almost absolute.
Most
of the changes became law from 2015-2016 worldwide making any
offshore tax haven a 'terrorist' blacklisted country unless it
implemented radical reporting changes to give the IRS full access to
every account which any
U.S. citizen had.
For
this reason many offshore tax havens stopped taking U.S. clients in
the forlorn hope of avoiding U.S. reporting requirements. The
international laws however kept piling up making it difficult to
maintain client confidentiality.
The
same was happening Stateside as the IRS was reigning in those firms
and entities who used offshore facilities worldwide to evade paying
any taxation (tax evasion is illegal.)
As
their offshore tax havens disappeared one by one global conglomerates
(worth $ billions) sought innovative structures to retain their tax
exemption or tax liability free status. In other words, they did not
want to pay any tax at all – by finding a domicile (country) where
it was possible to pay the minimum amount of tax – a small fraction
of what they would be liable to pay if registered in the United
States.
Exodus
Before
the law changed, major Banks and accounting firms which serviced
their high-value clients (clients with disposable investment income
of $5-$10 million dollars to hundreds of millions of dollars) were
scrupulous to make them aware of the changing legal reporting
environments.
It
was around this time and before the new laws became effective, that
the last of the entities which utilized services in Panama for, lets
say, purposes which might result in a Senate Select Committee
Investigation, exited Panama, never to return.
So
Panama (Panamanian financial and advisory firms) began to source a
new type of offshore client from about 2006-2008.
High
value clients were advised either to make declarations to the IRS
about their Panama holdings or (and this was favored by most non-U.S.
citizens) to seek a new offshore jurisdiction. It was possible (and
quite legal) to do this because most offshore tax havens agreed time
deadlines whereby the new reporting requirements would come into
effect and the reporting rquirements and penalties of their
respective home countries were not as draconian as those imposed
under the new powers the IRS was given by the U.S. Federal
government.
Some
tax havens, like Lichtenstein, Monaco, Switzerland, Cayman Islands,
for example, were treated more favorably than others. The benchmarks
were set by the IRS.
All
such agreements were highly publicized within the financial and legal
communities worldwide.
Is
Offshore Banking Illegal?
Do
not believe what your mainstream media tells you about offshore
banking.
More
than 95% of all offshore bank accounts are totally legitimate and, at
least since 2012 most were opened to avoid high taxation elsewhere
(perfectly legal) to benefit from foreign currency exchange rates, as
security in an uncertain world (it is estimated that more than 50% of
all Saudi nationals have offshore bank accounts) to register
companies engaged in global trade and investment.
There
are an endless myriad of legitimate (i.e. perfectly legal) reasons
wealthy individuals might choose to open an offshore bank account.
I
Too Want My Piggy Bank Account In The British Virgin Islands! (BVI)
There
is no law to stop anyone doing exactly this – and we would be doing
nothing illegal having our humble piggy bank accounts in, say, the
Cayman Islands or India, or China or South Africa or Brazil, provided
we went about it the right way, fulfilling all local legal conditions
and set up the right structures to satisfy the IRS, your local
revenue (Taxation) Bureau or Department and the offshore country's
legal accounting and reporting requirements - which they must have to
satisfy international laws.
(The
huge fees involved and annual servicing costs would, however, make
such a new bank account impractical and too costly for most of us.
Besides why open an account in Panama when you can open one on your
local Main Street? For the average person, it simply makes no
sense.)
Who
Else Knows I Have A Panama Bank Account?
The
governments of all offshore tax havens have mutual (reciprocal)
international agreements in force to share data with a clients home
country on request.
(Its
the equivalent of an International Arrest Warrant: once a request for
a clients financial data is received, it must be actioned with
immediate effect by the offshore tax haven. The same applies if the
tax haven country requests information about a client or entity from
its home country.)
So
even before the release of the Panama Papers, the IRS and Revenue
Departments worldwide, by international agreements, have more than
enough powers to request information about their citizens holding
offshore bank accounts, securities or other assets.
After
reading the above you might be slightly puzzled and be saying to
yourself: 'if this is indeed the case as he says, then what's all the
fuss about?'
KYC
Since
9/11 the banking industry worldwide implemented new training
procedures – KYC – (know your client) so that managers could
assist in identifying who owned which account – even dormant
accounts. All such information was carefully compiled worldwide,
starting with your local bank, and fed through to processing centers
– not direct to the U.S. Treasury nor the IRS.
Ironically,
new 'offshore' (outsourced) 'entities' (bank processing centers) were
'created' by the banking sector itself to circumvent local
legislation which might prevent the transmission of confidential
information about clients outside legal jurisdictions (such as, for
example, outside the territorial jurisdiction of the European Union.)
Loopholes were left in national and international legislation to
ensure the smooth processing of a clients confidential data –
sometimes via half way around the world. A processing
center might be located in India, South Africa, Singapore, or
Malaysia.)
Again
there was nothing illegal about this. If you weigh up 9/11, anthrax
attacks and the likelihood that terrorists would attempt to 'buy'
weapons grade fissile materials or nuclear components, utilizing
anonymous offshore accounts, then you can appreciate the fact that
the U.S. was not going to be subjected to another 9/11 and all
efforts were being taken to secure itself (and its allies) from such
potential (and very real) threats worldwide.
9/11 and
It's Aftermath
I
want to return briefly to 9/11 because of the profound effect it has
had worldwide.
The
day this event took place I was laying a carpet in my Moms bedroom
(the room she stayed in when visiting.)
I
received a call from a friend to say that a terrorist attack was
taking place in New York. It was such an incredible thing to hear on
a quiet early afternoon (where I was) that I think I initially
cracked a joke. My caller himself was a scientist and he had a 'gut
instinct' about what was happening even before it was fully
comprehended worldwide.
9/11
was a wake up call not just for America but hopefully for Russia, for
China and for more vulnerable countries worldwide.
