Panama Papers: biggest leak in history published by German newspaper

[manarak]

for the record: offshore corporations and offshore accounts are not necessarily used to evade taxes, launder money or covering up illegal activities. in many cases they are a simple and inexpensive substitute for a will / estate planning to avoid a lengthy and costly court probate.

That's a bit like saying that a gun is useful in controlling vermin (4-legged) and for sport

One wonders just what proportion of the total number of offshore accounts are operating for these "well-intentioned" reasons.

There are many uses for offshore corporations.

yes, money laundering and evading taxes is one possible use, and I would say a large chunk of offshore corporations are used for that.

the use mentioned by Naam is another, widespread, legitimate use.

I use an offshore corporation to make international business in conjunction with tax residence in a country that doesn't tax income realized abroad.

another possible use of an offshore corporation is to conduct 100% legal business that for some reason you wouldn't want people to know about, such as running a special interest site, but you don't want your workmates to know about it (for example a support group for closet homosexuals).

Could also be a political blog or a civil rights movement.

there are many legitimate uses for offshore corporations.

[watcharacters]

Now THIS is going to be interesting.

I think not likely,

By the time it's all digested, the IMPORTANT people will have made sure all links are dead along with the who were involved with posting them.

There is at least some measure of confirmation. I posted many months ago about Arron Swartz and his personal goal as a major force in the evolution of the internet for transparency but naturally it fell on deaf ears on TV. The post dropped as dead as he did along with a meaningful link to what he tried to accomplish

Keep posting on Facebook..

[simple1]

Interesting stats on off shore banking. Pretty amazing. Maybe we need simplified tax laws? LOL

https://en.wikipedia.org/wiki/Offshore_bank

Offshore banking constitutes a sizable portion of the international financial system. Experts believe that as much as half the world's capital flows through offshore centers. Tax havens have 1.2% of the world's population and hold 26% of the world's wealth, including 31% of the net profits of United States multinationals. An estimated £13-20 trillion is hoarded away in offshore accounts.^[11]

Some $3 trillion is in deposits in tax haven banks and the rest is in securities held by international business companies (IBCs) and trusts. Among offshore banks, Swiss banks hold an estimated 35% of the world's private and institutional funds (or 3 trillion Swiss francs), and the Cayman Islands (1.9 trillion US dollars in deposits) are the fifth largest banking centre globally in terms of deposits.^[12] However, recent data by the Swiss National Bank show that the assets held by foreign persons in Swiss bank accounts declined by 28.1% between January 2008 and November 2009.^[13]

http://www.forbes.com/sites/frederickallen/2012/07/23/super-rich-hide-21-trillion-offshore-study-says/#fa5cc3b73d32

A new report finds that around the world the extremely wealthy have accumulated at least $21 trillion in secretive offshore accounts. That’s a sum equal to the gross domestic products of the United States and Japan added together. The number may sound unbelievable, but the study was conducted by James Henry, former chief economist at the consultancy McKinsey, an expert on tax havens and offshoring. It was commissioned by Tax Justice Network, a British activist group.

Crazy, eh?

The report’s analysis, based on data from many sources including the Bank of International Settlements and the International Monetary Fund, indicates that enough money has left some developing countries since the 1970s to pay off all their debts to the rest of the world. “The problem here is that the assets of these countries are held by a small number of wealthy individuals while the debts are shouldered by the ordinary people of these countries through their governments,” the report says.Money has especially flowed out of oil producing states. Some $700 billion has left Russia since the 1990s: $305 billion has flowed out of Saudi Arabia since the 1970s, and about the same amount from Nigeria.

I recall a few years back there was a report, can't remember the name of the organisation, that PRC nationals had moved around 2 trillion dollars to offshore havens in a relatively short period of time.

A highly respected Australian TV investigative media outlet, ABC Four Corners, has just broadcast a report on the topic in relation to some of Australia's largest companies. They have been using the company in the OP for tax avoidance by the well worn path of moving inter company loans to leverage tax write offs and other activities. An Australian parliamentary report is to be released to address the loopholes. Another example, one of Australia's largest security companies holding contracts worth million of dollars from Oz government had 'hidden' H.K. Chinese directors. Yet another Australian company was detected using tax avoidance methods to the value of $800m. Don't know if you can access from overseas, try looking up via http://iview.abc.net.au/.

