Massive leak of data reveals money-hiding secrets of the super-rich

[Stevicus]

Massive Leak of Data Reveals Money-Hiding Secrets of Superrich—and This Is 'Only the Beginning'

A massive trove of documents, data, and recorded phone calls showing how British company Formations House works to hide money for the superrich is being reported on by journalists all over the world, with the first stories dropping at midnight on Wednesday.

The reporting is being done under the name "29 Leaks," a reference to Formations House's original address at 29 Harley Street in London. The data was leaked to the group Distributed Denial of Secrets over the summer.

https://www.facebook.com/formationshouse/photos/a.546278012219235/840465606133806/

According to Unicorn Riot, reporting from the data will have an international scope:

Formations House has been the subject of international scrutiny for years, and the #29Leaks documents have been under investigation for some time. It is expected that news stories in Central America, Africa and Europe will examine information drawn from this set of leaks. The use of Formations House-managed companies to move money around between offshore and private banking centers like Luxembourg and other parts of the world is among the main themes of this dataset. Other documents expected to be covered in detail show how the African nation of The Gambia is commonly used to create banks and insurance companies on paper for wealthy people in other continents, which Formations House and related parties package and facilitate.

On Tuesday The Times of London showed, via undercover reporting, how Formations House sets up shell companies for its clients.

Thomas Jefferson once wrote that "banking establishments are more dangerous than standing armies." But with a lot of these small, offshore countries, I think the US Army could probably handle them pretty easily, just like with Grenada.

Is it conceivable that these offshore tax havens, given that they are enablers of organized crime and money laundering, could be considered threats to global security?

 

[Revoltingest]

Could you summarize the best tips?
(I could use more money.)

 

[Kangaroo Feathers]

Remember the Panama Papers? Remember how nothing came of them?

 

[shmogie]

Massive Leak of Data Reveals Money-Hiding Secrets of Superrich—and This Is 'Only the Beginning'




Thomas Jefferson once wrote that "banking establishments are more dangerous than standing armies." But with a lot of these small, offshore countries, I think the US Army could probably handle them pretty easily, just like with Grenada.

Is it conceivable that these offshore tax havens, given that they are enablers of organized crime and money laundering, could be considered threats to global security?

The whole concept of globalism is a threat to each American citizen.

Any entity that allows one to avoid taxes on income or capital gains, is patently unfair, and a threat to national security in that money that is the governments due is withheld, when it could be spent for security purposes.

 

[shmogie]

Could you summarize the best tips?
(I could use more money.)

What do you think about living on Grenada ? Very low taxes there, I understand.

 

[exchemist]

Remember the Panama Papers? Remember how nothing came of them?

Ninja'ed!

Exactly my thoughts. What a damp squib that was. As I recall they seemed to discover that David Cameron's dad had been a stockbroker. And, er, that was about it - oh wait, wasn't there some politician, in Iceland was it(?), who had done something underhand?

I will get interested in this one once the serious news media start to take an interest. At the moment if I search for 29Leaks all I get is a lot self-promotion, from a handful of unknown and self-described investigative journalists.

 

[Revoltingest]

What do you think about living on Grenada ? Very low taxes there, I understand.

But it's too far from the best engine shows.

 

[Vinayaka]

Could you summarize the best tips?
(I could use more money.)

Hide yer money inside old engine cylinders.

 

[Revoltingest]

Hide yer money inside old engine cylinders.

What if someone starts the engine?
All the money goes up in smoke!

 

[Vinayaka]

What if someone starts the engine?
All the money goes up in smoke!

Your old engines still start?

(Some old farmers who didn't trust the banks hid cash on their farms. A friend of mine, when her FIL passed, they discovered he had tobacco cans stuffed with rolls of cash at the bottom of his freezer. 7 cans, each labelled with a kid's name, and 10 grand in each can. As he got senile, he hid it everywhere, like in the gun barrels of his gun collection, or in metal pipes.)

 

[sun rise]

This is apparently a made up quote which the internet told me was, among other things, attributed to a dead man at one point. But there's an element of truth here anyway:

Permit me to issue and control the money of a nation, and I care not who makes its laws!

 

[PureX]

Massive Leak of Data Reveals Money-Hiding Secrets of Superrich—and This Is 'Only the Beginning'




Thomas Jefferson once wrote that "banking establishments are more dangerous than standing armies." But with a lot of these small, offshore countries, I think the US Army could probably handle them pretty easily, just like with Grenada.

Is it conceivable that these offshore tax havens, given that they are enablers of organized crime and money laundering, could be considered threats to global security?

But considered by whom? Anyone that could effect change is in on it.

 

[Revoltingest]

Your old engines still start?

(Some old farmers who didn't trust the banks hid cash on their farms. A friend of mine, when her FIL passed, they discovered he had tobacco cans stuffed with rolls of cash at the bottom of his freezer. 7 cans, each labelled with a kid's name, and 10 grand in each can. As he got senile, he hid it everywhere, like in the gun barrels of his gun collection, or in metal pipes.)

I have a few which start & run.

This one is a work in progress...making improvements.

 

[Vinayaka]

I have a few which start & run.

This one is a work in progress...making improvements.

I've seen a few in museums ... they are amazing.

 

[Revoltingest]

I've seen a few in museums ... they are amazing.

And fun to play with!

 

[Twilight Hue]

What ever happened to the good ole' Swiss bank account?

 

[Vinayaka]

But it's too far from the best engine shows.

But Granadas did have engines.

 

[shmogie]

But it's too far from the best engine shows.

What kind of engines hold your interest ? Steam, gas, hit and miss, donkey ? I have had a life long interest in steam traction engines, especially the British ones.

 

[Stevicus]

What ever happened to the good ole' Swiss bank account?

I guess it had too many holes.

 

[Revoltingest]

What kind of engines hold your interest ? Steam, gas, hit and miss, donkey ? I have had a life long interest in steam traction engines, especially the British ones.

All engines....gasoline, oil, gas, Stirling, steam, water, hit'n miss, throttle governed, portable, traction.
I have no traction engines, which tend to be big, & demanding of attention to run.
But I do have a British portable steam engine....1869 Brown & May in original condition.
(It needs some boiler work.)

Those British road engines are indeed fancy.
But some Ameristanians have their charm.
A 150 hp Case is one impressive beast.