Leaked ‘Pandora’ records show how the powerful shield assets

By MICHAEL LIEDTKE and JONATHAN MATTISE
Associated Press

Calls are growing for an end to the financial secrecy and shell companies that have allowed many of the world’s richest and most powerful people to hide their wealth from tax collectors. The outcry came after a report published Sunday revealed the way that world leaders, billionaires and others have used offshore accounts to keep trillions of dollars out of government treasuries over the past quarter-century, limiting the resources that can be put to work helping the poor or combating climate change. The report, published Sunday, is being dubbed the “Pandora Papers.” Many of the tax dodges are legal, and analysts say one solution is to ban shell companies that help investors avoid paying taxes.