So far 46 Australians have been jailed due to the leads from Luxembourg and other prior exposure of 'secret' accounts. IMO the release of the OP data will generate a shit storm of grief for politicians, individuals and corporations across the Western world.

Edited April 4, 2016 by simple1

[Naam]

for the record: offshore corporations and offshore accounts are not necessarily used to evade taxes, launder money or covering up illegal activities. in many cases they are a simple and inexpensive substitute for a will / estate planning to avoid a lengthy and costly court probate.

That's a bit like saying that a gun is useful in controlling vermin (4-legged) and for sport

One wonders just what proportion of the total number of offshore accounts are operating for these "well-intentioned" reasons.

There are many uses for offshore corporations.

yes, money laundering and evading taxes is one possible use, and I would say a large chunk of offshore corporations are used for that.

the use mentioned by Naam is another, widespread, legitimate use.

I use an offshore corporation to make international business in conjunction with tax residence in a country that doesn't tax income realized abroad.

another possible use of an offshore corporation is to conduct 100% legal business that for some reason you wouldn't want people to know about, such as running a special interest site, but you don't want your workmates to know about it (for example a support group for closet homosexuals).

Could also be a political blog or a civil rights movement.

there are many legitimate uses for offshore corporations.

any attempt to educate people who (as this thread demonstrates) don't know the difference between an offshore corporation and an offshore account as well as their multiple purposes is futile.

[Wilsonandson]

Kofi's son has been a naughty boy too!

In the case of Kojo Annan who is the only son of former United Nations secretary general, Kofi Annan, who served from 1997 to 2006, he used an offshore company to buy a $500,000 London apartment, according to Mossack Fonseca data.

Edited April 4, 2016 by Wilsonandson

[simple1]

For anyone interested an Australian related report on the topic.

http://www.abc.net.au/4corners/stories/2016/04/04/4434529.htm

[Berkshire]

for the record: offshore corporations and offshore accounts are not necessarily used to evade taxes, launder money or covering up illegal activities. in many cases they are a simple and inexpensive substitute for a will / estate planning to avoid a lengthy and costly court probate.

That's a bit like saying that a gun is useful in controlling vermin (4-legged) and for sport

One wonders just what proportion of the total number of offshore accounts are operating for these "well-intentioned" reasons.

There are many uses for offshore corporations.

yes, money laundering and evading taxes is one possible use, and I would say a large chunk of offshore corporations are used for that.

the use mentioned by Naam is another, widespread, legitimate use.

I use an offshore corporation to make international business in conjunction with tax residence in a country that doesn't tax income realized abroad.

another possible use of an offshore corporation is to conduct 100% legal business that for some reason you wouldn't want people to know about, such as running a special interest site, but you don't want your workmates to know about it (for example a support group for closet homosexuals).

Could also be a political blog or a civil rights movement.

there are many legitimate uses for offshore corporations.

But we're not talking about those, are we?

[Berkshire]

please define "fair contribution" and state a reason why you think that "these individuals" did not contribute to their relevant societies.

Mr. Naam, you're clearly a knowledgeable financial guy, well respected on this forum. Which is why I'm at a loss to understand why you're defending these crooks. Obviously, the authorities are not going to go after everyone who has an off-shore account. But there are quite a few folks who have off-shore accounts for nefarious reasons. If it was legit, there wouldn't be a need to "conceal" it. That's pretty much the thrust of the OP. It's not only taxes that they're avoiding, but it would seem that a good number are politicians who have siphoned large amounts of money from their nations' coffers. Trillions. I hope they nail these crooks, but I doubt many of these countries have the stomach to do it. Putin will just deny it all. Ditto Saudi Arabia and Nigeria. But maybe the Chinese will make a go of it. Anyways, I look forward to seeing all the names that are revealed. It will be long and distinguished.

please quote a single remark of mine which "defends the crooks"

You just seem rather defensive. But have it your way. Let's see what comes out of these leaks.

[gerry1011]

please define "fair contribution" and state a reason why you think that "these individuals" did not contribute to their relevant societies.

