Paradise Papers is a new scandal that shakes companies, politicians and public figures that protect their wealth in tax havens. Documents refer, among others, to Apple, Nike, Facebook, Uber, Twitter, Whirlpool, Allianz, Deutsche Bank, Deutsche Post, etc. Some estimates show that 80% of offshore assets belong to 0.1% of the richest families in the world.
A new massive journalistic investigation, Paradise Papers, shows how Glencore, the world’s largest commodity trader, has paid an influential businessman with the dubious past in order to get government approvals.
In Paradise Papers, which unleashed scandals in the UK and other parts of the world, exposing more than 120 politicians in 47 states and public figures using tax havens to avoid paying taxes, there are other big names .
The documents refer, among other things, to Apple, Nike, Facebook, Uber, Twitter, Whirlpool, Allianz, Deutsche Bank, Deutsche Post, Bayer, Meininger hotel chain, Standard Bank, the largest bank in Africa, and Siemens.
Another top German publication, Handelsblatt, published an own investigation into how electric vehicle manufacturers encourage companies and governments that tolerate working conditions at the limit of slavery, child exploitation, corruption and violence of the police forces. Handelsblatt focuses on German car manufacturers on “The darkest secrets of the German automotive industry”, as the title of the survey reads.
The papers also mention investments from Queen Elisabeth II, Bono, US Secretary for Commerce Wilbur Ross, officials close to Russian President Vladimir Putin and to Canadian PM Justin Trudeau.
Reportedly several Romanians’ names are also revealed.