Do
Terrorists Use Of International Banking Structures Pose A Credible
Threat To Global Security?
In
my personal opinion so many wealthy Saudi citizens support Wahhabism
and Salafism - which gave birth to Al Qaeda and ISIL/Daesh – that I
would want to know the background of clients whose accounts I was
managing in an offshore country today.
I
too have learnt a few things from 9/11– one of which is never
underestimate the creative potential and abilities of terrorists.
I
have absolutely no doubt that they (potential Jihadi terrorists) have
infiltrated banking sectors, governments and NGOs in the U.S. ,
Europe, across India, Asia and Africa.
In
my opinion, a prime target for a terrorist sleeper cell would be the
outsourced banking center of a major European or U.S. bank located in
the Third World. With fairly basic equipment, terabytes of data -
names, addresses, bank details and other confidential and security
information - could be transferred to Daesh or some future terrorist
group at the stroke of a keyboard.
The
Future of Terror
(The
Shape Of Things To Come)
To
you and me a dormant offshore bank account is exactly that –
lacking or awaiting funds and in suspended animation. To a terrorist that same dormant account
might be a potential vehicle to use to pay for, say gene splicers.
or the purchase of pieces of genomes - short pieces, to be linked
together (synthesized) into larger and more complex structures, all
very easy to purchase.
Consider
the following: With the assistance of an insider (a sleeper) to
ensure that the dormant account is 'quietly' activated, equipment and
genes are bought to be shipped to a 'ghost' address.
When
this one action has been completed the account is returned to its
dormant state – and all this has happened without the legitimate
account holders knowledge. (indeed the dormant account holder might
be dead and even though the offshore bank quarterly or bi-annual
statements reflect what has taken place, they are of little
relevance.)
Generals
and Politicians Both Prefer If Others Die For Their Mistakes
There
is a saying that generals and politicians are 'always fighting the
last war.' I have, in the course of my lifetime, met many of these
naive individuals and not only would I agree with that statement but
go much much further and assert that the 'corrupt' politics of today
lends itself even more to a lack of focus on preventative planning
and more on immediate wealth accumulation together with fiscal
constraints on emergency planning and proactive countermeasures for
systems and infrastructures about which they have, in the main, very
limited (if any) knowledge.
For
example, while there are systems in place to detect a bioterror
attack at the macro level, the microsystems levels are fair game to
the terrorist since most, because of their vastness, are impossible
to protect in their totality and thus are open for exploitation.
Counterterrorism
Is As Much About Intelligence As It Is About Identification Friend or
Foe.
So
it is with such issues in mind that the vast majority of illegal and
criminal accounts which might have been affected by new international
reporting requirements vacated Panama, leaving, on the whole, those
like Premier Cameron's late father, like friends of President
Vladimir Putin, who (may have or had) legitimate reasons for acting
as powers of attorneys, trustors for 'anonymous' beneficiaries,
representing entities which were compliant with local laws.
The
fact that we might not like the tax laws in the Russian Federation or
that they (offshore , settlors or entities) have failed in the matter
of full disclosure to their respective tax authorities at home, is
not the fault of Premier Cameron or Putin so long as they are not the
known legal beneficiaries. British Premier Cameron has already said
that he was a beneficiary from an entity set up by his deceased
father and, whether you like it or not, was in compliance with the
law of the country he currently stewards as Premier – the United
Kingdom.
All
The Presidents Men (and Women!)
None
of the released Panama Papers show any direct link with President
Putin. The fact that the media have chosen to allure allege imply or
whatever else you want to call it does not represent the actual
facts.
But
anyone who reads or listens to – and believes - mainstream media's
Daily
Mirage
worldwide is in serious need of medical assistance(!)
This
cannot be said of other beneficiaries.
All
Money Trails Lead To Putin (!)
(And
That's a Fact!)
President
Putin does not even feature as a beneficiary – perhaps to the
annoyance of some - anywhere in the 'Panama Papers'.
There
may be more to be released but nowhere has the ICIJ provided any
categorical proof that Vladimir Putin's name can be found either at
the HQ of Mossack Fonseca - or anywhere else in Panama or anywhere
else in the Caribbean for that matter.
Even
if he (or his family) is a beneficiary somewhere down the line,
unless someone can provide the evidence, the case is just as flimsy
as that evocated against British Premier Cameron.
A
particular investigative analysis by Luke Harding of The British
Guardian Newspaper (see reference section) provides excellent links –
but when you look at the evidence provided that is what they all turn
out to be – associates, friends, friends of friends, but, sadly,
not President Putin.
Nowhere
is there any evidence of President Putin being a direct beneficiary
nor
has his name (or that of his Dad's!) been found on any bearer bonds,
securities or any other asset documentation held by Mossack Fonseca
in Panama.
The
general public, however, will, more likely than not, miss this small
(insignificant) detail in the 'rush to judgement' which the data
invariably lends itself to – with regard to individual
interpretation and decisions on which links are, or are not,
relevant.
Ethics
and Morality:
The
issues of ethics and morality are different topics which I will not
bore you with here. Having said that, it is on these latter issues
that a section of the public have expressed 'moral' outrage in the
United Kingdom.
Unlike
the Russian Federation, the United Kingdom is an open society where
higher standards of transparency are expected - especially from
individuals in public life - and the Prime Minister's Office is seen
as exemplifying the pinnacle of such ethos and principles in public
life.
If
Premier Cameron is to be criticized for anything it is the fact that
he did not sit down with his accountant or financial and legal
advisors before issuing any public statement on so private and
personal a matter as 'family business' - now made public.
Again
(and similar to my treatment of Putin above) other than moral
opprobrium, there is no 'evidence' produced by Russia Today or
any other media network by which the general public should believe
Premier Cameron has acted improperly.
He
survived Piggate, no doubt he will survive this morally reprehensible
(?)
charge
of benefiting from an offshore account – even though all the
(Inland Revenue/IRS) paperwork is in order (!)
