Category: Business

Potato boss Paul Rennie ‘can’t recall’ overseas transactions, Federal Court hears

Potato king Paul Rennie has told a court he is unable to explain why he sent millions of dollars to tax havens in transactions revealed by a Project Wickenby investigation. The Federal Court heard Mr Rennie had been raided by federal police, who seized documents related to his Griffith-area potato… – Continue reading

Perenna Kei, World’s Youngest Billionaire, May Be Helping Family Hide Offshore Wealth

More bits of information have emerged regarding China’s secretive, young billionaire Perenna Kei. After Forbes Magazine put Kei on their list of the world’s youngest billionaires, the search for details began. Most publications could not confirm her identity, as several photos were published mistakenly labeling Kei. A new photo of… – Continue reading

Corporate Tax Avoidance: Zara fashion brand owner amasses $10bn property empire

Corporate Tax Avoidance: Inditex, the Spanish owner of Zara, this week announced its first fall in annual profits in five years as the world’s biggest fashion retailer invested in stores while foreign exchange rates moved against it. However, Amancio Ortega Gaona, founding chairman of Inditex, with a stake of 60%… – Continue reading

Documents reveal Kurchenko’s alleged tax evasion schemes

The young Ukrainian ex-billionaire Serhiy Kurchenko, now widely suspected of being a front man for overthrown President Viktor Yanukovych’s family, clearly liked offshore destinations. His companies registered in offshore zones are now accused of trading in oil products using a tax evasion scheme that cost Ukraine’s government an estimated $1… – Continue reading

Fugitive tycoon Zeng Wei’s offshore holdings tied to loan scandal

Fugitive mainland Chinese tycoon Zeng Wei, who is facing extradition to Hong Kong from the United States, is tied to at least five offshore companies, including one that was involved in a multimillion-dollar bribes-for-loans racket investigated by the ICAC, leaked company documents show. The property developer, hotel and golf course… – Continue reading