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Paradise Papers Spurring Criminal Investigations

By Koos Couvée

The leak of confidential records known as the Paradise Papers is not only leading to renewed scrutiny of tax havens, but, as with a similar leak last year, already generating criminal investigations into suspected illicit finance. The trove of 13.4 million documents obtained by German newspaper Süddeutsche Zeitung and the International Consortium of Investigative Journalists from Bermuda-based law firm Appleby, a smaller, Singapore-based trust company, Asiaciti, and corporate registers in 19 offshore locales further exposes how multinational companies avoid taxes and how the super-rich hide their wealth in jurisdictions known for their financial secrecy. Like the Panama Papers, which were...

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