Legal Eagles
It is
important to remember that no laws have been broken where a citizen
or company transfers its assets to another legal jurisdiction to
reduce their tax liability provided the legal reporting requirements
in the offshore facility and local (indigenous) reporting (IRS)
requirements have been met
according
to national and international laws by those acting for the
beneficiary - or himself or herself.
The
Master Baiters:
Behind
What ICIJ Has Publicly Released (The Master Lists)
With so much
information (and disinformation) being manufactured on an hourly
basis I thought I would give you something you will find difficult to
obtain – 2 of the Master Lists worked on by the ICIJ.
From these
two lists alone you can see that data has been redacted by the
original sender.
This in
itself is not proof of anything nefarious.
It does
however suggest that whoever supplied the ICIJ had enough knowledge
about the detail and detailed content (in the instances I present
here) to selectively redact out of 750000 individual entities. This
suggests a very high security level of database access within
Mossack Fonseca. It also suggests capability to individually
discriminate from millions or tens or even hundreds of millions of
individual records according to highly selective parameters.
Capabilities
such as this, I can assure you, are not available in Third World
countries.
There are
about 60 countries in the world which have such capabilities but only
about thirty (maybe less) which would have the parameters to exactly
identify which (entities) from tens of millions to include and which
to omit to generate such a refined list as output for 'export' to the
ICIJ.
This
suggests to me (possible) consultation and pre-screening before the
Master Lists were released to the ICIJ.
This all
suggests to me more than one individual involved in the processing of
the data after it was leaked from Mossack Fonseca.
Attached
(see the attached .pdf files) you will find copies of two Master
Lists.
Make up your
own mind what you think is actually going on.
Ask yourself
who benefits from discrediting Mossack Fonseca and its clients
deserting it for elsewhere?
Why was
Mossack Fonseca specifically targeted?
Were there
legitimate reasons to bring down this company?
(Has it been
knowingly involved in activities where its probity has been called
into question?)
Are there
more serious issues (FBI/DEA/ATF) yet pending?
Is
My Name On Any 'Panama' List?
If
your name appears on the attached Lists you might want to check
again, just to be sure.
The
lists contain just over half a million data records for companies,
entities, officers and others acting for clients with offshore
companies and bank accounts.
It
is important to note that the ICIJ lists (in their totality) contain
some 11 million files.
Background
The
International Consortium of Investigative Journalists(ICIJ) was
given information pertaining to accounts held offshore. Researchers
from ICIJ were assigned lists by regional breakdown and it is their
research on which all the information below is based.
Why
The BVI?
Since
the publication of 'The Panama Papers' the British Virgin Islands has
come under particular criticism as the most reclusive of the tax
havens in the world.
Most
companies registered in the BVI retained their offshore domicile at
this location after new international laws on financial transparency
became effective as of this year.
Transparency
There
are many legitimate reasons why governments, individuals and entities
hold offshore companies and bank accounts - and such are not the main
focus of interest here. There are many illegitimate reasons why
individuals and entities would want to hold accounts offshore. The
latter is what are of prime interest to the ICIJ.
Data: -
For Information Only
The
information given here does not speculate as to the legitimacy of
each account held (or account holder) and all data can be obtained
using public access annual/other mandatory reporting requirements for
the respective jurisdictions.
It
was when the painstaking work of regional ICIJ researchers
cross-checked the data that any anomolies, inconsistencies and the
facts themselves revealed, in some cases examined, the blatant use of
offshore accounts for money laundering, tax evasion, and other
activities which the home countries of such beneficiaries would
themselves consider as illegal, all became apparent.
All
that has happened is that such data has been refined and parceled
onto regional single sheets for brevity and research.
There
is still speculation as to how the master lists were obtained.
A
Conspiracy To Discredit President Putin?
The
Russian Federation has been particularly irritated by the inclusion
of close associates of President Putin and alleges that the lists
were 'hacked' by the NSA then passed on to the ICIJ (which they
allege works for the CIA/NSA/ U.S. government) to discredit and
subvert BRICS (Brazil, Russia, India, China,South Africa) members.
By
giving you the opportunity to review 2 public domain master lists
with nearly three quarters of a million data entries, you have an
opportunity to judge for yourself the merits of such a claim.
(I
agree with you that the Master Lists mean absolutely nothing unless
you either have a key or legend or are a forensic auditor or
researcher.)
There
is no doubt that the leaked information has been selectively used
with the initial focus on high-profile 'targets'.
Because
a number of high profile individuals who happen to be friends of
President Putin or his family have been selected for media attention,
does not necessarily imply a conspiracy against the President.
With
11 million records for the mainstream media to be provocative and
controversial (sell more newspapers and achieve higher than average
viewing ratings) fine selectivity appears to have been the order of
the day.
How
Was This Leak Achieved?
More
likely than not, the list was passed on by a disgruntled employee or
mole within Mossack Fonseca. Mossack Fonseca strenuously deny this
and claim to have proof that their computer system was hacked by a
person or persons unknown external to the company and to the country
of Panama.
Russia
Today television network, without providing any evidence, have
said that it was an NSA hack which took place with the assistance and
knowledge of the Panamanian authorities to discredit BRICS countries.
If
You Look Across Western Europe and The United States it certainly
appears that local media has highlighted issues pertaining to the
Russian Federation and China.
In
the reference section below below you will find evidence of this
fact.
Because
of the sheer enormity of the data, the focus of the ICIJ and
mainstream media has been on individuals and companies of particular
interest in countries which play a pivotal role in world finance and
in geopolitics.
Notably
there is an absence of U.S.- based companies from the lists.
This
is not however surprising.
If
you look at one of my blogs from at least 2 years ago I said that
many U.S. companies had long vacated Panama for other destinations.
(You
will find it under 'Panama'. It was near to Christmas two years
ago.)
