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From the Guardian: Offshore finance: more than £12tn siphoned out of emerging countri

Lafayette

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Excerpt:
More than $12tn (£8tn) has been siphoned out of Russia, China and other emerging economies into the secretive world of offshore finance, new research has revealed, as David Cameron prepares to host world leaders for an anti-corruption summit.

A detailed 18-month research project has uncovered a sharp increase in the capital flowing offshore from developing countries, in particular Russia and China.

The analysis, carried out by Columbia University professor James S Henry for the Tax Justice Network, shows that by the end of 2014, $1.3tn of assets from Russia were sitting offshore. The figures, which came from compiling and cross-checking data from global institutions including the International Monetary Fund and the United Nations, follow the Panama Papers revelations of global, systemic tax avoidance.

Chinese citizens have $1.2tn stashed away in tax havens, once estimates for Hong Kong and Macau are included. Malaysia, Thailand, and Indonesia – all of which have seen high-profile corruption scandals in recent years – also come high on the list of the worst-affected countries.

The fraud is at a massive level and it is truly global in nature.

Most afraid of any investigation likely are the "Putin Mob" that expropriated state enterprises (and particularly the more lucrative Mineral-Source companies), and had them privatized. When in fact they were (by law) the property of the Russian people ...
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Excon

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Re: From the Guardian: Offshore finance: more than £12tn siphoned out of emerging cou

The fraud is at a massive level and it is truly global in nature.
1. You failed to provide a link.
2. You have not pointed out any actual fraud. The actual article is heavy on allegation yet absent evidence to support the allegations.
 

Lafayette

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Re: From the Guardian: Offshore finance: more than £12tn siphoned out of emerging cou

1. You failed to provide a link.
2. You have not pointed out any actual fraud. The actual article is heavy on allegation yet absent evidence to support the allegations.

You're right, here it is: Offshore finance: more than $12tn siphoned out of emerging countries (Of course, you could have just googled the title.)

As for your second comment, it's pitiful. The first line of the article indicates fraud.

Excerpt from Fortune Magazine:
The huge international project involved 100 media partners, but few major U.S. outlets.

A quiet spring weekend was suddenly shattered on Sunday when news of the “Panama Papers” investigation broke. The massive international project involved approximately 400 journalists across 75 countries, plowing through roughly 11.5 million documents from a secretive Panamanian law firm specializing in creating offshore holding companies.

The investigation took more than a year, commencing after Bastian Obermayer, a reporter for the German newspaper Suddeutsche Zeitung, was contacted by a still-unknown figure. The source asked whether the paper wanted access to 40 years worth of information from the Panama firm, including the details of holding companies and accounts related to dozens of prominent European politicians.

Suddeutsche Zeitung subsequently partnered with the International Consortium of Investigative Journalists, which in turn is an arm of the U.S.-based nonprofit Center for Public Integrity. By the time the project was complete, hundreds of journalists from more than 100 media outlets around the world had worked on the investigation.

The Panama Papers leaked to the press present the foundation for an allegation of fraud. Eleven and a half million documents going back 40 years are a journalistic "fraud"?

If the word so upsets you, disprove the allegations.

(Who are you working for, Mossack Fonseca in Panama City?)
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Lafayette

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Re: From the Guardian: Offshore finance: more than £12tn siphoned out of emerging cou

And whilst on the subject of political corruption, here's one more hot off the press from the Guardian: The $10bn question: what happened to the Marcos millions?

Excerpt regarding, when a corrupt Marcos was deposed, his flight to safety ... in Hawaii:
The problem for these governments was that they had turned a blind eye while their companies had waded into the muck alongside Marcos – taking his money without asking where it came from. In some cases, Marcos, in turn, had paid bribes to senior politicians and made illegal contributions to election campaigns, including those of US presidents Jimmy Carter and Ronald Reagan. (When this surfaced in 1986, they said they had not known where the money came from.)

A PCGG veteran of nearly 30 years has a special frustration with the US. He says they have never handed over all the paperwork seized from Marcos when he arrived in Hawaii, and he flicks through the copies he has: “See? Some pages which are blank, some inventory pages which are blank. We think they have redacted transactions involving US organisations. They were partners in theft.” And he pauses to consider how the US would react if some other nation seized evidence of their most prolific criminal and handed it over in redacted form.

