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Alternative Market Briefing

Grandstanding politicians wrong on "Paradise Papers', offshore finance is legitimate and beneficial

Wednesday, November 08, 2017

Komfie Manalo, Opalesque Asia:

International financial consultancy deVere Group founder and CEO Nigel Green said that grandstanding politicians are wrong on the Paradise Papers debate, pointing out that offshore financing is legitimate and actually beneficial.

"Grandstanding politicians are misinformed, hypocritical and "demonstrate monumental naivety" on the Paradise Papers debate," he said and added, "The heightened level of sensationalism is out of control, masking the reality of the situation, and is being fuelled by misinformed, politicians out to score cynical political points."

Green made the comments as the British leader of the opposition party, Jeremey Corbyn, and the veteran U.S. Senator and former presidential hopeful, Bernie Sanders, amongst others, speak out publicly in the wake of the leak of more than 13.4 million documents, dubbed the Paradise Papers.

The so-called Paradise Papers leak was first exposed by German newspaper Süddeutsche Zeitung that allegedly contains over 13.4 million files from two offshore providers and the company registries of 19 jurisdictions. In addition, the leak claims to have uncovered the offshore investments of the Queen and hundreds of other wealthy individuals.

The leaked documents also show ......................

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