In
addition to this, it is not often understood that secrecy laws in
certain U.S. States, provided there are no security or unlawful
operations, offer even greater security and confidentiality than that
which exists today outside the jurisdictional boundaries of the
United States Commonwealth and Territories. For these reasons alone,
there is now little incentive, other than the (traditional) reduction
of taxation liability for U.S. companies to go offshore.
Basing
your global HQ in, say, Ireland to reduce your tax liability from
$1bn U.S. annually to around $50m at a time when Americans are
hurting for want of Federal resources, dying for want of proper
medical care at home, and homeless people starving on the streets,
unemployed in vast numbers in the Rust Belt because of outsourcing to
China and other countries in Asia, and lack of a living minimum wage,
are all making it highly controversial and more and 'unfashionable' for
the global conglomerates than it might have been 20 or so years ago.
Local
Compliance
It
is always up to the companies, their accountants, attorneys,
representatives and other entities to justify (and prove) to their
respective offshore authorities that the accounts are legitimate and
compliant with all international requirements.
Where
such is the case, there are no issues – other than the fact that
the companies are now more 'public' domain than they were previously.
There
is no such thing as a private company which can shield it's identity
100% from local and international law and reporting requirements –
and all of which are available on a public record of interests in the
domiciled or offshore jurisdiction.
Are
Offshore Accounts Of Public Interest?
At
a time when the U.S., U.K. and European general public are hurting
because of economic austerity, outsourcing of jobs, unemployment,
higher hours of work for lower pay, and a general squeeze on the
finances afforded to local law enforcement, hospitals, schools, fire
departments – all of the services we take for granted in our
civilized societies – people have a right to be concerned that
individuals who, on average, have wealth in excess of $10m U.S., are,
at the very least, compliant with IRS and other international
reporting requirements.
This
same ethos is no different for Asia or for Africa, Latin America,
China and The Russian Federation.
BVI
List
The
attached lists contains the names and identity details for just under
half a million individual companies, trusts, intermediaries,
individuals (and professionals) acting as intermediaries or
exercising power of attorney.
How
Much Money Is Involved With 750000 Entities On This List?
The
amount of money involved, in total, is staggering.
Mossack
Fonseca dealt with 'high-end' clients from the lower end - each
having a net worth of at least $5m-$10m U.S. to the high end -$100m+
U.S.
I
have not made even a fractional calculation with regard to being able
to project as each company or entity needs to be looked at on its own
merits.
If
you assume an average net worth for each (of just over half a million
entities) of approximately $5m-10m, you will have some appreciation
of the amounts involved with this one company alone – and why it is
now of considerable interest worldwide as ordinary people consider
issues beyond such entities (companies, agents, settlors or
attorneys) just fulfilling their legal requirements. In other words
educated people worldwide are asking should such beneficiaries
(people who ultimately benefit from the tax haven) also have civic
duties to their respective home communities which mirror their
meeting the legal and international benchmarks for their offshore
enterprises.
What
I have no doubt about is that the amount of money in the offshore
entities listed at this site alone (and they are just the tip of
the offshore iceberg) is more than my government pension check will
ever see to pay all of my monthly household bills in my lifetime(!)
What
Do I Do If My Name Is On 'The Master Lists'?
If
your name (or ID tag) is on the attached master lists and all is in
order, you should do nothing.
If
there might be issues, it is advisable that you contact your
accounting firm locally, wherever in the world you are permanently
domiciled.
Even
if information is in the public domain, better you (or your
representative) contact the IRS or other local (to your country)
Federal Revenue Service first, rather than they having to take the
initiative to contact you.
(With
cutbacks in resources to U.S. and U.K. Revenue Departments,
even
if there was a U.S.- U.K. connection, chances are it will take some
time (months) for them to get around to your offshore company. Under
such circumstances, be wary of any advice which simply suggests
moving the domicile of your entity to another offshore - or inshore
– location.)
From
The Frying Pan Into...........?
If
there is an issue, another good reason for contacting the IRS/your
local (regional) Government Revenue Service first is because master
lists such as this will inevitably fall into the hands of
disreputable individuals and criminals who may attempt to extort
money or offer a myriad of 'services' - citing your company as on
some offshore list which they can 'assist' with its 'problems' even
if you or your entity has not been 'outed' to date.
Because
this blog focuses on the BVI, I have included below for reference
purposes, research which examines in details some of the findings
from the Panama Papers which have made international news.
I
have, in this case, added some additional non-relevant topical issues
from the same reference sites so you can do your own research.
From
'Russia Today' media network there is considerable irritation and outright anger at what it
regards as Panama's 'betrayal' and 'sell-out' of secrecy and confidentiality to
Russia's 'enemies'.
I
am fairly confident that this 'leak' had nothing to do
with the government of Panama. The last thing it would desire is a
crisis of confidence caused by such revelations as the effects on the
country's revenues
and status as a legitimate offshore tax haven will be considerable and
could cause political upheaval in the country, in the longer term.
The
government of Panama operates a transparent accounting system for all
entities operating within its jurisdiction.
It
is not deemed by the U.S. Treasury* as a 'rogue offshore State' and
has always complied with all international agreements for financial
transparency across all international borders.*
Because
Panama is well-regulated (a derogatory comment on RT said 'you can't
blow your nose - or go to the toilet - I cannot remember the exact
statement) in Panama without the U.S. knowing') there has been a tendency
in the past for criminals to choose softer offshore facilities to
conduct illicit activities. Even Russia Today appears to be in
agreement that Panama is a highly regulated offshore tax haven for
foreign entities.
Companies registered in Panama
are subject to Panamanian law and must observe all reporting
formalities or risk either being struck off or heavily fined (or both) for
non-compliance.*
References
Access To The Open Source Master Lists
To
access two of the Master Lists and their 750000 data entries (a total
of 68 mb) please refer to the section on this page which says ''Panama
Master Lists''
''What
is the ICIJ Database?''
