Sun and Shadows: How an Island Paradise Became a Haven for Dirty Money
Eventually they made their way to the offices of Zen Offshore, one of dozens of firms on the islands that set up hard-to-trace “shell companies” for clients around the world. They explained that they represented an individual who served as a “liaison officer between the Zimbabwean government and the rich diamond mines.”
For anyone who understands the nexus of corruption and money laundering in resource-rich, economically poor countries, this statement should have raised suspicions. But before they could go further, a Zen Offshore representative cut them off.
“Yep, we don’t want to know that,” he said, chuckling. “If we have knowledge of that, we have to put it forwards. So I haven’t heard a word you said in the last couple of minutes.”
The operative went on to explain how the pair could set up a company in Seychelles and hide the identity of who was really behind it by creating a labyrinthine ownership structure, putting “a company inside a company inside a company.”
The Seychellois company would be controlled by a company in Dominica, which would be controlled by a company in Belize, and so on. Anyone trying to discover the real owner would never be able to follow the paper trail around the world.
“It’s just impossible,” the Zen Offshore man said. “No one is going to try and chase that sort of information.”
But they must have been.... or they wouldn't have stolen the silver.
ReplyDeleteSun and Shadows: How an Island Paradise Became a Haven for Dirty Money
ReplyDeleteEventually they made their way to the offices of Zen Offshore, one of dozens of firms on the islands that set up hard-to-trace “shell companies” for clients around the world. They explained that they represented an individual who served as a “liaison officer between the Zimbabwean government and the rich diamond mines.”
For anyone who understands the nexus of corruption and money laundering in resource-rich, economically poor countries, this statement should have raised suspicions. But before they could go further, a Zen Offshore representative cut them off.
“Yep, we don’t want to know that,” he said, chuckling. “If we have knowledge of that, we have to put it forwards. So I haven’t heard a word you said in the last couple of minutes.”
The operative went on to explain how the pair could set up a company in Seychelles and hide the identity of who was really behind it by creating a labyrinthine ownership structure, putting “a company inside a company inside a company.”
The Seychellois company would be controlled by a company in Dominica, which would be controlled by a company in Belize, and so on. Anyone trying to discover the real owner would never be able to follow the paper trail around the world.
“It’s just impossible,” the Zen Offshore man said. “No one is going to try and chase that sort of information.”
http://www.icij.org/offshore/sun-and-shadows-how-island-paradise-became-haven-dirty-money
so what's to prevent a politician from doing this?
Hillary has a yarn to spin:
ReplyDeletehttp://peureport.blogspot.com/2014/06/clintons-went-from-millionaires-to-peus.html
She's not pulling up boostraps or panties, she's pulling one over on the American public.