Mr. Naam, you're clearly a knowledgeable financial guy, well respected on this forum. Which is why I'm at a loss to understand why you're defending these crooks. Obviously, the authorities are not going to go after everyone who has an off-shore account. But there are quite a few folks who have off-shore accounts for nefarious reasons. If it was legit, there wouldn't be a need to "conceal" it. That's pretty much the thrust of the OP. It's not only taxes that they're avoiding, but it would seem that a good number are politicians who have siphoned large amounts of money from their nations' coffers. Trillions. I hope they nail these crooks, but I doubt many of these countries have the stomach to do it. Putin will just deny it all. Ditto Saudi Arabia and Nigeria. But maybe the Chinese will make a go of it. Anyways, I look forward to seeing all the names that are revealed. It will be long and distinguished.

please quote a single remark of mine which "defends the crooks"

You just seem rather defensive. But have it your way. Let's see what comes out of these leaks.

Nothing much will come out.

Except lots of noise from the leftists.

[Scotwight]

One thing you won't see is anyone from Thailand on that list!

Would you care to wager on that?

Leaked emails reveal how Mossack Fonseca staff joked about helping a Dutch man hide cash from his wife before he started divorce proceedings.

The note, which contains a smiley emoji, says the client needed to 'protect' his assets 'against the unpleasant results of a divorce (on the horizon!)'

One husband in Thailand needed a 'silver bullet' to stop his wife getting to his money, another email reveals.

http://www.dailymail.co.uk/news/article-3522428/How-billionaire-husbands-including-Scot-Young-use-mysterious-Panama-law-firm-hide-fortunes-wives-divorce.html

[rijit]

More interesting info here.

http://www.bbc.com/news/world-35918844

It also reveals a suspected billion-dollar money laundering ring that was run by a Russian bank and involved close associates of President Putin.

........

Money has been channelled through offshore companies, two of which were officially owned by one of the Russian president's closest friends.

Here we go, 25 pages of denials by the Kremlin puppets spouting "not us sirs it's all a western anti putin conspiracy.

Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app

[Naam]

please define "fair contribution" and state a reason why you think that "these individuals" did not contribute to their relevant societies.

Mr. Naam, you're clearly a knowledgeable financial guy, well respected on this forum. Which is why I'm at a loss to understand why you're defending these crooks. Obviously, the authorities are not going to go after everyone who has an off-shore account. But there are quite a few folks who have off-shore accounts for nefarious reasons. If it was legit, there wouldn't be a need to "conceal" it. That's pretty much the thrust of the OP. It's not only taxes that they're avoiding, but it would seem that a good number are politicians who have siphoned large amounts of money from their nations' coffers. Trillions. I hope they nail these crooks, but I doubt many of these countries have the stomach to do it. Putin will just deny it all. Ditto Saudi Arabia and Nigeria. But maybe the Chinese will make a go of it. Anyways, I look forward to seeing all the names that are revealed. It will be long and distinguished.

please quote a single remark of mine which "defends the crooks"

You just seem rather defensive. But have it your way. Let's see what comes out of these leaks.

and you Sir are tucking in your tail. first accusations and then a rather lame try to divert. personally i give a rat's àrse what "comes out".

[Basil B]

Now THIS is going to be interesting.

Yes...

The documents show 12 current or former heads of state, and at least 60 people linked to current or former world leaders, in the data. The files reveal a suspected billion-dollar money laundering ring involving close associates of Russia's President Vladimir Putin.

Also mentioned are the brother-in-law of China's President Xi Jinping; Ukraine's President Petro Poroshenko; Argentina's President Mauricio Macri; and the late father of UK Prime Minister David Cameron.

-- BBC http://www.bbc.co.uk/news/world-35960329

This is going to give a lot of people many sleepless nights, may even topple a few governments...

What I am sure of is this is only the tip of a iceberg and when they finish reading 11.5 million documents I am sure there are many other law and investment firms doing the same thing...

P.S.

My investment tip of the day "Industrial Shredders Inc"

[jpinx]

for the record: offshore corporations and offshore accounts are not necessarily used to evade taxes, launder money or covering up illegal activities. in many cases they are a simple and inexpensive substitute for a will / estate planning to avoid a lengthy and costly court probate.

That's a bit like saying that a gun is useful in controlling vermin (4-legged) and for sport

One wonders just what proportion of the total number of offshore accounts are operating for these "well-intentioned" reasons.

There are many uses for offshore corporations.

yes, money laundering and evading taxes is one possible use, and I would say a large chunk of offshore corporations are used for that.

the use mentioned by Naam is another, widespread, legitimate use.