''The
database contains ownership information about companies created in 10
offshore jurisdictions including the British Virgin Islands, the Cook
Islands and Singapore. It covers nearly 30 years until 2010. There
are legitimate uses for offshore companies and trusts. We do not
intend to suggest or imply that any persons, companies or other
entities included in the ICIJ Offshore Leaks Database have broken the
law or otherwise acted improperly. If you find an error in the
database please get in touch with us.''
''Please
cite The International Consortium of Investigative Journalists when
you use information from the database in publications and other
works. ''
and
who exactly is Mossack Fonseca?
''Mossack
Fonseca’s fingers are in Africa’s diamond trade, the
international art market and other businesses that thrive on secrecy.
The firm has serviced enough Middle East royalty to fill a palace.
It’s helped two kings, Mohammed VI of Morocco and King Salman of
Saudi Arabia, take to the sea on luxury yachts.In Iceland, the leaked
files show how Prime Minister Sigmundur David Gunnlaugsson and his
wife secretly
owned an offshore firm that held millions of dollars in Icelandic
bank bonds during that country’s financial crisis.''
''The data
includes emails, financial spreadsheets, passports and corporate
records revealing the secret owners of bank accounts and companies in
21 offshore jurisdictions, from Nevada to Singapore to the British
Virgin Islands. ''
The
ICIJ has come under scathing criticism, especially on the world's
foremost news and information channel, 'Russia Today'.
(Russia
Today, in my opinion, is the greatest propaganda channel since the
BBC lost this status – coincidentally just before RT started
broadcasting!)
Russia
Today is particularly irritated about the fact that while President
Putin is not named anywhere in the Panama Papers, his 'paws' are
implied across accounts amounting to possibly as much as $2bn U.S.
To
be fair, just because you know someone and they are close friends,
this does not make you complicit in any illegal activities which they
decide to engage in, using your friendship and 'connection' to
assist their doubious enterprises.
So
who exactly is the ICIJ and who are their partners and funding
sources?
You
can find out by visiting their website at the reference below
The
Panama Papers ''are among the findings of a yearlong investigation by
the International Consortium of Investigative Journalists, German
newspaper Süddeutsche Zeitung and more than 100
other news organizations.''
What
is the ICIJ Database?:
''The
database contains ownership information about companies created in 10
offshore jurisdictions including the British Virgin Islands, the Cook
Islands and Singapore. It covers nearly 30 years until 2010. There
are legitimate uses for offshore companies and trusts. We do not
intend to suggest or imply that any persons, companies or other
entities included in the ICIJ Offshore Leaks Database have broken the
law or otherwise acted improperly. If you find an error in the
database please get in touch with us.''
''Please
cite The International Consortium of Investigative Journalists when
you use information from the database in publications and other
works. ''
and
who exactly is Mossack Fonseca?
''Mossack
Fonseca’s fingers are in Africa’s diamond trade, the
international art market and other businesses that thrive on secrecy.
The firm has serviced enough Middle East royalty to fill a palace.
It’s helped two kings, Mohammed VI of Morocco and King Salman of
Saudi Arabia, take to the sea on luxury yachts.In Iceland, the leaked
files show how Prime Minister Sigmundur David Gunnlaugsson and his
wife secretly
owned an offshore firm that held millions of dollars in Icelandic
bank bonds during that country’s financial crisis.''
''The data
includes emails, financial spreadsheets, passports and corporate
records revealing the secret owners of bank accounts and companies in
21 offshore jurisdictions, from Nevada to Singapore to the British
Virgin Islands. ''
Other
references of interest:
A
comment I have read is that these revelations are likely to reveal
high profile individuals who own top properties in London and hide
their money in Panama.*
across.co.nz/NewZealandMinistries.html...
Kumar Tel. 09 832-0022 - PO Box 15-212 New Lynn, Auckland
7 NZ .... Hunua Falls Presbyterian Camp - Papakura
... Military Christian Fellowship of New Zealand - RNZAF
Base Auckland, Private Bag, Whenuapai; ph
09-417-8405; email.
Revealed:
the $2bn offshore trail that
leads
to Vladimir Putin:Luke
Harding | The Guardian | Sunday 3 April 2016
Veernayastr
30-2-15, Moscow, Russia:
cash
to invest?
Mr.
Samuel Rondot 9 Netherleigh Park, South Nutfield, Surrey RH1 5NH
You
Tube:
Other references:
1 12 journalists in
58 countries
Buying & selling secrecy
ò How the secret world works
ò Top government officials
ò Mega-rich
ò The enablers: big banks, lawyers, accounting firms
ò Fraudsters, Ponzi schemers, arms traders
Who's Buying Britain? Probe
Reveals Real Estate Speculators
Hidden By Offshore Alchemy
Da: id Harold Fraj.-marl James Ball
London properties purchased via British Virgin Island entities.
Philippine Government to Probe
Marcos Daughter's Offshore Trust
Imee Marcos: did not report her offshore trust on asset disclosure
statements she's required to file as a govemor.
Offshore reporting collaboration prompts interest
fronl two Philippine aovernnient agencies and
305 reginle political
KEY FINDINGS
Disclosure of secret offshore
documents may force top
Mongolian lawmaker to resign
MAZE
Francois Ho11ande's Campaign
Treasurer's InVest1nents in the
Cayman Islands
Offshore Firms Funneled Away
Millions As Serbian Companies
Shed Workers and Lurched
Toward Ruin
Offshore companies provide link
between corporate mogul and
Azerbaij an's president
his wife Mehriban.
Swiss Bank Pushed Offshore
Middleman to Skip Anti-Money
Laundering Checks for Wealthy
Clients
Walker are Frarzgcis {filer
Billionaires Among Thousands of
Indonesians Found in Secret
Offshore Documents
Names in the offshore records include billionaires linked to fonner
Indonesian dictator Suharto (iefl) and the son of fomier president B. J.
