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Featured Isle Of Man

Canada: Wealthy KPMG clients continued to dodge taxes for years after CRA detected offshore ‘sham’

After amassing a fortune selling scrap metal in South Africa, Peter Cooper immigrated to Canada in the mid-1990s with his sons Marshall and Richard and their families. They settled in Victoria, purchased luxurious homes and became permanent residents — qualifying for Canadian health care and other social services. But that… Read More

MPs braced for battle with KPMG over naming wealthy Canadians behind offshore tax shelters

For years, ultra-wealthy Canadians — aided by high-priced accounting and tax law firms — have been setting up offshore shell companies in the Isle of Man so they can dodge taxes back home, avoid paying future creditors (such as ex-spouses) and hide their identities. Now, MPs on the House of Commons finance committee appear… Read More

Expert: Big Number of Isle of Man Offshore Bank Clients are Politicians

By Sadie Brown, OCCRP, 13 May 2021 OCCRP — Politically influential people made up a significant portion of the clients at an offshore bank in the Isle of Man, according to a Brookings Institute researcher who analyzed data from a breach published by Distributed Denial of… Read More

7th May 2021

MPs urged to demand the names of Canadians behind offshore tax shelters

Five years ago, tax law expert André Lareau was blocked from giving testimony before the House of Commons finance committee by a last-minute gag order preventing witnesses from talking about a prominent accounting firm’s tax avoidance scheme. Now, he has a message for the members of Parliament who are today rebooting their probe into offshore companies registered in the Isle of… Read More

29th April 2021

Canada: Ponzi scheme victims call for reopening of probe of transfers in Isle of Man

Victims of a massive investment fraud that operated for years out of Montreal and siphoned more than $500 million offshore are calling on federal politicians to resume an inquiry into Canadian shell companies set up in the Isle of Man, a popular tax haven used by global accounting firms. “On… Read More

7th January 2021

Simon Giles: Rich man in his castle is facing eviction over dirty money claims

In the early 1500s a young Henry VIII visited Lullingstone Castle to take part in jousts and hunts in its extensive grounds. Hundreds of years later, the Kent estate was where Simon Giles, 41, chose to buy a home. It is said that when he was learning to fly he… Read More

20th October 2020

The AML System: A Failure of Statecraft?

Consider the current state of anti-money laundering efforts across the globe. Around 2% of global GDP is laundered annually, amounting to between $800B – $2T. Banks spend around $8B annually fighting it but affect only 0.1% of criminal finance. What we know then is that the ROI of the… Read More

12th October 2020

UK urged to do more to open up tax havens to public scrutiny

Recent events in the British Virgin Islands and Cayman Islands are seen by some as an indication that Britain is showing signs of improving tax transparency in its overseas territories, although activists say more still needs to be done. Two years ago, an amendment made to UK anti-money laundering legislation… Read More

19th August 2020

Tax Rules for the Super-Rich Make the Isle of Man a Haven for Private Jets

OCCRP – Oleg Tinkov is a self-made Russian billionaire with a penchant for private jets and luxury homes around the globe that bear his name, just like the online bank he founded. For years, Tinkov flaunted this lavish lifestyle on social media. In February, his family flew a $58-million… Read More

7th August 2020

Company ownership registers: ‘Don’t dismiss the racial bias claims in Bermuda’

Deputy Kirsten Morel, who chairs the Economic Affairs Scrutiny Panel, recently addressed comments made in Bermuda newspaper The Royal Gazette in an article discussing the territory’s move to introduce legislation for full transparency on company ownership by January 2023. In 2018, the UK parliament passed laws requiring the Overseas Territories… Read More

24th June 2020

Revealed: Scottish property worth billions owned by tax haven firms

Foreign companies own £4.4 billion worth of Scottish property, The Ferret can reveal, leading to calls for greater transparency to stop Scotland losing out on tax revenue. Concerns have also been raised about the need for urgent action to stop criminals using opaque foreign companies to invest in Scottish property… Read More

17th June 2020

The Murky History of Russia’s Largest Sports Betting Company

By Roman Shleynov, OCCRP, 16 June 2020 OCCRP — One day in the summer of 2013, the central Moscow office of Fonbet, Russia’s largest sports betting company, looked like a besieged fortress. Sparks and the smell of burnt metal filled the air. Officers from the anti-corruption directorate of the… Read More

9th June 2020

Armenia’s Golden Palaces: Offshore Millions Evaded Investigators

By Vahe Sarukhanyan and Edik Baghdasaryan, OCCRP, 5 June 2020 OCCRP — When the coronavirus hit Armenia in early March, those who had been exposed to the first confirmed patient were ushered to the mountain resort town of Tsaghkadzor and quarantined at the posh Golden Palace Hotel Resort & Spa. Read More

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