BACK TO :
RESCOL 1
RESCOL 2

MONEY: CONTENTS

 

 

 

THE PANAMA PAPERS

CARTOONS TAX HAVENS
FINANCIAL SCANDALS IN THE PAST THE PANAMA PAPERS
LESSON PLANS TIMELINE
LISTENING VIDEOS

(Created on 04/04/2016)

 

 

THE PANAMA PAPERS:

 

 

TIMELINE:

 

  • Panama Papers Q&A: How assets are hidden and taxes dodged - 3 April 2016
    "The revelations in the millions of papers leaked from the Panamanian law firm Mossack Fonseca uncovering a suspected money laundering ring run by close associates of Vladimir Putin may leave readers drowning in a sea of confusing terms and phrases.
    They show how Mossack Fonseca has helped clients launder money, dodge sanctions and evade tax."
    (BBC)

 

LISTENING:

  • World Bank Official: Panama Papers Hurting Public Trust - Text + Audio - 15 April 2016
    "The documents show how rich people and world leaders have tried to hide their money and avoid paying taxes.
    World Bank Managing Director Sri Mulyani Indrawati says information in the papers may make everyday citizens less willing to pay taxes."

    (learningenglish.voanews.com)
  • #ResignCameron Rises after 'Panama Papers' - Text + Audio - 8 April 2016
    "People on social media are demanding that a second European leader resign this week.
    They are talking about British Prime Minister David Cameron, after his father was named in the newly-released “Panama Papers.”
    With more than 125,000 tweets, the hashtag #resigncameron trended worldwide on Twitter."

    (learningenglish.voanews.com)
  • Mossack Fonseca: Law Firm Behind 'Panama Papers' - Text + Audio - 8 April 2016
    "For nearly 40 years, a law firm in Panama helped drug dealers, criminals, corrupt politicians, sports stars and billionaires avoid paying taxes. Among them are the prime ministers of Iceland and Pakistan, the president of Ukraine and the King of Saudi Arabia."

    (learningenglish.voanews.com)
  • Iceland Leader Resigns after 'Panama Papers' Release - Text + Audio - 5 April 2016
    "New reports on how the wealthy and powerful use foreign accounts to avoid taxes are drawing lots of anger. And it led directly Tuesday to the resignation of the Iceland prime minister. He and his wife invested overseas with a Panamanian law firm that helps the wealthy avoid taxes."
    (learningenglish.voanews.com)

  • Leaked Files Show How Rich Hide Their Money - Text + Audio - 4 April 2016
    "One Washington Post columnist calls it the "biggest global corruption scandal in history.” Financial documents obtained from a law firm in Panama provide information about the offshore accounts of some of the world’s most powerful people. Reporters looked at 11 million documents."

    (learningenglish.voanews.com)

 

CARTOONS:


PANAMA
(cagle.com)

 

Pnama papers
(cagle.com)


Panama papers
(cagle.com)

 

 

Cartoon: Feeling the Heat
THE CARTOON + TRIVIA NOTES + ALSO SEE
+ Related articles

(englishblog.com)

 


How to explain offshore banking (and when it is naughty)
to a 5 year old

"One Reddit user found a brilliant way using piggy banks,
wardrobes and an angry mum to explain the Panama Papers,
and when it is naughty to use offshore banking."

(theguardian.com)

 

 

Cartoon: Putin's 'Financial Irregularities'
- 5 April 2016
BACKGROUND 1 + BACKGROUND 2 + CARTOON
+ COMMENTARY + VOCABULARY + Related articles

(englishblog.com)

 


Panama papers effect
(cartoonmovement.com)

 

 

VIDEOS:

  • The Panama Papers, explained with piggy banks
    "A massive document leak reveals the secrets of shell companies. Matt Yglesias explains, adapting an analogy from reddit user DanGliesack:
    https://www.reddit.com/r/explainlikeimfive/comments/4d8rta/eli5_the_panama_papers/d1owxn5"

    (YouTube)

 

  • Revealed: How the rich and powerful hide their wealth - VIDEO - 3 april 2016
    "The documents, to which the BBC has had access, show how a law firm helped clients launder money, dodge sanctions, and evade tax. Among the papers are suspicious deals involving a close friend of Russian President, Vladimir Putin."

    (BBC)

 

  • The Panama Papers: Victims of Offshore
    "The Panama Papers is a global investigation into the sprawling, secretive industry of offshore that the world's rich and powerful use to hide assets and skirt rules by setting up front companies in far-flung jurisdictions.
    Based on a trove of more than 11 million leaked files, the investigation exposes a cast of characters who use offshore companies to facilitate bribery, arms deals, tax evasion, financial fraud and drug trafficking.
    Behind the email chains, invoices and documents that make up the Panama Papers are often unseen victims of wrongdoing enabled by this shadowy industry. This is their story.
    For more, go to panamapapers.icij.org"
    (YouTube)

 

 

  • Explained: What Do The Panama Papers Reveal
    "Individuals who have set up offshore entities through the Panama law firm. Some of the Indians floated offshore entities at a time when laws did not allow them to do so; some have taken a technically convenient view that companies acquired is not the same as companies incorporated; some have bunched their annual quota of remittances to subscribe to shares in an offshore entity acquired at an earlier date. Still, some others have received income earned abroad and deposited it in the entity to avoid tax. Some have opened a bank account to keep payoffs in government contracts, or held “proceeds of crime” or property bought with money made illegally in Trusts/ Foundations."

    (YouTube)

 

  • Panama Papers - The Secrets of Dirty Money
    "Over a year ago, an anonymous source contacted the Süddeutsche Zeitung and submitted encrypted internal documents from Mossack Fonseca, a Panamanian law firm that sells anonymous offshore companies around the world. These shell firms enable their owners to cover up their business dealings, no matter how shady."

    (YouTube)

 


LESSON PLANS:

  • Iceland leader quits over Panama Papers (April 07, 2016) - a lesson plan with AUDIO
    "The prime minister of Iceland quit on Tuesday because of a new global financial scandal.
    Sigmundur Gunnlaugsson resigned because his name was in secret documents..."

    (breakingnewsenglish.m)

 

FINANCIAL SCANDALS IN THE PAST:

  • Bernard Lawrence "Bernie" Madoff (/ˈmdɒf/;[1] born April 29, 1938) "is an American fraudster and a former stockbroker, investment advisor, and financier. He is the former non-executive chairman of the NASDAQ stock market,[2] and the admitted operator of a Ponzi scheme that is considered the largest financial fraud in U.S. history.[3]"
    (Wikipedia)

  • The Clearstream Affair
    "Between 2001 and 2002, two books were published by co-authors Denis Robert and Ernest Backes, entitled "Révélation$" and "La Boîte Noire", accusing Clearstream of being a money laundering organisation and the worldwide centre for international financial crime committed by major banks, shell companies and organised crime all over the world. An investigation opened by the Luxembourg authorities in 2001 found no evidence to support the authors' allegations and the case was dismissed in 2004.[21]
    In 2004, a list leaked to a French judge indicated that Clearstream was a money laundering organisation covering illegal activities of French businessmen who were involved in the sale of warships by Thomson-CSF to Taiwan and related bribes paid to French officials and businessmen. An investigation that included the search of Clearstream's premises and an examination of accounts in 2004 found no evidence supporting the accusations.[22]
    In the same year, additional anonymous letters and CD-Roms sent to French judges accused Clearstream of running secret accounts for criminals and senior French politicians. In late 2005, French investigating authorities officially declared the documents as forgeries and dismissed the case.[23]"
    (Wikipedia)

TAX HAVENS: