The Pandora Papers expose the brazen greed that robs countries of tax revenue that could be used for the greater good, advocates say.
The report released Sunday by the International Consortium of Investigative Journalists involved 600 journalists from 150 media outlets in 117 countries. It's being dubbed the “Pandora Papers" because the findings shed light on the previously hidden dealings of the elite and the corrupt, and how they have used offshore accounts to shield assets collectively worth trillions of dollars.
“The new data leak must be a wake-up call,” said Sven Giegold, a Green party lawmaker in the European Parliament. “Global tax evasion fuels global inequality. We need to expand and sharpen the countermeasures now.” The latest bombshell is even more expansive, porting through nearly 3 terabytes of data — the equivalent of roughly 750,000 photos on a smartphone — leaked from 14 different service providers doing business in 38 different jurisdictions in the world. The records date back to the 1970s, but most of the files span from 1996 to 2020.
For instance, the investigation found advisers helped King Abdullah II of Jordan set up at least three dozen shell companies from 1995 to 2017, helping the monarch buy 14 homes worth more than $106 million in the U.S. and the U.K. One was a $23 million California ocean-view property bought in 2017 through a British Virgin Islands company. The advisers were identified as an English accountant in Switzerland and lawyers in the British Virgin Islands.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Leaked records open a 'Pandora' box of financial secretsHundreds of world leaders, powerful politicians, billionaires, celebrities, religious leaders and drug dealers have been hiding their investments in mansions, exclusive beachfront property, yachts and other assets for the past quarter-century, according to a review of nearly 12 million files obtained from 14 firms located around the world.
Read more »
Leaked records open a 'Pandora' box of financial secretsHundreds of world leaders, powerful politicians, billionaires, celebrities, religious leaders and drug dealers have been hiding their investments in mansions, exclusive beachfront property, yachts and other assets for the past quarter-century, according to a review of nearly 12 million files obtained from 14 firms located around the world.
Read more »
‘Venom 2’ Ignites Box Office With Record $90M OpeningThe Sony sequel hit pre-pandemic levels to come in well ahead of the first 'Venom,' as well as helping to fuel the biggest weekend overall since the COVID-19 crisis struck in North America.
Read more »
Box Office: ‘No Time to Die’ Eyes Record $113M Overseas OpeningThe long-awaited 25th James Bond movie is igniting moviegoing across the globe as it opens in 54 foreign markets a week ahead of its debut in North America.
Read more »