Showing posts with label tax havens. Show all posts
Showing posts with label tax havens. Show all posts

Friday, April 19, 2013

'Secrecy for sale' offshore bank leaks draw global responses



By Emily Menkes, Michael Hudson and Kimberley Porteous of the ICIJ


The International Consortium of Investigative Journalism (ICIJ) investigative series on offshore secrecy – which draws from a cache of 2.5 million leaked secret records – has ignited reactions around the globe, including the Pacific.

Since the initial release of stories by the ICIJ and its media partners across the world, public officials have issued statements, governments have launched investigations, and politicians and journalists have been debating the implications of the records and the reporting.

Among reactions and responses:
  • Bayartsogt Sangajav: resigned his post after offshore account revelation: Bayartsogt Sangajav, deputy speaker of the Mongolian Parliament, has reportedly resigned from his post following ICIJ's revelations about his undeclared offshore company and bank account. In a parliamentary session he was asked to explain his actions. Several MPs called for further disciplinary action, including expelling him from Parliament entirely.
  • Santosh Kumar Agarwal (Kedia), a member of the board of directors for the Antwerp World Diamond Centre, has resigned from the organisation after his offshore dealings were revealed: “In the interest of the integrity of the Antwerp World Diamond Centre as [an] organisation and the industry as a whole, Kedia has taken the initiative to withdraw from the AWDC's board of directors, awaiting the outcome of a potential investigation,” said a statement released by the company.

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