EconomicNews Briefs

Pandora Papers Detail the Offshore Wealth of the Global Elite

A massive trove of private financial records shared with The Washington Post and other news outlets exposes vast reaches of the secretive offshore system used to hide billions of dollars from tax authorities, creditors, criminal investigators and — in 14 cases involving current country leaders — citizens around the world.

The revelations include more than $100 million spent by King Abdullah II of Jordan on luxury homes in Malibu, Calif., and other locations; millions of dollars in property and cash secretly owned by the leaders of the Czech Republic, Kenya, Ecuador and other countries. It also highlights South Dakota as a new jurisdiction used opaque financial entities looking to obscure considerable wealth.

Full Story: Pandora Papers Detail the Offshore Wealth of the Global

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