The pattern of impunity was set. In Seattle in December 1989, a jury found that the Marcoses were implicated in a plot to murder two Filipino union activists who had been shot there in 1981. The jury ordered them to pay $15.1m compensation to the victims’ families. The money has not been paid. In Hawaii in 1995, a court found the regime had abused the human rights of thousands who’d been tortured and killed, and ordered that Ferdinand’s estate pay nearly $2bn compensation. Less than 1% of that has been paid. Having returned to Manila, in September 1993 Imelda was convicted of personally defrauding the state in a land deal while Marcos was still in power. She was sentenced to 18 years in prison but bailed while she lodged an appeal. Five years later the supreme court threw out her conviction on technical grounds.

Jimmy Carter? Yikes ... !
 

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Re: From the Guardian: Offshore finance: more than £12tn siphoned out of emerging cou

I could have just googled the title?
How in the world do you think I was able to provide the above link at #1 in the first pace?
Oy Vey! You even quoted it.


2. You have not pointed out any actual fraud. The actual article is heavy on allegation yet absent evidence to support the allegations.
As for your second comment, it's pitiful. The first line of the article indicates fraud.
No.
Again. Heavy on allegation yet absent any such evidence.

Come back when you actually have evidence of fraud.


The Panama Papers leaked to the press present the foundation for an allegation of fraud. Eleven and a half million documents going back 40 years are a journalistic "fraud"?
Journalistic fraud?
Your response seems to be emotional, so much so that you are now on to something that was not even said.

Again. Heavy on allegation yet absent any such evidence.


If the word so upsets you, disprove the allegations.
WTF?
Like I said. Emotional.
I do not have to disprove your allegation.
It is on you to support your claim. Not on others to search the internet to support what you, by your article, alleges.


Pointing out that the allegation hasn't been supported is a complete refutation until such time that the allegation is supported.

Do you really not know the difference between an allegation and evidence to support said allegation?


Jimmy Carter? Yikes ... !

Just more unsupported allegations.

Maybe you should have bothered to look into it before commenting.


From March of 1986.


Marcos Papers Raise New Questions
By Dave Russakoff, Keith B. Richburg, Washington Post Staff Writers;
Contributing to this report were staff writers Paul Taylor and Thomas B. Edsall

March 20, 1986


[...]

Several sources who have seen the document described it as a balance sheet dated February 1982, recording contributions of $50,000 each to the 1980 Carter and Reagan campaigns, $10,000 to Cranston, and much smaller amounts to other state and local officials in California, including "S.F. Mayor D.F." (presumed to be San Francisco Mayor Dianne Feinstein) and Leo McCarthy, California lieutenant governor.

The list of contributions, typed on a plain sheet of paper, provides no evidence that the contributions were received by the various campaigns. All candidates named on the list and contacted by reporters have said they had no knowledge of receiving campaign money from Marcos or his associates.

[...]

Marcos Papers Raise New Questions


No evidence that it actually happened.
 

Lafayette

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Re: From the Guardian: Offshore finance: more than £12tn siphoned out of emerging cou

No evidence that it actually happened.

Right, Marcos was an angel of a man, and his wife is an angel of a woman.

And the Guardian invented its reportage.

What planet do you live on ... ?

M... R... A...
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Lafayette

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Re: From the Guardian: Offshore finance: more than £12tn siphoned out of emerging cou

Right, Marcos was an angel of a man, and his wife is an angel of a woman.

The Marcos were angels, and the Guardian invented its reportage.

WikiPedia about Marcos, excerpt:
He was elected President in 1965. During his term, the Philippine national debt grew from $2 billion to almost $30 billion—which he used to fund development projects, about USD5 to USD10 billion of which the Marcos family had plundered, according to source documents provided by the Corazon Aquino-created Presidential Commission on Good Government.

On September 23, 1972, Marcos placed the Philippines under martial law, during which he revamped the constitution, silenced the media, and used violence and oppression against political opposition. A 1976 Amnesty International report had listed 88 government torturers.

What planet do you live on ... ?

M... R... A...
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Re: From the Guardian: Offshore finance: more than £12tn siphoned out of emerging cou

Right, Marcos was an angel of a man, and his wife is an angel of a woman.

And the Guardian invented its reportage.

What planet do you live on ... ?

M... R... A...
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Ah hello!
Are you lost again?
As you are still lost I would suggest asking yourself the question you provided, which was; "What planet do you live on ...?"

We are speaking about your claims of fraud in your initial post. The article you initially failed to link to dose not provide any actual evidence to support your allegation.

Deflecting from that to a Carter/Reagan allegation when their is no actual evidence to show any such contributions were made, received or even requested, was as irrational as it was asinine. Continuing to deflect with Marcos when it has nothing to do with your initial post and the reply to it comment even more irrational.
 
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