Habibie (right). Photo: AP
Faux Corporate Directors Stand in
for Fraudsters, Despots and Spies
. Xx'
. - - fl 3' Serve'
'l 1_r_m
1
. . .
Ifiui
51 5
"Iv: - 0 I
What links the Rwandan genocide, a CIA secret prison, and Saddam
Hussein? All used anonymous fronts offshore.
\\'o1'ld\\'ide network of 'nominee direCto1's' helps hide
Mega--Rich Use Tax Havens to Buy
and Sell Masterpieces
I -.
the ziarrnen
Watermill at Gennep by Vincent Van Gogh, held at the Camren
Collection at the Museum
Famed Suanish art natron uses island haven in South
'Offshore Leaks' Revelations Force
Resignation of Top European
Banker
View
Fomrer Raifieisen Bank chief executiv Herbert Stepic. Photo: AP
Crocodile Dundee Actor Paul
Hogan Chases His Missing
Offshore Millions
Kate Francois Pilet
Actor Paul Hogan: accuses his tax adviser of absconding with $34
million he hel - hide in offshore tax havens.
Son of Former Korean President
Obtained Secret Offshore
Company Amid Fami1y's Tax
Evasion Scandal
Lee
Korea customs office uncovers former
president's illegal offshore foreign
transactions
son, Chun Jae-kook
Islands in 2004.
Searchab1e,down1oadab1e
English Chinese interfaces
3
11' ?7"JEUR:lfli1fli1t
- - ifiilfififi -
Impact
ò Official investigations in India, Philippines, Bangladesh, South Korea,
Israel, Greece, Australia
ò High-profile Resignations
ò Changed the conversation in Europe on tax Havens
ò Crown dependencies agree to information exchange
ò Tax havens on G8, G20 agendas
1/
.
I
A Eackacie arrives in the mail
PORTCULLIS TRUSTN ET
Sources of data
Asia's biggest
independent group of trust companies
for comprehensive wealth administration
OUR GLOBAL NETWORK
Postal Address:
PO. Box 3321
Road Tovm. Tortola
Become the
“Lord* of the Files”
ò Know what is on the Drive
ò File Extensions can be deceptive
ò i.e. indontknow.bak = what BACKUP?
ò Unknown stuff … what is it?
ò Unix Tool called “file” …
helps, but not always
* Or Lady J
Become the
“Lord* of the Files”
ò Archives are a pain to index
ò i.e. Outlook Archive file with +100.000 Mails
ò Challenge: forensically correct conversion
* Or Lady J
It’s broken – can we fix it?
ò A 100 part zip File … unkown contents (know file
names)
ò 2 Parts are missing
ò Last file exists ;-)
ò Tried 8 Tools, none worked (but a lot wasted time)
ò If it was a corrupted single file zip …
ò BUT IT IS NOT.
C?P'l'rf . 7
Select file to repair: C:\Users\CoBi\Deskfop\Mein 0rdner\Dateien\Musik.zip
L)
1 i .
3:
:17. 2 Repair _l
Files/folders recovered: 8
0 ptions Time elapsed: 00:00:02
Filename Date Action
Musik - Kopiei 21 /04/201 0K
Save repaired file as: fij Brogse
Musik-Kopie/Aloneinthe 3793592 3717233 . 31<
3793592 3717193 OK
378944 358141 .. 0K
Musik-Kopie/HipHop 17593333 17434222 .. 0K
Musrk-Kopie/HipHop 757852 715779 .. UK
Musik-Kopie/HipHop 3793592 3717193 3K
0
Activate Product
El Buy Now F1leName:Musik - Kopie/H art2FIock.mp3.sfk Ver: 20 Bit:0
lFi|e Header found at Offset 17792788
1 FileName:Musik - Kopie/HipHop Song .mp3 Ver: 20 Bit:0 CFIC: 75798322 C911 7434222 U511 7596800
I File Header found at Offset 35227070
1 Fi|eName:Musik - Kopie/HipHop Song .mp3.sfk Ver:20 Bit:0 CM e:8 -
File Header found at 0ffset 35943913
1 Fi|eName:Musik - Kopie/HipHop Song 1.mp3 Ver: 20 Bit:0 CM e:8
I File Header found at 0ffset 44861170
Working while sleeping
ò 5 Gigabyte unknown structure
ò 8.3 File names … Not IDd by forensic Software
ò 2 months later … woke up and knew:
ò Microsoft Mail for PC Networks
ò Has only be sold for 9 Months
ò Took 2 months to allocate a copy (license!), create a
virtual machine capable of NT 3.51 (too much memory)
and then start the conversion
* Or Lady J
Working while sleeping
090 090
file Edit 'jiew Mail Liindow flelp
fig' eigepifirfid
Inbox
flute l-'olden Fm. subiect Received
Cl Deleted mail 8 Danny Need your help
lnbox 8 Harry Status Report
3 Sent mail
Need your help
From: Danny
Date: Tuesday, June 23, 2009
To: Tom
Cc:
Subieclz Need your help
Tom,
Can you give me a hand with the database? I'm having a problem with the relay
circuit.
3
2 messages
Database & Code
ò We discovered Custom Software on the Drive
ò Problem: Did not run
ò Solution: Try it again
ò And again
ò And again (change something)
ò And …
ò It worked … with an SQL Server, some Date changes,
and some connector switches
Database Code
Portcullis TrustNet Group
Iunudxons Requests I)ueD1lxgc-ncc
-
Entity Selection
.6
fnmy
Name
InvomvReplication Desaster
ò Keep Backups and don‘t use them for work
ò Saved all during a copy session in Bucarest
ò 40° Celsius (104° Fahrenheit)
ò Drives were dying within an hour
ò „Unknown State“ = WTF?