I use an offshore corporation to make international business in conjunction with tax residence in a country that doesn't tax income realized abroad.

another possible use of an offshore corporation is to conduct 100% legal business that for some reason you wouldn't want people to know about, such as running a special interest site, but you don't want your workmates to know about it (for example a support group for closet homosexuals).

Could also be a political blog or a civil rights movement.

there are many legitimate uses for offshore corporations.

any attempt to educate people who (as this thread demonstrates) don't know the difference between an offshore corporation and an offshore account as well as their multiple purposes is futile.

The use of offshore accounts is *always* to escape paying what is due to the users "home-country" tax system. Offshore corporations are just a bigger and more complicated way of doing the same thing. "Professionals" in the finance world resent the simplification of their world, but you really can not avoid the simple fact that the offshore facility is for the purpose of "saving" the client money which would otherwise be paid to their home country. The legitimacy of the process is not presented by any "legal" argument, but rather by a moral one.

.

Edited April 4, 2016 by jpinx

[chefseph]

These types of stories are a gift of God for the press to sell their papers to a populace eager to spit their venom at the rich.

It will end up in a flop.

Most of the offshore accounts and financial services are totally legal.

Remember Luxleaks... Nobody speaks about it anymore.

If belonging to joe public all well and good, but what reason is there for a energy minister and the pm's chief of staff (speaking about my home country Malta) buying such companies in Panama??

[Berkshire]

please quote a single remark of mine which "defends the crooks"

You just seem rather defensive. But have it your way. Let's see what comes out of these leaks.

Nothing much will come out.

Except lots of noise from the leftists.

"Noise from the leftists"...??? What is wrong with you guys? Catching insanely rich people hiding money for nefarious reasons doesn't bother you even a little bit? I guess there are many who've drank the kool-aid and still believe that it's a fair system....

[Naam]

The use of offshore accounts is *always* to escape paying what is due to the users "home-country" tax system. Offshore corporations are just a bigger and more complicated way of doing the same thing. "Professionals" in the finance world resent the simplification of their world, but you really can not avoid the simple fact that the offshore facility is for the purpose of "saving" the client money which would otherwise be paid to their home country. The legitimacy of the process is not presented by any "legal" argument, but rather by a moral one.

.

quite obviously you possess a wealth of "no idea" concerning the definition of "offshore" that's why i take the liberty to enlighten you

my accounts with German banks located in Germany where i hold some assets who's yield is tax free because i reside in Thailand are de jure and de facto offshore accounts irrespective of the fact that i am a German citizen. the same applies to my account in the United States and accounts with banks in the "tax haven" Singapore.

the only difference is that the U.S. and German tax authorities require once in a while to certify that i meet the relevant criteria to obtain, respectively to keep that tax free status.

[Naam]

These types of stories are a gift of God for the press to sell their papers to a populace eager to spit their venom at the rich.

It will end up in a flop.

Most of the offshore accounts and financial services are totally legal.

Remember Luxleaks... Nobody speaks about it anymore.

If belonging to joe public all well and good, but what reason is there for a energy minister and the pm's chief of staff (speaking about my home country Malta) buying such companies in Panama??

a valid point!

[rgs2001uk]

The use of offshore accounts is *always* to escape paying what is due to the users "home-country" tax system. Offshore corporations are just a bigger and more complicated way of doing the same thing. "Professionals" in the finance world resent the simplification of their world, but you really can not avoid the simple fact that the offshore facility is for the purpose of "saving" the client money which would otherwise be paid to their home country. The legitimacy of the process is not presented by any "legal" argument, but rather by a moral one.

.

quite obviously you possess a wealth of "no idea" concerning the definition of "offshore" that's why i take the liberty to enlighten you

my accounts with German banks located in Germany where i hold some assets who's yield is tax free because i reside in Thailand are de jure and de facto offshore accounts irrespective of the fact that i am a German citizen. the same applies to my account in the United States and accounts with banks in the "tax haven" Singapore.

the only difference is that the U.S. and German tax authorities require once in a while to certify that i meet the relevant criteria to obtain, respectively to keep that tax free status.

Uncle Sam doesnt scratch my back, I dont scratch his.

All I was required to do was fill out a simple form that stated I live overseas, simple.

The Thai tax man leaves me alone, I leave him alone.

