" Gillmor sez, "Looks like corporations (i.e. the people who control them) have more rights to privacy in America than regular citizens.
This terrific investigative piece by Reuters (co-reported by one of my colleagues at Arizona State University) exposes yet another dirty secret of corporate America's power over federal and state governments. They don't need to go to the Caymans and other such havens to create nearly impenetrable secrecy. They can do it right here at home by using pathetically weak state laws -- plainly weak by design -- to hide sometimes sleazy doings.
It's yet another example of the way the deck has been stacked by corporate America in its own favor."
A Reuters investigation has found the house at 2710 Thomes Avenue serves as a little Cayman Island on the Great Plains. It is the headquarters for Wyoming Corporate Services, a business-incorporation specialist that establishes firms which can be used as "shell" companies, paper entities able to hide assets.
Special Report: A little house of secrets on the Great Plains
Wyoming Corporate Services will help clients create a company, and more: set up a bank account for it; add a lawyer as a corporate director to invoke attorney-client privilege; even appoint stand-in directors and officers as high as CEO. Among its offerings is a variety of shell known as a "shelf" company, which comes with years of regulatory filings behind it, lending a greater feeling of solidity.
"A corporation is a legal person created by state statute that can be used as a fall guy, a servant, a good friend or a decoy," the company's website boasts. "A person you control... yet cannot be held accountable for its actions. Imagine the possibilities!"
Among the entities registered at 2710 Thomes, Reuters found, is a shelf company sheltering real-estate assets controlled by a jailed former prime minister of Ukraine, according to allegations made by a political rival in a federal court in California.
Everybody knows about the ridiculous McDonald’s hot coffee lawsuit where a lady who spilled coffee on her lap got millions out of McDonald’s in damages for a frivolous lawsuit — and everyone is wrong. As we’ve previously reported, Stella Liebeck sued McDonald’s after sustaining permanently disfiguring third-degree burns to her genitals and thighs because McDonald’s […]
Apple — which is one of the multinational poster children for tax dodging, along with Google, Amazon, Ikea and others — has billions of dollars “offshore” and in theory they can’t bring that money into the USA without paying tax on it; but thanks to some fancy accounting, much of that money is sunk into […]
Evan from Fight for the Future writes, “Ding dong! The Trans-Pacific Partnership (TPP) is dead. Most news articles say the cause of death was simple: the election of Donald Trump. But they’ve only got a tiny part of the story. Now more than ever, it’s critical we share the real story: creative and strategic grassroots […]
One of the best ways to progress a career in project management is through earning recognized certifications. These certifications carry significant clout and don’t require expensive tuition or student loans. This Ultimate Project Management Certification Bundle is a great example of an affordable way to get ahead. It includes training for 9 certifications including PMP, […]
There’s nothing quite like the rush of playing against a real human opponent. But from a developer standpoint, creating fun multiplayer experiences is incredibly complex. Fortunately, the Unity3D game engine has made all aspects of game creation, including multiplayer functionality, as accessible as ever.This Unity Course Bundle introduces all of the necessary elements of creating […]
The 2016 World Series game 7 will undoubtedly go down in history as one of the greatest baseball games of all time. With endless suspense, a nefariously-timed rain delay, and extra innings, it reminded over 40 million viewers why they love America’s pastime – and why all bets were truly off in 2016. Savor the […]