11 Million Documents Expose How World Leaders, And The Wealthiest Hide Billions In Offshore Tax Havens

In the biggest financial leak in global history, 11 million documents reportedly show how  a total of 12 world leaders or presidents,  the world’s rich and powerful hide money in offshore tax havens through undeclared offshore companies.

 The anonymous leak is reportedly from a Panama law firm  showing how the global network of offshore  or shell companies facilitates means for the rich to protect their  assets from exposure to taxation and at times allow the laundering.

The leak allegedly reveals a total of  12 current and former National heads of state such as Presidents, prime ministers, despots, etc and  up to 23 beneficiaries  on the world’s financial sanctions list, have hidden, huge sums of money transferred to offshore accounts owned by colleagues, friends, associates, and held there  as potentially a way of laundering billions of dollars of wealth.

The data reveal details of secret offshore companies linked to friends, families, colleagues and associates and up to 29 billionaires who appear in the Forbes Rich list hide their finances and then eventually bring it back into circulation in their own countries.

This is arguably the biggest financial leak of the financial dealings of the extent of the  world’s leaders offshore financial information and how they hide their money in global history.

It is interesting that the offshore set ups in Panama are generally legitimate and many beneficiaries have not done anything illegal but if allegations of money laundering and tax evasion, are identified, there will be efforts to hold many to account and crush safe tax havens by forcing transparency into their dealings.

Newsflash, the filthy rich global leaders  hide their finances yet, at the same time ,hunt, persecute, prosecute and jail their own citizens at times even confiscating financial investments of those who flout their country’s laws by not paying taxes while denying their governments, billions of taxes

This wealth or lost government revenues  could  be channelled towards Service Delivery in Housing, Education, Employment, Health care, Roads and Transport, Water reticulation, Policing, National security,  fight crimes, and other national development initiatives which essentially improve the lives of the ordinary street people. More to follow…….Discuss!..By Sibusiso Ngwenya


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