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After massive ‘Panama Papers’ document leak, rich and powerful around the world deny wrongdoing (Los Angeles Times)

Documents from a Panamanian law firm obtained by several international news outlets  appear to show how the global political and business elite — and maybe drug traffickers — have mounted complex systems to hide money in offshore accounts. Companies can incorporate in the U.S. without revealing sources of money.”It’s not just the Virgin Islands and Panama where kleptocrats and criminals go to launder their illicit wealth,” said Shruti Shah, vice president of Transparency’s U.S. chapter. Read more

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