By investigating "Panama document", the method of how wealth hidden assets and hiding the identity was discovered

ByJason Lawrence

It is the leak information of the largest offshore transactions (cross-border financial transactions) in April 2016"Panama document" announcedIt is,People such as politicians and athletes and names of celebrities and gigantic enterprises were foundI called a topic.

In MayDatabase publishedIt is now possible for anyone to touch its contents, but as the investigation progressed, it became clear what kind of method was used to hide assets.

How Mossack Fonseca Helped Clients Skirt Or Break U.S. Tax Laws With Offshore Accounts - The New York Times
http://www.nytimes.com/interactive/2016/06/05/world/americas/panama-papers-us-taxes.html


Panama Papers Reveal How Wealthy Americans Hid Millions Overseas - The New York Times
http://www.nytimes.com/2016/06/06/us/panama-papers.html

Mr. William R. Ponsolt, a manager of the hedge fund, was one of the clients of the law firm "Mosac Fonseca" and from about 2004 he consulted "How to leave assets to children" It was. Therefore, Mosac Fonseca implements the "asset protection plan" with the aim of achieving the goal of "opening an ideal account with the highest confidentiality without leaving the name of Mr. Ponsolt as an individual". This content is considered as one form of "asset hiding" that Mosac Fonseca did for the client.

ByButz.2013

First, Mosac Fonseca will establish a private foundation in Panama. In Panama, donation to the Foundation of this kind does not cost tax, so clients can donate to the Foundation, transfer assets and keep it safe. In addition, several imaginary companies (paper company) related to the foundation are also established at the same time.

Naturally, it is meaningless to understand that this foundation is directly connected with clients, so owner and officers will be employees of Mosac Fonseca and their families. Only those clients are designated as beneficiaries of these foundations and paper companies, and we know that they were hidden in official documents.

As for the withdrawal of money, the employee of Mosac Fonseca was taking over on behalf of the client. The location of the bank is also selected in tax havens (tax avoidance areas) such as Andorra, Switzerland, British Virgin Islands, etc. and we know that we do not traditionally tell the name of customers to the government.

By401 (K) 2012

Furthermore, if the client is living in the US, he / she used the system of "not taxing gifts for children" by way of personal accounts such as children's children of the client.

In the case of Mr. Ponsolt, the relationship with Mosac Fonseca continued until 2015, during which Mosac Fonseca established one foundation and eight paper companies. At least we know that we moved 134 million dollars through six banks and seven banks. However, it was almost impossible to trace this movement directly from Mr. Ponsolt to that child.

In addition, Mosac Fonseca's number of clients in the US has reached 2,400 in the past 10 years. A detailed investigation of the Panama document has revealed that the number of paper companies founded is at least 2,800 in the British Virgin Islands, Panama, Seychelles and others.