Slashdot Mirror
Massive Data Leak Reveals How the Ultra Rich Hide Their Wealth
bshell writes "According to the CBC, there was a massive leak of 'files containing information on over 120,000 offshore entities — including shell corporations and legal structures known as trusts — involving people in over 170 countries. The leak amounts to 260 gigabytes of data, or 162 times larger than the U.S. State Department cables published by WikiLeaks in 2010...In many cases, the leaked documents expose insider details of how agents would incorporate companies in Caribbean and South Pacific micro-states on behalf of wealthy clients, then assign front people called "nominees" to serve, on paper, as directors and shareholders for the corporations — disguising the companies' true owners.' Makes a good read and there are some good interactive components. Perhaps Slashdot readers can figure out how the source of the leak, the D.C.-based International Consortium of Investigative Journalists got their hands on this data."
now I need to buy a new island too.
so.... Occupy Wallstreet is still just a bunch of lazy malcontent college hippies?
The biggest question I have, now that the general public is also aware of how the ultra rich "hide" their money (and oftentimes to avoid taxation):
What are the politicians going to do to address these loopholes?
Move their money elsewhere.
It's almost as if there's an enormous amount of the population between the super rich and the poor. It might even be an important group. Maybe the middle class or something?
I hear they're working on that problem, and it should be taken care of in the next few years.
I put all my money in an offshore account in Cyprus. I am pretty sure it is all tucked away and safe there.
I haven't thought of anything clever to put here, but then again most of you haven't either.
I'll have you know I'm poor, and quite Intelligent. Whats dichotomy mean??