Thursday, April 11, 2013

Trillions of Dollars in billionaire's offshore accounts is really stolen money from stock,financial fraud


Trillions of Dollars in billionaire's offshore accounts is really stolen money from stock,financial  fraud

It is not just that trillions of dollars of American money lingers in offshore accounts and thus avoid taxes,it is the fasct that both the U.S.SEC as well as the IRS have been complicit in the frauds and have overtly aided and abetted the perpetrators.And it is probably no coincidence that the the IRS and the SEC have been infiltrated by Zionists with little or regard for Americans they are supposed to serve and protect otherwise
the system itself has no value or reason to exist. Ex SEC Chair Christopher Cox who as a California Conngressman from Orange County used his position in the 1990's to tear down all previous post depression laws and protections against corrupt bankers and financiers and later as W Bush's SEC Chair,
he used his position to aid and abet securities fraud rather thasn combat it and eventually lied outright to investors on the SEC's on investor education website sec.gov and claimed in 2008 the Fannie Mae Freddie Mac a myriad financial and banking corporations stock price fell due to 'naked short selling' - a lie began by his probably 'friend' James Dale Davidson of the founder of CIA and Rothschild connected Agora Inc of Baltimore as well as the National Taxpayers Union located a few blocks from the main SEC headquarters in Alexandria,Virginia !
When the CIA's and UK Rothschild prostitute Porter Stransberry and his 'conspiracy theorist' pal Alex Jones use far mongering in their endofamerica2011.com ads on CNN and CNBC and Fox etc.,  and Stansberry brags of 'predicting' the financial collapse of Fannie Mae and other corporate entities he does
not mention that he as an insider to major securities frauds perpetrated at the highest levels of international finance and manipulation that he ought to know and be arrested as an insider to onme of the largest transfers of wealth in world history from onshore accounts filled with  high priced shares of various public finance and  corporations' stock including those of Goldman Sachs  to no value shares who former dollar value has been siphoned off by insider looting and insider dumping from offshore accounts.All of this done in the chaos of
fraudulently declared wars instigated on and by the lies of 9/11/01 when whatever semblence of regulation that existed previously was thrown by the way to lubricate the wheels of war and as a form of taxation without representation to tske from the middle class and give to the financial military industrial complex who
even went so far as to claim ones wothless shares collapsed due to 'naked short selling' !



IRS Commisioner Douglas Shulman  was a former hedge fund scamster meaning that his appointment by W Bush and endorsement by Barack Obama is an endorsement of stock and financial frauds and protection of offshore individualand hedge fund accounts around the world including in Switzerland where hulman used his postion to cover up tax cheats and thus money laundering accounts there as elsewhere !Ex SEC Chair Mary Schapiro who Obama or Barry Seotoro appinted to replace te corrupt Chris Cox is again Jewish and Zionist and her history of working with the likes of Bernie Madoff as well as Douglas Schulman in policing the very stock marlekets they had a conflict of interst in.Both Schaspiro and IRS Shulman are guilty in selling 20%+ interest in the NASDAQ to Sheik Maktoum Al Rashid bin MAKTOUM who in turn allows it to be controlled by Jewish Zionists who he is so closely allied to and who use our markets for fraud and money laundering against us.Mycomplaint is not that women have run the SEC since Cox slipped out of office lieing about 'naked short selling' in 2008 - but the very fact that all 3 women are Jewish ! This is an example of why I truly believe in affirmative action which would not allow such a small minority with a conflict of interest and allegience to Israel over America..









Journalists Expose Trove of Hidden Offshore Bank Accounts Around the World


Making Sense of Trillions in Offshore Dollars

New York Times (blog)-Apr 5, 2013
How do you present 260 gigabytes of international financial documents, revealing trillions of dollars in undisclosed wealth? As my colleagues ...




  • Making Sense of Trillions in Offshore Dollars - NYTimes.com

    thelede.blogs.nytimes.com/.../making-sense-of-trillions-in-offs...CachedShare
    Apr 4, 2013 – One valuable hard drive, containing hundreds of gigabytes of financial documents, has exposed the identities of thousands of people who ...


    1. Chase Down Mega-Rich Tax Cheats and Recover the Offshore ...

      ThisCantBeHappening!-Apr 6, 2013
      ... corrupt politicians and business executives are hiding what reportedly totals between $29 trillion and $32 trillion in offshore tax havens.
    2. Letter: Tax loopholes allow rich to hide trillions offshore

      Albany Times Union-8 hours ago
      Conservative thinkers tell us the best way to balance the budget is to cut social programs like Medicare, Medicaid and Social Security.
    3. Continuing our investigation into the trillion-dollar world of offshore ...

