Pandora Papers: London Global Tax Evasion Center

Figurines caricaturales dénonçant l'évasion fiscale

Vladimir Putin, Tony Blair, Dominic Strauss-Kahn … 35 managers and more than 100 millionaires reveal many tax secrets through Pandora Papers. Five years after the Panama Papers, 12 million pages of documents condemning the actions of several public figures with the investigation of several hundred journalists.

According to an OECD study, at least $ 11.3 trillion is deposited in the world at sea. In the face of these financial measures of the shadows, investigative journalists are working day and night to shed light on tax evasion. The Panama Papers created a shock wave in 2016 that included popular names such as Prince Charles or Louis Hamilton. But according to experts, the Pandora Papers will do. ” On steroids […] Broad, rich and comprehensive “. A tremendous adventure that marks great innovations in the world of inquiry: this is the first time that many journalists from around the world have gathered in this context.

Pandora Papers: Steroids Statistics

The International Federation of Investigative Journalists (ICIJ) was born in 1997 and gained independence twenty years later. Based in Washington, the organization was the source of many document leaks, such as the Panama Papers or the Paradise Papers. This time, more than 600 journalists from 117 countries have joined the skin research force of 12 million pages of various documents: images, emails, reports, notes … 2.94 terabytes of data spread. The Pandora documents were released on Sunday, October 3, 2021 to 150 press member partners, including The Guardian, Le Monde or the Washington Post.

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The one-and-a-half investigation led to the series’ biggest data breach, condemning the plans of more than 100 billionaires, 35 heads of state and 300 employees. The Pandora Papers actually expose 29,000 foreign companies, revealing the internal workings of tax optimization in more than 90 countries. Companies affiliated with rich personalities are hired to build marine structures and funds in taxed locations in Switzerland, Monaco, Panama and Dubai. London is considered the hub of the financial system because the British capital is home to a large number of lawyers, agents and managers who manage the clients’ wealth.

The names on the list stand out: Tony Blair, Boris Johnson, King of Jordan …

In the long list of accused by the Pandora Papers, some names stand out. Boris Johnson and the British Conservative Party Part: The data leak includes revelations about the party’s main donors. But Bojo did not just mention Tony Blair, who was head of government between 1997 and 2007, the Pandora Papers condemned. While the actions in question are not illegal, documents show that the Blair couple saved ண்ட் 312,000 in property taxes when they bought the London property for a wealthy family in Bahrain. We now understand the loopholes that facilitate tax improvement for various wealthy landowners.

King Abdullah Mimi of Jordan has led him to create 30 maritime companies, revealing that he is the head of the secret property empire of 100 million. It is owned and properties scattered between Malibu and London via Washington DC

If you read the Pandora Papers list you can see three former presidents of Panama, the president of Cyprus, the prime minister of the Czech Republic or Dominique Strauss-Kahn, the former head of the IMF, traveling around the world. As the singers also mention Shakira and supermodel Claudia Schiffer, politicians are not the only ones whose financial secrets have come to light.

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Pandora Papers originally targeted Panama-based legal alcohol lawyers, who have been involved in creating maritime companies to cover up the fortunes of more than 160 political and public figures. The eruption of such corruption illustrates the financial world of the shadow and the problems that allow for continuous tax optimization. It is understood that America has become a tax haven with data leaks. The state of South Dakota, for example, is home to billions of dollars in wealth associated with individuals convicted of financial crimes in the past.

Immediate reactions of many personalities

In view of these revelations, Joe Biden pledged to lead international efforts to bring transparency to the global financial system. However the shock wave created by the October 3 Pandora Papers could not expand. In most countries, while the facts involved have not been investigated, they undermine the value of an already criticized elite and provoke immediate reactions from both sides of the globe.

Although Vladimir Putin’s name was not directly quoted, he was suspected of having hidden wealth, and some of his closest collaborators were denounced by the Pandora Papers. His spokesman, the Kremlin, said: ” Unsubstantiated allegations “It simply came to our notice then.

In the UK, the announcements went on a good train today. The Institute player accused the Guardian of deliberately distorting the purchase of the local pair player and claiming that Tony and Cherry had always paid all their taxes and that they had not always used maritime avoidance methods. The Prime Minister also said that he completely rejects the revelations of the ICIJ. According to the rules established under the Labor government, all of these gifts are common. So we limit the whole time. For its part, Rishi Sunak, Chancellor’s Chancellor, said London was known as the world capital for tax evasion.Not to be ashamed”. The UK tax authorities will examine the lessons of the data leak that ensures.

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About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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