Panama Papers: Here’s where some of the world’s largest banks legally hide cash for rich clients

ubs-ag-london--43-offshore-entities-twenty-nine-ubs-units-and-people-are-listed-in-the-database-as-having-offshore-entities-or-as-being-a-director-of-one{BUSINESS INSIDER} The International Consortium of Investigative Journalists just published a huge database, dubbed the Panama Papers, that shows how some of the world’s wealthiest and most powerful people legally hide their cash.

Nestled within the database of 200,000 companies, trusts, foundations, and funds incorporated in 21 countries is information about where many of the world’s largest banks legally shelter cash for rich people.

The findings of the Panama Papers investigation were first unveiled at the beginning of April.

Over 11 million documents held by the Panama-based law firm Mossack Fonseca were leaked to the German newspaper Süddeutsche Zeitung, which shared the information with the ICIJ, an organisation made up of 107 media companies in 78 countries READ MORE

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About Cholo Brooks 13335 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.