      The Center for Public Integrity-22 hours ago
      The exact value of wealth held offshore in tax havens is hard to come by, but it is estimated to encompass $21-32 trillion in private financial ...
    4. European Union Loses 1 Trillion Euros Each Year To Tax Dodging

      Huffington Post-3 hours ago
      ... European Union to lose around 1 trillion euros of income each year, ... the world's biggest offshore banking centre with $2 trillion in assets, ...
    5. Six EU Nations Seek Bank Detail Sharing; Austria Resists

      Bloomberg-8 minutes ago
      ... is 1 trillion euros ($1.3 trillion) of lost tax revenue as many European ... and admitted having an offshore bank account following months of ...





    ..........


     http://www.forbes.com/sites/erikakelton/2013/04/05/anonymous-whistleblower-behind-expose-of-massive-offshore-corruption-by-banks-and-others/


     Anonymous Whistleblower Behind Expos√© Of Massive Offshore Corruption By Banks And Others



    The enormous value of whistleblowers has once again been demonstrated with the release this week of an investigation by the International Consortium of Investigative Journalists into off-shore holdings of people and companies in more than 170 countries and territories hiding trillions of dollars in income and assets.
    Deutsche Bank
    Deutsche Bank was one of the banks the ICIJ report said has provided customers with "secrecy-cloaked companies" in offshore hideways. (Photo: Wikipedia)
    An anonymous whistleblower sent to the ICIJ 2.5 million electronic files containing what the organization calls “the biggest stockpile of inside information about the offshore system ever obtained by a media organization.”
    Kudos to the 86 journalists from 46 countries who analyzed the data and followed up with additional reporting to put together the incredible and detailed expose, “Secrecy for Sale: Inside the Global Offshore Money Maze.”


    But the biggest kudo should go to the whistleblower who had the guts to expose a high-stakes, secretive world that fosters and hides large-scale fraud, money laundering, tax evasion, corruption and other wrongdoing.
    The investigation looked into what it called “a well-paid industry of accountants, middlemen and other operatives” that has “helped offshore patrons shroud their identities and business interests, providing shelter in many cases to money laundering or other misconduct.”
    This industry, the report says, includes many of the world’s top “brand-name” banks, including UBS, Clariden and Deutsche Bank, that “have aggressively worked to provide their customers with secrecy-cloaked companies in the British Virgin Islands and other offshore hideaways.”
    Deutsche Bank, for example, created and help manage 309 offshore companies and trusts through its Singapore branch, the journalists reported. The ICIJ report has prompted plans by German’s Financial Supervisory Authority (BaFin) to investigate Deutsche Bank to see if the bank is systematically violating or helping people to violate tax law, according to a German newspaper report.
    “Clariden, owned by Credit Suisse, sought such high levels of confidentiality for some clients, the records show, that a TrustNet official described the bank’s request as ‘the Holy Grail’ of offshore entities — a company so anonymous that police and regulators would be ‘met with a blank wall’ if they tried to discover the owners’ identities,” the report said.
    Let’s hope that those same companies behind these offshore accounts also are “met with a blank wall” as they try to track down the whistleblower who exposed these carefully hidden accounts. Let’s hope also that the whistleblower who has risked so much might realize a financial reward for what she or he exposed.
    If only the Internal Revenue Service grasped the value of information from whistleblowers as quickly as the ICIJ did. This report should push the IRS to investigate any U.S. citizens and companies that are named in the ICIJ report and also prompt the IRS to act on the valuable information it has received from hundreds of whistleblowers but that now languishes from lack of attention or follow through.