Final Solution: Work at night
Forum
ò Just one thing: PGP does not scale to 10+ people
ò eMail does not, too (threading, repetition)
ò Solution: Forum software
ò Setup easy, config not so
ò One click deletion – 3 days before first release
13 ICIJ Connect
Secure sharing of Information and assistance
Private Messaging 2 Members Calendar Search Q. Help 3 Control Panel
Show: Today's Messages Unread Messages Unanswered Messages Show Polls Message Navigator
Admin: I Group Manager
so--d-oww
Search Search in Forum: Attachments: Search Logic: Sort Results by Date in: filter by user:
- I Search All Forums with or without AND I Descending Order
@Entlre Message Only
losealdlkeodbfotlld
1 Forum: People, places stories or>> Posted on: Fri, 11 January 2013 23:48 er>> By: Mar Cabra
Warburg Pincus
Hi guys, Is anybody looking into Warburg Pincus? I believe this is them: (private equity investing) Th
(meaning several entries as different
2 Forum: FINAL STORIES er>> Posted on: Thu, 13 December 2012 10:48 By: Stefan Candea
14. Germany
How the German-Swiss industrialist and art collector Gunter Sachs (married briefly to Brigitte Bardot) and the French part of the famous banker-a
Islands (in the case of with the help of
3 Forum: People. places . stories on>> Posted on: Thu, 06 December 2012 18:40 or>> By: Martin Munz
Christian Jagodzinski
German New-Economy-Millionaire Christian Jagodzinski invested 6 Mio. dollars in a Trust which should buy an Island on i-'iji to build a luxury resort
tries to sell the island on Internet. Prize: 20 Mio.
Home
Which tools?
ò Nuix: Indexing text files, pst Outlook files, even
spreadsheets, but at that time, not databases
ò Easy to use output
ò Easy to teach team reporters who were unskilled in data
analysis
ò Agreement with Nuix allowed us only to run on
reporters’ local computers
File Edit Items 60 Window Reports Scripts Help
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Sotrtzoffinds-06-03-07.DOC
79287-ANZ Account Opening Forms-Directors Reso|ution.pdf
ac opa'i'Ig.doc
oert.htm
PH 1-34112752-v 1-Denise Ridw - and Invoices to Summers.PDF
to Su1lners.P[X=
76287-5544-07 08-O9-O3 Email Ira reso-share
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morocco) mum Dnoanam smuaun>> 150+>>
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239
Tools
ò dtSearch: Added the indexing and search function to
the key Microsoft Access and SLQ Sever databases
ò Need some expertise to search that some reporters did
not have
Tools
ò Interdata: Putting the relational databases’ schema
together without data dictionaries or record layouts
ò Created a front end for non-technical team members to
search
ò Networked for use around the world
Search System
Edit View Favorites Tools Help
3, gi] Limbaugh v. Petri Know Suggested Sites 13] -ref:|ogo Web Slice Gallery
A
I Hallofthewords VI
CTL E-mail
CTL files
CTL OMET Database
ICIJ website Offshore publications
PTN and CTL scanned image files
PTN and CTL scanned PDF files
PTN Cook Islands DBMS database
PTN E-mail
PTN files
PTN OMET Database
PTN OSS database
PTN Windows mail email
ElFuzzysean:hing-Fuzziiess
ljPhonicsean:hing
l:lWondNetreIatedwords
ICIJ Offshore Interdata Search instructions
Interdata manual
Click on the link above to read the current Interdata Search Manual . Its important. You can get the-
rest of this page. which explain how to use all sophisticated search features of dtsearch.
New search index for ICIJ publications
From 24 January, ICIJ Interdata includes a searcheable index of Offshore and other articl
This is a test index. At present, some of the pages are not being viewed correctly or at all
link in the left hand search panel.
CTL and PTN OMET
and PTN OMET (meaning "Offshore Main Entity Tables" are new databases derived from CTL a
but is fragmentary.)
After ICIJ's offshore project is launched, the OMET tables and visual and geographical aids based
(cloudsource) useful leads from readers who spot stories we haven't (yet) identified.
Searching OMET when it comes online will be more helpful and more relevant than the existing CTL
team members have been using. This is because the all data about individuals, companies and clien
(OMIS, standing for "Offshore Management Information System' is the name of two databases. (on
data set. OMET information is mainly extracted from the two OMIS systems.)
Search the OMET indexes using the name of your country or countries of interest. and/or cities and
previously used search methods. To make this more effiective you can compose a suitable search -
OR Lyons OR Bordeaux' will get a good search going for links to France.
The OMET databases are being developed further, and will include more contact details, explanatio
CTL and PTN scanned image files
Tools
ò Talend: ETL program for rebuilding SQL databases to
create tables for the interactive network site
ò Used for integrity checks for the interactive
'7 :5 Documentation processes and outputs.xlsx - Excel --
FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW DEVELOPER David Donald
Cut . is. D3 tux AutoSum
Calibri [11 A A -- Text General I '3 2 ii]
Ea copy - ..I B3 .
Paste tp . 3 I 3) A Mergeslcenter ?3 Conditional Format as Cell Insert Delete Format Cl Sort& Find 81
9' Formatting Table' Styles ea' Filter' Select
Clipboard Ii Font Alignment I: Number I: Styles Cells Editing A
A1 2 A Step
A
j:
7%
all tables containings addresses
.i
4 . . . names
5 "and "gold: extractingName.. all table. containing. name. 4
name. some
- transf_aIlnames_4l<arIita transformations like removing titles or common table of distinct names and some transformations
6
7 Statement I Bet Unique iralues table of distinct addresses
Statement 2
Statement 3 filter similar pairs based on an accurate
I . I Clusterset [must be copied to a table called and then truncate it] records with an ID and Description for each Cluster
ca 3 Ponion' create norma iced tab es wit usters
PP.i-ii - .i -
lternset [must be copied to a table called iternSetAddress and then truncate it) values of .. to their cluster
'2 Clustering Statement 4 itemSetAddresses Set the Clusterlds to the original addresses table
'3 Statement 5
Statement 6 filter similar pairs based on an accurate
Clusterset [must be copied to a table called ClusterSetNames and then truncate it] records with an ID and Description for each Cluster
'5 - C8 app: iciiclusterer [names portion] create normalieed tables with Clusters of names
|temSet [must be copied to a table called itemSetNames and then truncate it] values of associated to their respective cluster
'7 Statement 7 itemSetNames Set the Clusterlds to the original names table names.
