Article

2020-02-19 -Short Attention Span Theater-

US is a major hub of financial secrecy, says report

[Aljazeera] The United States is the world's most complicit country in helping individuals hide money from the rule of law, according to a new report from the Tax Justice Network (TJN). The network's findings come as Angola accuses Africa's wealthiest woman of siphoning public funds and moving the money offshore with the help of western consulting firms. The scandal has become known as the "Luanda Leaks".

Isabel dos Santos, the daughter of Angola's former president, is worth an estimated $2bn, according to Forbes magazine. The International Consortium of Investigative Journalists (ICIJ) claims dos Santos used an "army" of Western advisors to "hide assets from tax authorities".

"Isabel dos Santos, too, took advantage of a US secrecy jurisdiction. The Luanda Leaks documents show that dos Santos used a Delaware company to buy property in Portugal. Delaware is one of the easiest places to create a low-taxed, secretive company," said Fergus Shiel, Luanda Leaks project manager at the ICIJ.

Africa's first female billionaire is accused of using international tax havens to move and store her assets. In a televised interview, dos Santos told Al Jazeera the allegations levied against her are untrue.

Posted by Besoeker 2020-02-19 02:39|| || Front Page|| [11135 views ] Top

#1 Oh,really, try hiding it from the IRS. Why do you think Cayman accounts seem popular?

Posted by Procopius2k 2020-02-19 08:26|| 2020-02-19 08:26|| Front Page Top

#2 We sure do have a lot of politicians who are millionaires.

Posted by mossomo 2020-02-19 09:29|| 2020-02-19 09:29|| Front Page Top

#3 So, let's review - an Angolan broad is accused of buying property in Portugal via a Delaware company, and the big problem (natch) is … one of the world's freest and open financial marketplaces.

Uncle Sugar, the guilty party once again and forevermore.

Who writes crap like this? Morons and propagandists, that's who.

Posted by Raj 2020-02-19 09:44|| 2020-02-19 09:44|| Front Page Top

#4 a US secrecy jurisdiction

I have no idea what those words even mean, but try bringing $10,000 in cash to Citibank and see what happens.

Posted by Crereng Flaiper1589 2020-02-19 13:45|| 2020-02-19 13:45|| Front Page Top

#5 Why should the Swiss have all the fun?

Posted by Abu Uluque 2020-02-19 13:50|| 2020-02-19 13:50|| Front Page Top

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