The story of Suntech’s fall links China to Italy, Germany, London and Wall Street, passing through some of the world’s leading tax havens and ending up — Dolce Vita fashion — in some of the most luxurious spots in Rome...Much of the money involved in the deals moved in and out of tax havens, and many of the individuals involved used offshore companies and accounts to do business — an example of how offshore hideaways often play supporting roles in financial crime cases...Offshore files, court claims and interviews with key players in the Suntech saga paint a picture of shell games spread across several national borders — including an alleged €560 million fraud involving fake German government bonds and money moving across the globe, as Suntech’s lawyers later put it, “in circumstances which are, to say the least, very murky.”-excerpt
Posted on: Tue, 25 Mar 2014 15:58:03 +0000
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