Hi James,
That is an important clarification - simply because someone appears to own a shell company in Panama or elsewhere does not necessarily mean they have broken the law. Though if their activities are so kosher, I do not understand why politically-sensitive persons in particular have not previously declared that they hold interests in these companies. I find it hard to believe that the majority of shell companies have been established for legitimate purposes (especially when we have certain law firms going out and actively encouraging high net worth individuals to break a country's tax laws, among other things). If the stories which had emerged from the Panama Papers were about people stashing assets in Panama to avoid, say, their home government illegally seizing them, that would be one thing, but those aren't the stories that I have been reading… I suppose this is a topic for another listserv though. But your point is taken - people should be innocent until proven guilty, and there are legitimate reasons for shell companies.
Best wishes, Ayden
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