Or maybe there are just no bad Americans in positions of power. From Kit Klarenberg at rt.com:
On October 3, the Washington, DC-based International Consortium of Investigative Journalists (ICIJ) announced the leak of almost three terabytes of incriminating data on the use of offshore financial arrangements by celebrities, fraudsters, drug dealers, royal family members, and religious leaders the world over.
The ICIJ led what it called “the world’s largest-ever journalistic collaboration,” involving over 600 journalists from 150 media outlets in 117 countries, to comb through the trove of 12 million documents, dubbed the ‘Pandora Papers’.
Among other things, the data reveals the use of tax and financial secrecy havens “to purchase real estate, yachts, jets and life insurance; their use to make investments and to move money between bank accounts; estate planning and other inheritance issues; and the avoidance of taxes through complex financial schemes.” Some documents are also said to be tied to “financial crimes, including money laundering.”
While the publication of articles related to the documents’ bombshell contents is only in its early stages, the Consortium promises that the records contain “an unprecedented amount of information on so-called beneficial owners of entities registered in the British Virgin Islands, Seychelles, Hong Kong, Belize, Panama, South Dakota and other secrecy jurisdictions,” with over 330 politicians and 130 Forbes billionaires named.