{"id":6753,"date":"2017-11-10T11:54:42","date_gmt":"2017-11-10T19:54:42","guid":{"rendered":"http:\/\/occupysf.net\/?p=6753"},"modified":"2017-11-10T11:54:42","modified_gmt":"2017-11-10T19:54:42","slug":"paradise-papers-leak-reveals-secrets-world-elites-hidden-wealth","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2017\/11\/10\/paradise-papers-leak-reveals-secrets-world-elites-hidden-wealth\/","title":{"rendered":"PARADISE PAPERS LEAK REVEALS SECRETS OF THE WORLD ELITE&#8217;S HIDDEN WEALTH"},"content":{"rendered":"<p><span style=\"font-size: 12px;\">MON, 11\/6\/2017 &#8211; BY\u00a0<\/span><a style=\"font-size: 12px;\" href=\"http:\/\/www.occupy.com\/author\/juliette-garside\">JULIETTE GARSIDE<\/a>\u00a0(Occupy.com)<\/p>\n<div id=\"article-info\">\n<div id=\"content-partner\">\u00a0THIS ARTICLE ORIGINALLY APPEARED ON\u00a0<span class=\"content-partner-title\"><a href=\"http:\/\/www.guardiannews.com\/\" target=\"_blank\" rel=\"noopener\">THE GUARDIAN<\/a><\/span><\/div>\n<\/div>\n<div id=\"sharethis\">\n<div class=\"sharethis-wrapper\">\n<div><\/div>\n<div class=\"fb-like fb_iframe_widget\" data-action=\"\" data-send=\"false\" data-layout=\"button_count\" data-show-faces=\"false\" data-href=\"http:\/\/www.occupy.com\/article\/paradise-papers-leak-reveals-secrets-world-elite-s-hidden-wealth\"><\/div>\n<\/div>\n<\/div>\n<div class=\"embed\">\n<div class=\"fluid-width-video-wrapper\"><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/MkVV2hvuQdM?rel=0&amp;wmode=opaque\" name=\"fitvid0\" width=\"300\" height=\"150\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/div>\n<div class=\"field-name-body\">\n<p>The world\u2019s biggest businesses, heads of state and global figures in politics, entertainment and sport who have sheltered their wealth in secretive tax havens are being revealed this week in a major new investigation into Britain\u2019s offshore empires.<\/p>\n<p>The details come from a leak of 13.4 million files that expose the global environments in which tax abuses can thrive \u2013 and the complex and seemingly artificial ways the wealthiest corporations can legally protect their wealth.<\/p>\n<p>The material, which has come from two offshore service providers and the company registries of 19 tax havens, was obtained by the German newspaper S\u00fcddeutsche Zeitung and shared by the International Consortium of Investigative Journalists with partners including the Guardian, the BBC and the New York Times.<\/p>\n<p>The project has been called the Paradise Papers. It reveals:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.theguardian.com\/news\/2017\/nov\/05\/revealed-queen-private-estate-invested-offshore-paradise-papers\" target=\"_blank\" rel=\"noopener\">Millions of pounds<\/a>\u00a0from the Queen\u2019s private estate has been invested in a Cayman Islands fund \u2013 and some of her money went to a retailer accused of exploiting poor families and vulnerable people.<\/li>\n<li><a href=\"https:\/\/www.theguardian.com\/news\/2017\/nov\/05\/wealthy-men-donald-trump-inner-circle-links-tax-havens\" target=\"_blank\" rel=\"noopener\">Extensive offshore dealings<\/a>\u00a0by Donald Trump\u2019s cabinet members, advisers and donors, including substantial payments from a firm\u00a0<a href=\"https:\/\/www.theguardian.com\/news\/2017\/nov\/05\/trump-commerce-secretary-wilbur-ross-business-links-putin-family-paradise-papers\" target=\"_blank\" rel=\"noopener\">co-owned by<\/a>\u00a0Vladimir Putin\u2019s son-in-law to the shipping group of the US commerce secretary, Wilbur Ross.<\/li>\n<li>How\u00a0<a href=\"https:\/\/www.theguardian.com\/news\/2017\/nov\/05\/russia-funded-facebook-twitter-investments-kushner-associate\" target=\"_blank\" rel=\"noopener\">Twitter and Facebook<\/a>\u00a0received hundreds of millions of dollars in investments that can be traced back to Russian state financial institutions.<\/li>\n<li>The tax-avoiding Cayman Islands trust\u00a0<a href=\"https:\/\/www.theguardian.com\/news\/2017\/nov\/05\/justin-trudeau-adviser-stephen-bronfman-offshore-paradise-papers\" target=\"_blank\" rel=\"noopener\">managed by<\/a>\u00a0the Canadian prime minister Justin Trudeau\u2019s chief moneyman.<\/li>\n<li>A previously unknown\u00a0<a href=\"https:\/\/www.theguardian.com\/news\/2017\/nov\/05\/lord-ashcroft-offshore-trust-wealth-tory-peer-paradise-papers\" target=\"_blank\" rel=\"noopener\">$450 million offshore trust<\/a>\u00a0that has sheltered the wealth of Lord Ashcroft.<\/li>\n<li>Aggressive tax avoidance by multinational corporations, including Nike and Apple.<\/li>\n<li>How some of the biggest names in the film and TV industries protect their wealth with an array of offshore schemes.<\/li>\n<li>The billions in tax refunds by the Isle of Man and Malta to the owners of private jets and luxury yachts.<\/li>\n<li>The\u00a0<a href=\"https:\/\/www.theguardian.com\/business\/2017\/nov\/05\/revealed-glencore-secret-loan-drc-mining-rights-paradise-papers\" target=\"_blank\" rel=\"noopener\">secret loan<\/a>\u00a0and alliance used by the London-listed multinational Glencore in its efforts to secure lucrative mining rights in the Democratic Republic of the Congo.<\/li>\n<li>The\u00a0<a href=\"https:\/\/www.theguardian.com\/news\/2017\/nov\/05\/arsenal-everton-stakeholders-close-ties-leaked-files-alisher-usmanov-farhad-moshiri\" target=\"_blank\" rel=\"noopener\">complex offshore<\/a>\u00a0webs used by two Russian billionaires to buy stakes in Arsenal and Everton football clubs.<\/li>\n<\/ul>\n<p>The disclosures will put pressure on world leaders, including Trump and the British prime minister, Theresa May, who have both pledged to curb aggressive tax avoidance schemes.<\/p>\n<p>The publication of this investigation, for which more than 380 journalists have spent a year combing through data that stretches back 70 years, comes at a time of growing global income inequality.<\/p>\n<p>Meanwhile, multinational companies are shifting a growing share of profits offshore \u2013 \u20ac600 billion in the last year alone \u2013 the leading economist Gabriel Zucman will reveal in a study to be published later this week.<\/p>\n<p>\u201cTax havens are one of the key engines of the rise in global inequality,\u201d he said. \u201cAs inequality rises, offshore tax evasion is becoming an elite sport.\u201d<\/p>\n<p>At the centre of the leak is Appleby, a law firm with outposts in Bermuda, the Cayman Islands, the British Virgin Islands, the Isle of Man, Jersey and Guernsey. In contrast to Mossack Fonseca, the discredited firm at the centre of last year\u2019s\u00a0<a href=\"https:\/\/www.theguardian.com\/news\/2016\/apr\/03\/what-you-need-to-know-about-the-panama-papers\" target=\"_blank\" rel=\"noopener\">Panama Papers investigation<\/a>, Appleby prides itself on being a leading member of the \u201cmagic circle\u201d of top-ranking offshore service providers.<\/p>\n<p>It acted for the establishment offshore, providing the structures that helped to legally reduce their tax bills.