Paradise Papers breach is hell for offshore tax avoiders

Law firm Appleby rails against theft of 1.4TB of data

Media organizations across the globe went into overdrive on Sunday publishing the first in several instalments from a trove of breached secret documents listing dubious financial offshore dealings of the rich and famous.

In what could be one of the biggest breaches of its kind in history, the so-called “Paradise Papers” lift the lid on some questionable practices by figures as diverse as the US commerce secretary, Wilbur Ross, the Queen of England, Tory party donor Lord Ashcroft and organizations including Facebook, Twitter, Nike and Apple.

The 1.4TB data dump is said to come primarily from offshore law firm Appleby, which a fortnight ago issued a lengthy statement in a bid to preempt the revelations.

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The incident comes 18 months after the 2.6TB Panama Papers leak exposed the shady financial dealings of numerous celebs and world leaders including Putin and Chinese President Xi Jinping.

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