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."

Comments

I worked at the CBC for 2 years

[Anonymous Coward]

I wouldn't trust or believe any "news" that comes from there.

Unionized workers that hold no accountability for false information.

Note this is not the "top 1%"

[daveschroeder]

These are the kinds of people the Occupy crowd always railed on as the "top 1%". They may be /in/ the top 1%, but they're nowhere representative of it. These people are, quite literally, less than the top 1% /of/ the top 1%.

Of course, the Occupy folks don't care about this, as their true, stated aim was simply opposing capitalism, "consumerism", and pitting Americans against Americans in some kind of imagined class warfare, when the vast majority of the "top 1% are the employers and business owners who are part of the solution, not the imagined fat cats on yachts in top hats sipping champagne and lighting cigars with 100s.