MOSCOW—The thousands of Russian names on a list of offshore companies suggests President Vladimir Putin’s effort to crack down on such entities is ineffective, experts say, and highlights how keeping wealth abroad remains one of the few ways to keep it safe from corrupt local officials.
A database published by investigative journalists on Monday showed over 6,000 Russian citizens and legal entities own or manage offshore companies through Panamanian law firm Mossack Fonseca. Spanning over two decades, the data showed no decrease in the number despite the government’s efforts.
The documents have sparked public outrage and investigations in the West but in …read more
Source: The Epoch Times
