The Memo You’re Not Supposed to See: 11 Ways to Hide Money Offshore
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In the fall of 2020, reporters on three continents coordinated the release of an investigation they named Jersey Offshore. Their stories peeled back veils from the private world of offshore banking. Based on more than 350,000 documents leaked from inside a trust company called La Hougue on the Isle of Jersey, a British Crown possession in the English Channel, the coverage contains information rarely glimpsed by the public.
Amid the data, one document stood out for its candor. That was a memo dated July 6, 2000, from a La Hougue managing director offering a series of options by which the trust company might help a client move money offshore. In the eyes of experts who reviewed the memo, these options could confer significant tax write-offs, potentially pushing the boundaries of legality, and even flout the line between allowable tax avoidance and criminal tax evasion. The reporters who covered the leak came to refer to the document simply as “the 11 ways”—a memo that tantalizingly includes, on its opening page, a line warning the reader not to let it “fall into the wrong hands.”
Well, it did.
“Never argue with a fool, onlookers may not be able to tell the difference.”
January 31, 2021 at 4:53 PM #399749ThouArtThatParticipant
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Thank you for sharing. The reality is always worse than one can imagine. And such reality is the reason this citizen and voter oft opines about the country formerly known as America. And that simply because, when corruption becomes the norm, any notion of patriotism or nationalism or allegiance is simply pablum for manipulating the masses. When asked why I no longer believe in America, the reply is swift – what is left to believe in? The empire is crumbling and it is every man, woman and child for themselves. Best not to sugarcoat these matters and get on with the grisly business of survival.
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