Headline Roundup • October 4th, 2021
Leaked Pandora Papers Show Tax Havens for Rich and Famous
Summary from the AllSides News Team
A new report by the International Consortium of Investigative Journalists reveals how politicians, leaders and billionaires worldwide have used offshore financial accounts to shield assets worth billions of dollars over the past 25 years. Dubbed the “Pandora Papers,” the nearly 12 million documents show tax-dodging by 14 firms to hide the fortunes of hundreds of clients such as Jordan’s King Abdullah II, former British Prime Minister Tony Blair, art collector Douglas Latchford and pop singer Shakira. Russian President Vladimir Putin is not directly named in the records, but the report claims his alleged mistress holds assets worth roughly $100 million. Although having secretive offshore assets is not illegal, criminal monetary proceeds can be concealed using a complex network of secret companies to move around assets and money.
The report was covered across the spectrum.
Featured Coverage of this Story
Illustration: Guardian Design
In September 2003, a secret transaction took place. The location was Monaco, a tax haven associated with the international rich. Specifically, an exclusive block just beneath its lavish casino. An apartment changed hands. A local notary signed the deal. Purchase price: €3.6m (£3.1m). For this, the buyer got a luxury fourth-floor flat, two parking spaces, a storeroom, and the use of a pool in the Monte Carlo Star complex.
From the balcony the new owner could gaze down on Monaco’s sparkling marina, stuffed during the summer with floating superyachts. Security ensured...
BBC News
The Pandora Papers is a leak of almost 12 million documents that reveals hidden wealth, tax avoidance and, in some cases, money laundering by some of the world's rich and powerful.
More than 600 journalists in 117 countries have been trawling through the files from 14 sources for months, finding stories that are being published this week.
The data was obtained by the International Consortium of Investigative Journalists (ICIJ) in Washington DC, which has been working with more than 140 media organisations on its biggest ever global investigation.
BBC Panorama and the...
Getty Images
A massive trove of newly released confidential records exposes lucrative tax havens for some of the world’s most rich and powerful figures, from Jordan’s king to former British Prime Minister Tony Blair and spicy pop singer Shakira — and even an underground art dealer whose collections have been displayed at The Met.
Dubbed the “Pandora Papers,” the records consist of nearly 12 million documents detailing systematic tax-dodging by 14 firms that use off-shore bank accounts that hide the fortunes and assets of hundreds of wealthy clients.
Rich corporations and individuals used shell...
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