Three Mossack Fonseca companies started for clients of Helene Mathieu Legal Consultants were later sanctioned by the US Treasury's Office of Foreign Assets Control (OFAC). Pangates International Corporation was accused in July 2014 of supplying the government of Syria with "a large amount of specialty petroleum products" with "limited civilian application in Syria". The other two, Maxima Middle East Trading and Morgan Additives Manufacturing Co, and their owners Wael Abdulkarim and Ahmad Barqawi, were said to have "engaged in deceptive measures" to supply oil products to Syria.
American film-maker Stanley Kubrick had an estimated personal worth of $20 million when he died in 1999, much of it invested in an 18th-century English manor he bought in 1978. He lived in that manor for the rest of his life, filming scenes from The Shining, Full Metal Jacket and Eyes Wide Shut there as well. Three holding companies set up by Mossack Fonseca now own the property, and are in turn held by trusts set up for his children and grandchildren. Since Kubrick was an American living in Britain, without the trust his estate would have had to pay transfer taxes to both governments and possibly have been forced to sell the property to obtain the liquid assets to pay them. Kubrick is buried on the grounds along with one of his daughters, and the rest of his family still lives there.
More InfoLegislative power is vested In a bicameral parliament, which consists of a 38-member House of Assembly (the lower house), with members elected from single-member districts, and a 16-member Senate, with members appointed by the governor-general, including nine on the advice of the Prime Minister, four on the advice of the leader of Her Majesty's Loyal Opposition, and three on the advice of the prime minister after consultation with the Leader of the Opposition. As under the Westminster system, the prime minister may dissolve Parliament and call a general election at any time within a five-year term.
More InfoLegislative power is vested In a bicameral parliament, which consists of a 38-member House of Assembly (the lower house), with members elected from single-member districts, and a 16-member Senate, with members appointed by the governor-general, including nine on the advice of the Prime Minister, four on the advice of the leader of Her Majesty's Loyal Opposition, and three on the advice of the prime minister after consultation with the Leader of the Opposition. As under the Westminster system, the prime minister may dissolve Parliament and call a general election at any time within a five-year term.
More InfoThe government has adopted incentives to encourage foreign financial business, and further banking and finance reforms are in progress. The government plans to merge the regulatory functions of key financial institutions, including the Central Bank of the Bahamas (CBB) and the Securities and Exchange Commission. The Central Bank administers restrictions and controls on capital and money market instruments. The Bahamas International Securities Exchange consists of 19 listed public companies. Reflecting the relative soundness of the banking system (mostly populated by Canadian banks), the impact of the global financial crisis on the financial sector was limited.
More InfoAmerican film-maker Stanley Kubrick had an estimated personal worth of $20 million when he died in 1999, much of it invested in an 18th-century English manor he bought in 1978. He lived in that manor for the rest of his life, filming scenes from The Shining, Full Metal Jacket and Eyes Wide Shut there as well. Three holding companies set up by Mossack Fonseca now own the property, and are in turn held by trusts set up for his children and grandchildren. Since Kubrick was an American living in Britain, without the trust his estate would have had to pay transfer taxes to both governments and possibly have been forced to sell the property to obtain the liquid assets to pay them. Kubrick is buried on the grounds along with one of his daughters, and the rest of his family still lives there.
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