    Journalists Expose Trove of Hidden Offshore Bank Accounts Around the World



    http://www.pbs.org/newshour/bb/business/jan-june13/accounts_04-05.html


     Journalists Expose Trove of Hidden Offshore Bank Accounts Around the World


    JEFFREY BROWN: Next: With Tax Day looming for millions of Americans, a new investigation exposes the global use of offshore bank accounts to hide trillions of dollars and evade laws.
    Again to Hari, who has the story.
    HARI SREENIVASAN: Uncovering the complex workings of offshore tax havens has led to one of the largest cross-border collaborations ever between journalists.
    The International Consortium of Investigative Journalists has been combing through more than two million files of financial transaction data for more than a year. It's taken this long because the digital file size is 160 times larger than the State Department cables published by WikiLeaks in 2010.
    A team of 86 investigative journalists from 46 countries has collectively examined more than 120,000 offshore accounts belonging to individuals and companies from more than 170 countries. The records show how government officials and individuals in a number of countries use covert accounts and companies to shield their wealth and how some of the top global banks work within these offshore tax havens as well.
    The investigation is already leading to a series of reports, including one spotlighting the transactions of a Canadian senator's husband, who has hidden money from their equivalent of the IRS, an Australian tied to arms dealing through shell companies, and a Mongolian lawmaker who may resign over the revelations of his finances overseas.
    Gerard Ryle directs the International Consortium of Investigative Journalists and joins us to discuss the findings.
    Thanks for being with us.
    GERARD RYLE, International Consortium of Investigative Journalists: It's good to be here.
    HARI SREENIVASAN: So, first of all, how did you get this trove of information? What is the data?
    GERARD RYLE: Well, the data is an enormous amount of sort of very unstructured data. It's got documents, spreadsheets, financial transactions, e-mails.
    And it came about because of a long investigation I did in Australia about a fraud that effectively led me to this world, this secret world that I knew nothing about, which was the world of offshore.
    HARI SREENIVASAN: So, in this report, you say that it's not just the super-rich and the super-powerful, but it's more pervasive. Explain that.
    GERARD RYLE: Well, it was probably the biggest surprise that I found.
    I initially thought that the people that you expect to use tax havens are the super-wealthy. But when you look at this world, you find that it's not just the super-wealthy that are using it. It is the sort of moderately wealthy. And it pervades right down through society to doctors, dentists, you know, small-time developers.
    They have all discovered this world. And they're all using it.
    HARI SREENIVASAN: And you said that it contributes to fraud, tax dodging and enables political corruption. Explain that.
    GERARD RYLE: Well, the very secrecy of this world allows you to misuse it.
    I mean, this world is, for the most part, you imagine -- we can't prove it -- legitimate. And there's nothing illegal with using, buying an offshore company. There is nothing illegal with setting up a secret bank account. It's only if you don't report that to the authorities if you need to report it where it becomes illegal.
    But because it's so secret, I mean, rogue nations can use this. We came across a company that was the front for the Iranian shipping line, you know, which has since been outlawed by the European Union, by the U.S. authorities. You know, so, basically, the way that they use it is because they can get away with anything they want.
    HARI SREENIVASAN: And so included in this list of names that you have access to is 4,000 American names. Were there any surprises there? Or how are we going to find out about that reporting?
    GERARD RYLE: Well, again, it was very difficult for us to work out whether or not any of these people were breaking any laws.
    And our first duty as reporters was to, you know, look after the public interest. And where the -- a lot of these people are not public figures, so, therefore, it didn't jump that barrier for us, which was there has to be some there form of public interest. They have to be public figures in some way.
    HARI SREENIVASAN: And you also outline that the scope or scale of this, the $21 trillion to $30 trillion dollars that are floating around in this almost second banking network?
    GERARD RYLE: Well, the Tax Justice Network, which is an advocacy group, has got the best figures on what they think is the size of this offshore world. And they say that half of all world trade and a third of all world wealth now resides in the offshore world.
    And this is the first time that anyone has been able to really see into that world. And I'm not saying that we have got it all comprehensively covered here. We're only looking at a very small slice of a very large world. But it's a very deep slice of that world.
    HARI SREENIVASAN: So what are people using this for? Just to try to buy art without telling the IRS about it? Or how are they moving money around? What do they do with it?
    GERARD RYLE: Well, some people are using it to hide money from their spouses during divorce proceedings, for instance.
    You have got some super-wealthy people who like to own yachts, and they like to have companies that own those yachts for privacy reasons, in some cases. You have to assume that some of it isn't just for privacy reasons, that it's to try to hide it from authorities, not just the U.S. authorities, of course.
    I mean, we're talking about data from and names from 170 countries-plus.
    HARI SREENIVASAN: What do you think some of the consequences are going to be from the release of this information?
    When we saw WikiLeaks, initially, we didn't really know what to make sense of it, and then eventually it had huge political consequences around the world.
    GERARD RYLE: It's hard to know what is going to happen here. But the first, I guess, consequence is that a secret world is no longer secret. And it's going to send shivers through this world.
    We discovered that there is a whole service industry out there of providers who, you know, are used by big banks and other, you know, everyday institutions. And they provide, you know, the means to set up offshore accounts, the means to set up offshore companies, the means to -- you know, to basically conduct your business through secrecy.
    HARI SREENIVASAN: And I got to ask a question on the journalism side of it. How do you keep 80 different newspapers and everybody together and sort of keep a secret as they are developing this process? This idea of distributed reporting is pretty novel.
    GERARD RYLE: Yes, but we were able to convince everybody that if they shared information and if they shared resources, that we would all end up with a better product.
    And because this world has no borders, and it doesn't have any borders, the reporting took people through one country and into another. And they were able to able to share information that helped each other. And that became apparent very quickly.
    And, of course, we grew the number of reporters over time. So it was a -- by the time it got to 86 reporters, the reporters who started with us were able to tell the others that it was worth their while.
    HARI SREENIVASAN: So you would show them a name, a list of names and say, are these people significant or not?
    So how are we going to see these reports come out? Is it the next few weeks or the next few months?
    GERARD RYLE: Well, our plan is to do probably another two weeks of reporting on it and then to go back in.
    We think we have only skimmed about 20 percent of the data, even after 15 months of looking at it, because there is so much in there that it is kind of impenetrable. There are even files that we haven't yet to look at because we just can't read them. It took an awful lot of technical know-how to be able to reassemble it all, to use special software to read.
    And so we think there are a lot more stories in there. But this is our first attempt, basically, at breaking it open.
    HARI SREENIVASAN: All right, Gerard Ryle, thanks so much for joining us.
    GERARD RYLE: Thank you.
    JEFFREY BROWN: And you can find a link to the reporting by the group of journalists. That's on our home page. 





