To begin if these are secret stashes of money they probably haven't paid taxes. But, in the case of government officials, elected or not, hiding stashes of cash, their interests change and they make policy to protect their secret hideaways, make it legal to place monies offshore and make policies that benefit their interests in these investments.
There are times when I read a bill or an article about a law passed by a governing authority that causes pause. I think what the heck is that all about because it is out of the mainstream of governance. Well, here it is. People with power hide their money and make policy to protect it and benefit it.
By Yelena Dzhanova
Dozens of current and former world leaders, billionaires, rockstars, and government officials (click here) have stashed billions of dollars in secret offshore accounts, according to an investigation conducted by the International Consortium of Investigative Journalists.
The trove of documents, called the Pandora Papers, is a collection of nearly 12 million financial records that detail the existence of over 29,000 offshore accounts, the Washington Post, the Guardian, the BBC, and other outlets reported on Sunday. That's twice as many as the collection uncovered by the Panama Papers, a leak that exposed millions of financial and legal records and revealed the offshore holdings of powerful and influential people worldwide.
The findings of the documents, which will be rolled out in a series of stories over the next week, expose the secret offshore finances of about three dozen world leaders, including current and former presidents, prime ministers, and heads of state. The finances of about 100 billionaires and people of extreme wealth are also included in the trove. "Many use shell companies to hold luxury items such as property and yachts, as well as incognito bank accounts," the Guardian reported....
