From Panama To Pandora: How The Ultra-Rich Hide Their Wealth

WAMU 88.5 | By Arfie Ghedi

Published October 4, 2021 at 2:52 PM EDT

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The "Pandora Papers" investigation involving some 600 journalists from media including The Washington Post, the BBC and The Guardian is based on a leak of millions of documents from 14 financial services companies around the world.

Once again, a treasure trove of documents analyzed by reporters and experts has revealed how the world’s rich and powerful hide their wealth.

The “Pandora Papers” investigationinvolves a massive leak of 12 million documents obtained by the International Consortium of Investigative Journalists and examined by news organizations worldwide. These documents include private emails, spreadsheets, and other financial records.

An analysis of the papers shows evidence of tax evasion and money laundering — as well as proof that millions of dollars from outside of the U.S. is being sheltered in South Dakota.

So how do the world’s rich get away with it? And what implications could the Pandora Papers have for the U.S. tax code?