"uud"gEnmi" Union of all the offshore companies 0 looking up
20- for values
Union of all the officers 0 looking up for
extractingofficers descriptives values like occupation. nationality and officers
23 extract obiects comm'
Mrurclicnl Union of all the master clients records looking
for descriptives values: introducers. country. intermediaries
2- category. administrator. Status
26 all tables containings addresses the address" and rcmiomhips empty . . .
4 Datacheck G) 1 in
Do.com
Do Marketing Launch
-l-section +Taak
Poet slides to chatter (lncludlng . wmm"
Launch -2 weeks
See attached Googe Doc for some social media handle
a social medla llve
Develop template for weekly barometer. dashboard (external),
Do Marketing Launch
Setup Tumblr blog
suascmasns (3)
50109 VOUTUDO D890 A'r1'AcuMar1's
Endor soclal modra handles
<3
Sean whlteley
still needs some austin love. but I want you and I
to be comfortable with the messaging
Develop moblle alto
Develop demo a use cases
Get .do domaln for URL ahortener
comment on strategy (GoogIe Doc)
Sen Whiteley
you think of the deck?
umch .1
.
Marketplace - Google Apps Marketplace. Apple.
Arnit
Salesforoe Internal education - marketing
ICU OFFSHORE LEAKS DATABASE ICU
ytweet -{2,o4o
The database contains ownership information about companies created in 10 offshore jurisdictions including the British \firgin
Islands, the Cook Islands and Singapore. It covers nearly 30 years until 2010.
Learn more about the data. Why is the ICIJ making this information public?
All countries Search
Officers Master Clients Offshore Entities Listed Addresses
Leave the search box blank if you want to see a comprehensive list of names for a specific country.
What We Found So Far (see map) - Search Hints - Glossary - Watch the Video Tutorial
Jaime Rotondo-Ruuo
Etwin Mulor
. Nautilus Limiod
Monte Eoquinza. 3o Bajo. lad. 2eo1o Madrid SPAIN
I
0 Carmen Thyuen-BomomiszAa
Patrick K. Oeoch ..
Client
Master Client
Lawyer
0 Local management
company
a Bank
a Person with many
companies
Offshore
service
provider
.54IHLJS1
Offshore
entity
CO0 000
fl Fuzzy Lookup Add-In for Excel
Language: English Download
contact@icij org
--
2 case
Dear Mr Rotondo,
RE: NAUTILUS TRUSTEES LIMITED ("the Company")
Further to our previous correspondence we confirm we enclose the following:--
1. Original share certificate nos. 2 the name of Carmen
Bornemisza for 1,100 ordinary shares.
2. Original share certificate no. 3 in the name of Borja
Bornemisza for 900 ordinary shares.
3. Updated copy of the Register of Members.
Please arrange for Buque Anstalt to date, affix the common seal, execute
where indicated on the front of the share certificates and complete the back
of the certificates.
LENZ STAEHELIN
Bleicherweg 58
CH-8027
Zurich
SWITZERLAND
ATTN: Madeleine Cina
Dear Ms. Cina,
RE: NAUTILUS TRUSTEE LIMITED
Please find enclosed Various correspondence received from Sotheby's. In particular we have received
correspondence as to the purchase of "Watermill Gennep" by Vincent Gogh.
Regards.
Yours faithfully,
TRUSTNET (COOK ISLANDS) LIMITED
PUAI T. WICHMAN
"Wcztermill at by Vincent Van Gogh
the "regular" reportr
Search public documents
000 000
Bienvenidos Benvinguts Benvidos Ongi etorri Welcome Bienvenue
- Agencia Estatal Boletfn Oficial del Estado
BORME Legislaci?n Anuncios Publicaciones Tienda LaAgencia Buscarel a la Carta .3.
Esta' Vd. en Inicio 02[04[2013 Documento BOE-A-2013-3529 anterior siguiente
Orden de 11 de marzo, por la que se otorga Ia garantia del Estado a cuatrocientas
ochenta cuatro obras prestadas a La Fundaci?n Colecci?n Bornemisza.
Publicado en: nL'Jm. 79, de 2 de abril de 2013, pa'ginas 24966 a 24990 (25 p?gs.)
Secci?n: Otras disposiciones
Departamento: Ministerio de Educaci?n, Cultura Deporte
Referencia: BOE-A-2013-3529
PDF de la disposici?n
XML de la disposici?n
TEXTO
Court case Bermuda
000 000
DA Offshore
7. It is also noteworthy that the Protector is currently the Principal Beneficiary under the
Trust while the Plaintiff, as the result of an Irrevocable Deed of Appointment,
potentially has an absolute interest in 35% of the Trust the assets of which are
believed to be Worth in the region of billion.
EURI1
coo
Yunsong
coo
Mam:
Pom!
Resources
• Investigative Dashboard
http://www.investigativedashboard.org/
• Open Corporates http://opencorporates.com/
• Offshore Alert http://www.offshorealert.com
• ICIJ Offshore Leaks Database
http://offshoreleaks.icij.org/
• BVI Financial Services Commission
http://www.bvifsc.vg/en-gb/divisions/
registryofcorporateaffairs.aspx
• Hong Kong Company Registry
http://www.cr.gov.hk/en/home/
Or
Thank you!
SLR,
