Posted on April 9, 2013 1:45 pm

Massive Data Leak Reveals How the Ultra Rich Hide Their Wealth

from the hidden-in-congressional-offices dept.

According to the CBC, there was a massive leak of “files containing information on over 120,000 offshore entities — including shell corporations and legal structures known as trusts — involving people in over 170 countries. The leak amounts to 260 gigabytes of data, or 162 times larger than the U.S. State Department cables published by WikiLeaks in 2010…In many cases, the leaked documents expose insider details of how agents would incorporate companies in Caribbean and South Pacific micro-states on behalf of wealthy clients, then assign front people called “nominees” to serve, on paper, as directors and shareholders for the corporations — disguising the companies’ true owners.” Makes a good read and there are some good interactive components. Perhaps Slashdot readers can figure out how the source of the leak, the D.C.-based International Consortium of Investigative Journalists got their hands on this data.