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Topic: [2016-04-08]The Panama Papers-Bitcoin Connection (Read 349 times)

legendary
Activity: 1904
Merit: 1074
One positive thing to come out of these leaked documents was that Bitcoin was only ONE method to transfer wealth. These corrupt officials mostly used traditional fiat systems to hide this money. They

cannot point a finger to Bitcoin, if they themselves are guilty of using other methods not linked to Bitcoin. These include banks being used to hide this money. This just shows how genius these wealthy

people are and how much power they have over these institutions.  Roll Eyes

It is not illegal in many cases to have offshore bank accounts. But they are used in some instances by wealthy individuals and criminals to hide money and business transactions, and to avoid paying

taxes.
hero member
Activity: 952
Merit: 576
üddeutsche Zeitung, in collaboration with The Consortium For Investigative Journalists, revealed 11.5 million leaked confidential documents from a Panama-based law firm, Mossack Fonseca. The documents reveal a shadowy network of politicians, celebrities and other powerful people concealing their wealth.

While Bitcoin is not directly mentioned in the documents, there are connections between the Papers and the digital currency. Here are some of the individuals named in the documents, and their sometimes loose, sometimes major, connections to Bitcoin. I’ll start with the major connection.

Mexican President  Enrique Peña Nieto’s “favorite contractor” was mentioned in the documents, which revealed “a complex offshore network” spread across the world.

At the beginning of April, Andrés Sepúlveda claimed to rig the Mexican election which brought Nieto to power for $600,000. While doing this, he claims to have rented servers in Russia and the Ukraine with bitcoins. He calls the Nieto campaigns “one of the dirtiest Latin American campaigns in recent memory” and “one of his most complex” rigging operations.

Listed in the Papers is Argentine President Mauricio, who met with Richard Branson and spoke with him about Bitcoin, drug control and space flight.

read full article here; https://www.cryptocoinsnews.com/panama-papers-bitcoin-connection/
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