[EyesWideOpen]

It has been rumored for years that Putin has in

essence stolen billions of dollars from Russia,

and is in fact the world's wealthiest man. So

hopefully these documents will show that.......

[jpinx]

The use of offshore accounts is *always* to escape paying what is due to the users "home-country" tax system. Offshore corporations are just a bigger and more complicated way of doing the same thing. "Professionals" in the finance world resent the simplification of their world, but you really can not avoid the simple fact that the offshore facility is for the purpose of "saving" the client money which would otherwise be paid to their home country. The legitimacy of the process is not presented by any "legal" argument, but rather by a moral one.

.

quite obviously you possess a wealth of "no idea" concerning the definition of "offshore" that's why i take the liberty to enlighten you

my accounts with German banks located in Germany where i hold some assets who's yield is tax free because i reside in Thailand are de jure and de facto offshore accounts irrespective of the fact that i am a German citizen. the same applies to my account in the United States and accounts with banks in the "tax haven" Singapore.

the only difference is that the U.S. and German tax authorities require once in a while to certify that i meet the relevant criteria to obtain, respectively to keep that tax free status.

There is a tendency to personalise the commentary, but there was no implication that anyone posting here was using offshore facilities for nefarious reasons, and no invitation to educate anyone regarding what an offshore facility actually is. The point being made is that *many* of the people who use offshore facilities do so for questionable reasons, descending to downright criminal in some cases. If this was not the case there would be no business for such facilitators as the panama office whose files have hit the headlines now. Many people who have reached the lofty heights of having anything more than a savings account and a visa card consider themselves to be more educated, wealthy and intelligent, but arrogance does nothing to endear that teacher to his captive class.

Edited April 4, 2016 by jpinx

[craigt3365]

One thing you won't see is anyone from Thailand on that list!

There's a bunch. Due to laws here, names won't be released immediately.

[Naam]

The use of offshore accounts is *always* to escape paying what is due to the users "home-country" tax system. Offshore corporations are just a bigger and more complicated way of doing the same thing. "Professionals" in the finance world resent the simplification of their world, but you really can not avoid the simple fact that the offshore facility is for the purpose of "saving" the client money which would otherwise be paid to their home country. The legitimacy of the process is not presented by any "legal" argument, but rather by a moral one.

.

quite obviously you possess a wealth of "no idea" concerning the definition of "offshore" that's why i take the liberty to enlighten you

my accounts with German banks located in Germany where i hold some assets who's yield is tax free because i reside in Thailand are de jure and de facto offshore accounts irrespective of the fact that i am a German citizen. the same applies to my account in the United States and accounts with banks in the "tax haven" Singapore.

the only difference is that the U.S. and German tax authorities require once in a while to certify that i meet the relevant criteria to obtain, respectively to keep that tax free status.

There seems to be a recurring theme here 'tax free'. You have intentionally structured your international accounts so that you incur no taxable income. Happy to generate profit on your assets but loath to part with one Euro in Tax to countries that generate your income. Rather than 'enlighten' anyone you demonstrate jpinx points perfectly.

you also need some enlightenment none of my accounts are "structured" because there is no way to structure accounts or portfolios in order to achieve tax free income except in cheap Hollywood movies and/or your wrong assumptions.

i wish that kind of structuring was possible because then i'd live in another country.

the reasons for my tax free status are:

-no tax liability in Germany because i am not a resident,

-no tax liability in Singapore because income and capital gains from investments are not taxed,

-no tax liability in Thailand because offshore income is not taxed,

-no tax liability in any of the countries i invest because non-resident foreign investors are not taxed.

note: even in the unlikely case of catching mad cow disease which destroys the brain cells sending money to any tax authorities no taxman would accept it under prevailing circumstances.

this enlightenment is free of charge!

[jayboy]

One thing you won't see is anyone from Thailand on that list!

There are reportedly many Thais on the list.What we haven't seen to date are names.

[craigt3365]

More interesting info here.

http://www.bbc.com/news/world-35918844

It also reveals a suspected billion-dollar money laundering ring that was run by a Russian bank and involved close associates of President Putin.

........

Money has been channelled through offshore companies, two of which were officially owned by one of the Russian president's closest friends.

Here we go, 25 pages of denials by the Kremlin puppets spouting "not us sirs it's all a western anti putin conspiracy.

Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app

That started last week. Putinphobia it's being called. Even before this went public. Somehow, they were made aware of what was going to be released:

http://www.thestar.com/news/world/2016/04/04/world-reacts-to-the-panama-papers-data-leak.html

Peskov, who had last week foreshadowed the disclosure of the documents by warning of an upcoming “information attack” on Putin, said Monday he expected more reports to follow.

[Naam]

There is a tendency to personalise the commentary, but there was no implication that anyone posting here was using offshore facilities for nefarious reasons, and no invitation to educate anyone regarding what an offshore facility actually is. The point being made is that *many* of the people who use offshore facilities do so for questionable reasons, descending to downright criminal in some cases. If this was not the case there would be no business for such facilitators as the panama office whose files have hit the headlines now. Many people who have reached the lofty heights of having anything more than a savings account and a visa card consider themselves to be more educated, wealthy and intelligent, but arrogance does nothing to endear that teacher to his captive class.

calling a person, who lists explanatory and informative facts using real life examples, arrogant is a lame attempt to divert from own ignorance. the point here is that keyboard warriors do not have right to summarily condemn a group of people based on their wrong assumptions.

[derator01]

There is a tendency to personalise the commentary, but there was no implication that anyone posting here was using offshore facilities for nefarious reasons, and no invitation to educate anyone regarding what an offshore facility actually is. The point being made is that *many* of the people who use offshore facilities do so for questionable reasons, descending to downright criminal in some cases. If this was not the case there would be no business for such facilitators as the panama office whose files have hit the headlines now. Many people who have reached the lofty heights of having anything more than a savings account and a visa card consider themselves to be more educated, wealthy and intelligent, but arrogance does nothing to endear that teacher to his captive class.

calling a person, who lists explanatory and informative facts using real life examples, arrogant is a lame attempt to divert from own ignorance. the point here is that keyboard warriors do not have right to summarily condemn a group of people based on their wrong assumptions.

There are many valid reasons for creating an off shore company and having an off shore account. All perfectly legal in every country in the world, as long as you abide by that country's laws.

Some were created for criminal reasons. But not all.

Enough with the personal attacks and back to the topic, please.

[manarak]

There are many uses for offshore corporations.

yes, money laundering and evading taxes is one possible use, and I would say a large chunk of offshore corporations are used for that.

the use mentioned by Naam is another, widespread, legitimate use.

I use an offshore corporation to make international business in conjunction with tax residence in a country that doesn't tax income realized abroad.

another possible use of an offshore corporation is to conduct 100% legal business that for some reason you wouldn't want people to know about, such as running a special interest site, but you don't want your workmates to know about it (for example a support group for closet homosexuals).

Could also be a political blog or a civil rights movement.

there are many legitimate uses for offshore corporations.

any attempt to educate people who (as this thread demonstrates) don't know the difference between an offshore corporation and an offshore account as well as their multiple purposes is futile.

The use of offshore accounts is *always* to escape paying what is due to the users "home-country" tax system. Offshore corporations are just a bigger and more complicated way of doing the same thing. "Professionals" in the finance world resent the simplification of their world, but you really can not avoid the simple fact that the offshore facility is for the purpose of "saving" the client money which would otherwise be paid to their home country. The legitimacy of the process is not presented by any "legal" argument, but rather by a moral one.

.

no, the use of offshore accounts is not *always* to escape paying tax.

I have one business (100% legal and 100% tax compliant) where my clients don't want any explicit statement on their bank accounts. So I use my offshore acount for these transactions.

My clients aren't doing anything illegal either, it's just confidentiality we are worried about.

If you are making it a moral case, then we have to consider that many restrictions placed by foreign governments on offshore accounts, foreign currencies and asset transfers are immoral too.

Offshore accounts then become an instument of excising one's fundamental rights.

[Naam]

It has been rumored for years that Putin has in

essence stolen billions of dollars from Russia,

and is in fact the world's wealthiest man. So

hopefully these documents will show that.......

[manarak]

It has been rumored for years that Putin has in

essence stolen billions of dollars from Russia,

and is in fact the world's wealthiest man. So

hopefully these documents will show that.......

for the moment, they found 30 million belonging to one of Putin's friends... and they hope to make a big story out of that. Alone the amount is already laughable for someone like Putin.