Three years by offshore leaks brings an international research network a new, even bigger case to light: hundreds celebrities from business, politics and sports should have hidden their money in offshore companies in Panama. FOCUS Online explains how to do that
A mailbox company in Panama, for example, managed there family wealth is exotic -. But first not illegal. That depends where the money comes from, which is applied in this company. Or where the income comes from which fed the assets.
But if the president of Argentina, the daughter of former Chinese Premier Li Xiaolin or one of the closest confidants of Vladimir Putin chose in Panama assets of such companies Manage, then probably something wrong. Because that’s the whole point of the company: That no one hears about
2.6 terabytes, eleven million documents
Now, hundreds, maybe even thousands of such shell companies are blown.. Journalists of the International Consortium of investigative journalists (ICIJ) the “Panama Papers” have evaluated, 2.6 terabytes of data, equivalent to about ten times the amount of data the offshore leaks in 2013. At that time the data mountain 260 gigabytes in size.
In the eleven million documents, including five million emails that researchers have found all sorts of prominent names. The documents submitted by the law firm Mossack Fonseca in Panama, short “Mossfon”. Its founder, Jürgen Mossack, is 68 – and German
parallels to offshore leaks
There are still a few details known exactly how the companies were constructed.. But it is very likely that the whole similarly proceeded as in the offshore leaks files whose shell companies were mainly located in the Cook Islands. Under the then unmasked tax evaders is also the 2011 deceased Playboy Gunter Sachs, who had parked over decades his millions in the Cook Islands
This is how the business with the secretive company.
step 1: establishment of a letterbox company
Not only a suntrap for their savings is important. The money will be managed and propagated. To this end, establish tax evaders shell companies in tax haven of their choice. They were helped in Panama law firm Mossack Fonseca. It procures company to its customers on an assembly line. Often they cost 1000 dollars and bear illustrious names. Join them are usually at the same address
. Step 2: A trustee is engaged
If is not to be known, who owns the money that you want to move there, you need a stooge , The beautiful word “trustee”. Thus, for example, a tax refugee none come to the ropes, this left a trustee commissioned to take care of the establishment and management of the company. Often lawyers perceive these tasks
In the case of offshore leaks of deceased Playboy Sachs had commissioned a Zurich law firm that founded his offshore companies and supervised
Step 3:.. Anonymity is the highest bid
the most important thing on the run from the Treasury for the super-rich in addition to the tax savings anonymity. Although they provide the money, but in particular they appear in any document on. The companies themselves are out on paper of straw men. After researching the “SZ” Mossack Fonseca allegedly providing its customers even with anonymous e-mail addresses, including absurd fake names like “Winnie the Pooh” and “Harry Potter”, “Fighter” or “Azkaban” or “father”, ” daughter “,” son “.
According to the” Sueddeutsche Zeitung “were using the front companies of the Registry Mossfon apparently broken sanctions, aided and abetted the evasion and worked with funds from illegal sources.
step 4: foundations as a haven for the assets
now it’s getting confusing. The letterbox companies often establish themselves societies: the so-called foundations. There ends up the money that would deprive the domestic tax authorities or other authorities of the settlor. He blurs the track to be always on. Stooges are for managing the foundations usually also responsible
It is also possible, in turn allocate a group of such companies a mailbox-holding company -. Then the construct is even more complicated and the money disappears completely from view of the authorities .
unless there is a file that reflects assigns each letterbox their original principal. That is now happening: The record that was the ICU leaked, called a spade a spade. He should come directly from the servers of Mossfon
. Step 5: The access to the money
The beneficiaries of foundations and companies are often family members. Fittingly, in the files of the “Panama Papers are often called close relatives:. The daughter of Chinese Premier Xi, the sister of King Juan Carlos, the nephew of South African President Zuma
The tax evaders even dive usually none of the companies on a beneficiary. it is therefore unusual that Argentina’s new president Mauricio Macri said to have been, according to the documents themselves managing such a letterbox company. Macri told the searchers with on request, if it were a family company, where he hold any shares.
the firm relies on legitimate businesses
Mossack Fonseca cites always been that incorporating companies for asset management is legal. that’s right. Even the Note, you do not work directly with end-users, but only with their intermediaries, ie banks or asset managers may be correct, but in this case appear to the services to have gone far beyond a normal switching out -. and also the purpose for which their clients contributed their money to Panama, is expected Jürgen Mossack and his partner Ramón Fonseca Mora not have escaped.
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