This past Sunday, the International Consortium of Investigative Journalism released the Paradise Papers, a new trove of documents showing the opaque networks, shell companies, and gaping regulatory loopholes that the world’s wealthy use to stash their gains abroad. The revelations therein are still sending shockwaves through Western capitals: From London, where the papers are raising questions about a top Conservative Party donor’s efforts to hide his wealth in Bermuda and Belize, to Washington, where Commerce Secretary Wilbur Ross is facing scrutiny over his stakes in a shipping company linked to Vladimir Putin’s son-in-law. Elsewhere, the reputational damage has engulfed everyone …read more
Source: The American Interest
