Pandora Papers: Newly revealed docs expose tax havens for rich and famous

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from New York Post,

A massive trove of newly released confidential records exposes lucrative tax havens for some of the world’s most rich and powerful figures, from Jordan’s king to former British Prime Minister Tony Blair and spicy pop singer Shakira — and even an underground art dealer whose collections have been displayed at the Met.

Dubbed the “Pandora Papers,” the records consist of nearly 12 million documents detailing systematic tax-dodging by 14 firms that use offshore bank accounts that hide the fortunes and assets of hundreds of wealthy clients.

Rich corporations and individuals used shell companies and secret trusts to hide assets ranging from yachts and jets to mansions and insurance policies.

The records, the largest-ever leak of confidential documents, were compiled and released by the International Consortium of Investigative Journalists, a worldwide coalition of media organizations.

Among those nabbed with offshore accounts are 35 current and former world leaders, including Jordan’s King Abdullah II, who had hidden $106 million from the purchase of mansions in Malibu and elsewhere, according to a report in the Washington Post.

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