  • Super Rich Hide $21 Trillion Offshore, Study Says - Forbes

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    Jul 23, 2012 – Super Rich Hide $21 Trillion Offshore, Study Says ... A new report finds that around the world the extremely wealthy have accumulated at least $21 trillion in secretive offshore accounts. ..... Who Just Made a Billion Dollars?
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      2. Our investigation into the previously secret world of tax havens from the British Virgin Islands to Singapore continues throughout 2013.

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  • Journalists Expose Trove of Hidden Offshore Bank Accounts Around the World







    http://www.pbs.org/newshour/bb/business/jan-june13/accounts_04-05.html

    Journalists Expose Trove of Hidden Offshore Bank Accounts Around the World





    JEFFREY BROWN: Next: With Tax Day looming for millions of Americans, a new investigation exposes the global use of offshore bank accounts to hide trillions of dollars and evade laws.
    Again to Hari, who has the story.
    HARI SREENIVASAN: Uncovering the complex workings of offshore tax havens has led to one of the largest cross-border collaborations ever between journalists.
    The International Consortium of Investigative Journalists has been combing through more than two million files of financial transaction data for more than a year. It's taken this long because the digital file size is 160 times larger than the State Department cables published by WikiLeaks in 2010.
    A team of 86 investigative journalists from 46 countries has collectively examined more than 120,000 offshore accounts belonging to individuals and companies from more than 170 countries. The records show how government officials and individuals in a number of countries use covert accounts and companies to shield their wealth and how some of the top global banks work within these offshore tax havens as well.
    The investigation is already leading to a series of reports, including one spotlighting the transactions of a Canadian senator's husband, who has hidden money from their equivalent of the IRS, an Australian tied to arms dealing through shell companies, and a Mongolian lawmaker who may resign over the revelations of his finances overseas.
    Gerard Ryle directs the International Consortium of Investigative Journalists and joins us to discuss the findings.
    Thanks for being with us.
    GERARD RYLE, International Consortium of Investigative Journalists: It's good to be here.
    HARI SREENIVASAN: So, first of all, how did you get this trove of information? What is the data?
    GERARD RYLE: Well, the data is an enormous amount of sort of very unstructured data. It's got documents, spreadsheets, financial transactions, e-mails.
    And it came about because of a long investigation I did in Australia about a fraud that effectively led me to this world, this secret world that I knew nothing about, which was the world of offshore.
    HARI SREENIVASAN: So, in this report, you say that it's not just the super-rich and the super-powerful, but it's more pervasive. Explain that.
    GERARD RYLE: Well, it was probably the biggest surprise that I found.
    I initially thought that the people that you expect to use tax havens are the super-wealthy. But when you look at this world, you find that it's not just the super-wealthy that are using it. It is the sort of moderately wealthy. And it pervades right down through society to doctors, dentists, you know, small-time developers.
    They have all discovered this world. And they're all using it.
    HARI SREENIVASAN: And you said that it contributes to fraud, tax dodging and enables political corruption. Explain that.
    GERARD RYLE: Well, the very secrecy of this world allows you to misuse it.
    I mean, this world is, for the most part, you imagine -- we can't prove it -- legitimate. And there's nothing illegal with using, buying an offshore company. There is nothing illegal with setting up a secret bank account. It's only if you don't report that to the authorities if you need to report it where it becomes illegal.
    But because it's so secret, I mean, rogue nations can use this. We came across a company that was the front for the Iranian shipping line, you know, which has since been outlawed by the European Union, by the U.S. authorities. You know, so, basically, the way that they use it is because they can get away with anything they want.
    HARI SREENIVASAN: And so included in this list of names that you have access to is 4,000 American names. Were there any surprises there? Or how are we going to find out about that reporting?