<\/p>\n<p><a href=\"https:\/\/www.theguardian.com\/news\/2017\/nov\/05\/offshore-law-firm-appleby-response-no-evidence-wrongdoing-paradise-papers\" target=\"_blank\" rel=\"noopener\">Appleby says<\/a>\u00a0it has investigated all the allegations, and found \u201cthere is no evidence of any wrongdoing, either on the part of ourselves or our clients\u201d, adding: \u201cWe are a law firm which advises clients on legitimate and lawful ways to conduct their business. We do not tolerate illegal behaviour.\u201d<\/p>\n<p><a href=\"https:\/\/www.theguardian.com\/news\/2017\/nov\/05\/paradise-papers-leak-reveals-secrets-of-world-elites-hidden-wealth\" target=\"_blank\" rel=\"noopener\">Originally published by The Guardian<\/a><\/p>\n<div class=\"media media-element-container media-default\">\n<div id=\"file-52476\" class=\"file file-image file-image-jpeg\">\n<div class=\"content\"><a class=\"lightbox-cont\" href=\"http:\/\/dc-9893-2013668155.us-east-1.elb.amazonaws.com\/sites\/default\/files\/field\/image\/1400-paradise-tight-1280x640.jpg\" data-lightbox=\"gal-1\"><img decoding=\"async\" loading=\"lazy\" class=\"media-element file-default\" title=\"Paradise Papers, tax evasion, offshore accounts, Cayman Islands, rising inequality, global inequality, Donald Trump\" src=\"http:\/\/dc-9893-2013668155.us-east-1.elb.amazonaws.com\/sites\/default\/files\/field\/image\/1400-paradise-tight-1280x640.jpg\" alt=\"Paradise Papers, tax evasion, offshore accounts, Cayman Islands, rising inequality, global inequality, Donald Trump\" width=\"1200\" height=\"600\" data-delta=\"1\" \/><\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"media media-element-container media-default\">\n<div id=\"file-52481\" class=\"file file-image file-image-jpeg\">\n<div class=\"content\"><a class=\"lightbox-cont\" href=\"http:\/\/dc-9893-2013668155.us-east-1.elb.amazonaws.com\/sites\/default\/files\/medialibrary\/paradise-papers-collage_colorcorrected.jpeg\" data-lightbox=\"gal-1\"><img decoding=\"async\" loading=\"lazy\" class=\"media-element file-default\" title=\"Paradise Papers, tax evasion, offshore accounts, Cayman Islands, rising inequality, global inequality, Donald Trump\" src=\"http:\/\/dc-9893-2013668155.us-east-1.elb.amazonaws.com\/sites\/default\/files\/medialibrary\/paradise-papers-collage_colorcorrected.jpeg\" alt=\"Paradise Papers, tax evasion, offshore accounts, Cayman Islands, rising inequality, global inequality, Donald Trump\" width=\"1200\" height=\"672\" data-delta=\"2\" \/><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MON, 11\/6\/2017 &#8211; BY\u00a0JULIETTE GARSIDE\u00a0(Occupy.com) \u00a0THIS ARTICLE ORIGINALLY APPEARED ON\u00a0THE GUARDIAN The world\u2019s biggest businesses, heads of state and global figures in politics, entertainment and sport who have sheltered their wealth in secretive tax havens are being revealed this week in a major new investigation into Britain\u2019s offshore empires. The&#8230; <a class=\"continue-reading-link\" href=\"https:\/\/occupysf.net\/index.php\/2017\/11\/10\/paradise-papers-leak-reveals-secrets-world-elites-hidden-wealth\/\"> Continue reading <span class=\"meta-nav\">&rarr; <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/6753"}],"collection":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=6753"}],"version-history":[{"count":1,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/6753\/revisions"}],"predecessor-version":[{"id":6754,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/6753\/revisions\/6754"}],"wp:attachment":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=6753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=6753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=6753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}