Panama was in the news last week, when a massive document dump leaked to journalists revealed companies and wealthy individuals around the world were using the country’s lax tax laws to shelter their wealth. But places like Panama aren’t just good for avoiding taxes. They’re also a way to manipulate markets from afar.
The BC Securities Commission (BCSC) has identified a number of offshore accounts in Panama and Switzerland that have been used to conceal trades made by British Columbians, some of which were likely part of pump-and-dump schemes involving U.S. penny stock companies.
NELSON BENNETT – Business in Vancouver – April 12, 2016.
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