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| The Panama papers reveal convicted Edmonton fraudster Michael Ritter, now known as Adam Rohan, created 60 offshore companies. |
A sprawling industry of tax avoidance professionals — lawyers, financial planners, bankers and accountants — make a living advising the rich how and where to find places to lighten, or even eliminate, their tax responsibilities in Canada.
They are the enablers.
They facilitate a torrent of money out of Canada and into tax havens — a sum estimated to be $100 billion more than the $270 billion that has been officially declared to the government.
An ongoing Toronto Star/CBC investigation into tax havens, based on 11.5 million leaked records belonging to the Panamanian law firm Mossack Fonseca, reveals a sophisticated and sometimes shadowy network of wealth managers who’ve been setting up offshore corporations since the 1970s. (more...)
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