Global scandal "Panama Papers" brings attention to Cheyenne, Wyoming

This week a story--international in scope--emerged of rich, powerful and famous people, offshore accounts, tax evasion schemes and shell companies. Named the "Panama Papers " from 11.5 million documents (2.6 Terabytes worth of digital docs and emails) that were made public from the files of Panamanian based law firm Mossack Fonseca. A couple of the high profile names disclosed in these papers include Russian President Vladamir Putin and Chinese President Xi Jinping. Today, the scandals first victim, the Prime Minister for Iceland, has resigned his position after being implicated in offshore money sheltering schemes. The story, which has already sent shockwaves across the globe, will undoubtedly unfold over the coming months and years. Sadly, there's an element to the story that casting light on the unlikeliest of places: Wyoming. [video] *McClatchy News reporter Kevin G. Hall investigates how foreign nationals are incorporating businesses in Wyoming in this video.* Wyoming and Nevada now rank as the most attractive states and now are competitive with offshore locations in terms of offering safe haven benefits (i.e., anonymity). According to McClatchy News: "Wyoming had 128,000 active business entities at the end of 2015. That’s roughly one entity per every 4.5 residents in a state of about 586,000." Source: read more Mossack Fonseca operate an office in Cheyenne. *(feature image source )* #bootstrapped #news