“Even as governments worldwide responded to the Pandora Papers with major financial reforms, other governments and their supporters responded with legal and regulatory crackdowns, legal threats and verbal attacks against the journalists who produced the blockbuster exposé of the offshore financial system. ICIJ Pandora Papers Journalists Face Government Backlash for Investigating Financial Secrecy “Piñera is unlikely to be removed by the 43-member upper house, where the opposition has only 24 of the 29 votes needed to oust a president.” Sixty-seven legislators voted against impeachment, including several members of the opposition. “The vote to impeach passed with the bare minimum of 78 votes needed in the 155-member chamber of deputies, and followed a marathon 20-hour session. “Chile’s President Sebastián Piñera has been impeached by the lower house of congress, setting up a trial in the nation’s senate over allegations he favored the sale of a family property while in office. The Guardian Chilean President Piñera Impeached Over Pandora Papers Revelations “But some are already asking: ‘Is it enough?'” ‘The ENABLERS Act tries to close that loophole.’ Representative Tom Malinowski (D-N.J.), who co-sponsored the bill. “’There’s a whole … industry set up in the U.S., consisting of trusts, law firms, accounting firms, et cetera, that does not have to do any due diligence when someone shows up with a suitcase full of cash and asks for help in hiding it,’ said U.S. Treasury to expand due diligence rules for financial-services professionals. trusts are sheltering millions in controversial assets, a bipartisan group of House members responded with proposed legislation, requiring the U.S. “Just days after the Pandora Papers broke in early October, highlighting how U.S. The plan includes a call for greater diplomatic efforts to defend investigative journalists who expose corruption.”įRONTLINE Can Federal Legislation Rein in South Dakota Trusts? efforts to partner with anti-money laundering regimes in other countries. “The administration has also promised to ramp up anti-corruption investigations at the Treasury Department and other federal agencies and elevate U.S. “Calling the effort a core national security interest, the administration said it would work with Congress to bring more scrutiny to trust companies, lawyers and other financial gatekeepers, seek to identify owners ‘hiding behind opaque’ corporations and target those involved in real estate transactions used to hide or launder money. The Washington Post Biden Calls for Sweeping New Push to Expose and Punish Financial Corruption Read more from ICIJ and The Washington Post In recent years, families from India to Italy to Venezuela abandoned international financial centers for law firms in Wyoming’s ski resorts and mining towns, helping to turn the state into one of the world’s top tax havens.” “Millionaires and billionaires from around the world have taken note. “The cocktail and variations of it - consisting of a Wyoming trust and layers of private companies with concealed ownership - allow the world’s wealthy to move and spend money in extraordinary secrecy, protected by some of the strongest privacy laws in the country and, in some cases, without even the cursory oversight performed by regulators in other states. “It’s called the Cowboy Cocktail, and in recent years, the coveted financial arrangement has attracted a new set of outsiders to the least populated state in America. ICIJ & The Washington Post How Wyoming Became One of the World’s Top Tax Havens 14: Chilean Move to Impeach Biden & Kenyatta 22: Ecuador EU Parliamentarians Call Out U.S. 9: Chilean Lower House Impeaches President The full documentary is available to stream above below are major stories from our media partners, updated as news breaks. Our resulting documentary with ICIJ, Pandora Papers, premiered Nov. trusts are sheltering millions in controversial assets.įor close to two years, ICIJ has led an investigation into these documents with 150 media organizations, including FRONTLINE. The leaked files illustrate the global entanglement of political power and secretive offshore finance, and how U.S. The documents - shared with the International Consortium of Investigative Journalists by an anonymous source - include records from 14 financial service providers around the world. A trove of nearly 12 million confidential documents, collectively known as the Pandora Papers, reveals the hidden assets and secret deals of some of the world’s wealthiest and most powerful people, including 130 billionaires, 35 current and former world leaders and more than 330 politicians and public officials.
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