How do tax havens work, and is there a way of finally closing the loopholes in the international financial system? We discuss the issue with Markus Meinzer from the international Tax Justice Network.
Germany's federal investigators have paid up to 5 million euros for the trove of documents at the center of the so-called Panama Papers leak. While controversial, the purchase of stolen bank data is legal.
The Panama Papers have revealed a vast network of dubious offshore companies, ostensibly used to hide depositors' money from tax authorities. Politicians have been trying for years to shut down such oases.
Jerome Cahuzac, who once led a French government crackdown on tax evasion, has been found guilty of that same crime. According to a Paris court, his method of evasion surpassed other cases.
Dubbed the 'Dallas on the Seine' affair, the tax-fraud trial of New York art dealer Guy Wildenstein has begun in Paris. In one of the biggest-ever cases of its kind, the 70-year-old faces 10 years in jail if convicted.
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