    GERARD RYLE: Well, again, it was very difficult for us to work out whether or not any of these people were breaking any laws.
    And our first duty as reporters was to, you know, look after the public interest. And where the -- a lot of these people are not public figures, so, therefore, it didn't jump that barrier for us, which was there has to be some there form of public interest. They have to be public figures in some way.
    HARI SREENIVASAN: And you also outline that the scope or scale of this, the $21 trillion to $30 trillion dollars that are floating around in this almost second banking network?
    GERARD RYLE: Well, the Tax Justice Network, which is an advocacy group, has got the best figures on what they think is the size of this offshore world. And they say that half of all world trade and a third of all world wealth now resides in the offshore world.
    And this is the first time that anyone has been able to really see into that world. And I'm not saying that we have got it all comprehensively covered here. We're only looking at a very small slice of a very large world. But it's a very deep slice of that world.
    HARI SREENIVASAN: So what are people using this for? Just to try to buy art without telling the IRS about it? Or how are they moving money around? What do they do with it?
    GERARD RYLE: Well, some people are using it to hide money from their spouses during divorce proceedings, for instance.
    You have got some super-wealthy people who like to own yachts, and they like to have companies that own those yachts for privacy reasons, in some cases. You have to assume that some of it isn't just for privacy reasons, that it's to try to hide it from authorities, not just the U.S. authorities, of course.
    I mean, we're talking about data from and names from 170 countries-plus.
    HARI SREENIVASAN: What do you think some of the consequences are going to be from the release of this information?
    When we saw WikiLeaks, initially, we didn't really know what to make sense of it, and then eventually it had huge political consequences around the world.
    GERARD RYLE: It's hard to know what is going to happen here. But the first, I guess, consequence is that a secret world is no longer secret. And it's going to send shivers through this world.
    We discovered that there is a whole service industry out there of providers who, you know, are used by big banks and other, you know, everyday institutions. And they provide, you know, the means to set up offshore accounts, the means to set up offshore companies, the means to -- you know, to basically conduct your business through secrecy.
    HARI SREENIVASAN: And I got to ask a question on the journalism side of it. How do you keep 80 different newspapers and everybody together and sort of keep a secret as they are developing this process? This idea of distributed reporting is pretty novel.
    GERARD RYLE: Yes, but we were able to convince everybody that if they shared information and if they shared resources, that we would all end up with a better product.
    And because this world has no borders, and it doesn't have any borders, the reporting took people through one country and into another. And they were able to able to share information that helped each other. And that became apparent very quickly.
    And, of course, we grew the number of reporters over time. So it was a -- by the time it got to 86 reporters, the reporters who started with us were able to tell the others that it was worth their while.
    HARI SREENIVASAN: So you would show them a name, a list of names and say, are these people significant or not?
    So how are we going to see these reports come out? Is it the next few weeks or the next few months?
    GERARD RYLE: Well, our plan is to do probably another two weeks of reporting on it and then to go back in.
    We think we have only skimmed about 20 percent of the data, even after 15 months of looking at it, because there is so much in there that it is kind of impenetrable. There are even files that we haven't yet to look at because we just can't read them. It took an awful lot of technical know-how to be able to reassemble it all, to use special software to read.
    And so we think there are a lot more stories in there. But this is our first attempt, basically, at breaking it open.
    HARI SREENIVASAN: All right, Gerard Ryle, thanks so much for joining us.
    GERARD RYLE: Thank you.
    JEFFREY BROWN: And you can find a link to the reporting by the group of journalists. That's on our home page. 

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