Leaked ‘Pandora’ records show how the powerful shield assets

Money Cropped

By MICHAEL LIEDTKE and JONATHAN MATTISE
Associated Press

A new report sheds light on how world leaders, powerful politicians, billionaires and others have used offshore accounts to shield assets collectively worth trillions of dollars over the past quarter-century.

The report, published Sunday, is being dubbed the “Pandora Papers” because the findings shed light on the previously hidden dealings of the elite and the corrupt. Hundreds of politicians, celebrities, religious leaders and drug dealers have been hiding their investments in mansions, exclusive beachfront property, yachts and other assets.

That’s according to a review of nearly 12 million files obtained from 14 firms located around the world. Many of the tax dodges are legal, and analysts say one solution is to ban shell companies that help investors avoid paying taxes.

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10/4/2021 11:01:08 AM (GMT -5:00)

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