Stories

The IRE Resource Center is a major research library containing more than 27,000 investigative stories.

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Search results for "shell companies" ...

  • Panama Papers

    The Panama Papers investigation, based on a massive leak of secret offshore records, exposed shell companies linked to 140 politicians in more than 50 countries – including 12 current or former world leaders. The investigation also exposed offshore companies tied to mega-banks, bribery scandals, drug kingpins, American fraudsters, arms traffickers and a network of people close to Russian President Vladimir Putin that shuffled as much as $2 billion around the world. The project was led by the Center for Public Integrity's International Consortium of Investigative Journalists and involved more than 100 news organizations from 80 countries. In all, more than 370 journalists were involved in the collaboration.
  • Cory Briggs

    This series dug deep into the legal and ethical practices of San Diego attorney Cory Briggs who built a business and a reputation suing developers, municipalities and state and federal agencies in the name of the little guy. The results found major undisclosed conflicts of interest (which immediately resulted in a $143,000 reimbursement for taxpayers), a web of more than 40 nonprofits used as shell companies, highly questionable business practices, discrepancies in personal land deals and close business ties to the people he sues.
  • Towers of Secrecy

    Secret buyers, many of them foreign and superrich, are using shell companies to cloak their purchases of expensive U.S. real estate, allowing them to flout building codes and local laws, defraud people of their homes and shield huge cash purchases, raising questions of whether they are seeking to hide suspiciously obtained money.
  • The Russian Laundromat

    Call it the Laundromat. It’s a complex system for laundering more than $20 billion in Russian money stolen from the government by corrupt politicians or earned through organized crime activity. It was designed to not only move money from Russian shell companies into EU banks through Latvia, it had the added feature of getting corrupt or uncaring judges in Moldova to legitimize the funds. The state-of-the-art system provided exceptionally clean money backed by a court ruling at a fraction of the cost of regular laundering schemes. It made up for the low costs by laundering huge volumes. The system used just one bank in Latvia and one bank in Moldova but 19 banks in Russia, some of them controlled by rich and powerful figures including the cousin of Russian President Vladimir Putin.
  • Secrecy for Sale: Inside the Global Offshore Money Maze

    “Secrecy For Sale: Inside The Global Offshore Money Maze” is one of the largest and most complex cross-border investigative projects in journalism history. The International Consortium of Investigative Journalists collaborated with 112 journalists in 58 countries in stripping away the biggest mystery associated with tax havens: the owners of anonymous “shell companies,” which are the tools of choice for money launderers, tax dodgers and other financial wrongdoers. The reporting was based on 2.5 million secret files related to 10 offshore centers. The files contain details on more than 120,000 offshore companies and trusts and nearly 130,000 individuals and agents, in more than 170 countries and territories.
  • Secret Land Deal Topples Top Official

    Palm Beach County Commission Chairman Tony Masilotti used a secret land trust, "shell companies and straw men" to hide his interest in land deals. The Post tells the story of how he made $10 million "using his political influence." The money was never reported on his financial disclosure forms. He was removed from office and erased from the county's Web site.
  • Partners in Crime

    "They fell in love at Saltfeet District High School in Stoney Creek. Thirty years and $100 million later, they were on the run, the culprits behind one of the biggest financial scandals in Canadian history," reports Toronto Life. The article follows the story of Ron and Loren Koval, founders and rulers of King's, a medical facility in Toronto, as well as owners of a financing company called BACC Capital Corp. The investigation reveals that the latter company, "which was matching corporations and hospitals in need of costly equipment with lenders willing to finance" it, was falsifying the lease contracts for nonexistent equipment. The scam also involved transferring the money from the fraudulent contract to King's, and from King's to shell companies.
  • Capitalism in a Cold Climate

    "The story of Trans World's aluminum empire is filled with bribes, shell companies, profiteers, and more than a few corpses. Then again, in today's Russia, that's pretty much par for the course." In 1999 Fortune was invited by Simon and David Reuben, owners of Trans World - previously Russia's second largest aluminum producer - to engage in a deep investigation into all of their empire's questionable business dealings. During the 90's Trans World was immersed in a world of corruption and money laundering, they were also suspected to have ties with the Russian Mafia.
  • Trillion-Dollar Hideaway

    Mother Jones tell us how the rich hide their money from IRS and others in overseas bank accounts. Many small nations, such as Bahamas and Nevis, act as tax havens by offering offshore banking. Wealthy Americans open international business companies which are shell companies that often conduct no real business. The setting up of these companies is usually fast and cheap and these countries do not require them to file any annual or corporate reports.
  • (Untitled)

    Kansas City Star investigates Frank Morgan, the city's largest banker and real estate tycoon, who is a driving force in the metro area's economy; Morgan is at the top of a two-state political machine made up of shell companies, straw parties and quiet partners who run city agencies that generate millions in publicly backed bonds for Morgan companies and banks, March 4 - 9, 1990.