International Monetary Fund (IMF) researchers estimated in July 2015 that profit shifting by multinational companies costs developing countries around US$213 billion a year, almost two percent of their national income. Igor Angelini, head of Europol's Financial Intelligence Group, said that shell companies "play an important role in large-scale money laundering activities" and that they are often a means to "transfer bribe money". Tax Justice Network concluded in a 2012 report that "designing commercial tax abuse schemes and turning a blind eye upon suspicious transactions have become an inherent part of the work of bankers and accountants".
Bahamians have gone on to win numerous track and field medals at the Olympic Games, IAAF World Championships in Athletics, Commonwealth Games and Pan American Games. Frank Rutherford is the first athletics Olympic medallist for the country. He won a bronze medal for triple jump during the 1992 Summer Olympics. Pauline Davis-Thompson, Debbie Ferguson, Chandra Sturrup, Savatheda Fynes and Eldece Clarke-Lewis teamed up for the first athletics Olympic gold medal for the country when they won the 4 × 100 m relay at the 2000 Summer Olympics. They are affectionately known as the "Golden Girls". Tonique Williams-Darling became the first athletics individual Olympic gold medallist when she won the 400-metre sprint in 2004 Summer Olympics. In 2007, with the disqualification of Marion Jones, Pauline Davis-Thompson was advanced to the gold medal position in the 200 metres at the 2000 Olympics, predating William-Darling.
More InfoA new constitution granting The Bahamas internal autonomy went into effect on 7 January 1964, with Chief Minister Sir Roland Symonette of the UBP becoming the first Premier.:p.73 In 1967, Lynden Pindling of the PLP became the first black Premier of the Bahamian colony; in 1968, the title of the position was changed to Prime Minister. In 1968, Pindling announced that The Bahamas would seek full independence. A new constitution giving The Bahamas increased control over its own affairs was adopted in 1968. In 1971, the UBP merged with a disaffected faction of the PLP to form a new party, the Free National Movement (FNM), a de-racialised, centre-right party which aimed to counter the growing power of Pindling's PLP.
More InfoSlavery was abolished in the British Empire on 1 August 1834. After that British colonial officials freed 78 North American slaves from the Enterprise, which went into Bermuda in 1835; and 38 from the Hermosa, which wrecked off Abaco Island in 1840. The most notable case was that of the Creole in 1841: as a result of a slave revolt on board, the leaders ordered the US brig to Nassau. It was carrying 135 slaves from Virginia destined for sale in New Orleans. The Bahamian officials freed the 128 slaves who chose to stay in the islands. The Creole case has been described as the "most successful slave revolt in U.S. history".
More InfoDuring the American War of Independence in the late 18th century, the islands became a target for US naval forces. Under the command of Commodore Esek Hopkins; US Marines, the US Navy occupied Nassau in 1776, before being evacuated a few days later. In 1782 a Spanish fleet appeared off the coast of Nassau, and the city surrendered without a fight. Spain returned possession of The Bahamas to Great Britain the following year, under the terms of the Treaty of Paris. Before the news was received however, the islands were recaptured by a small British force led by Andrew Deveaux.
More InfoIn 1670, King Charles II granted the islands to the Lords Proprietors of the Carolinas in North America. They rented the islands from the king with rights of trading, tax, appointing governors, and administering the country from their base on New Providence. Piracy and attacks from hostile foreign powers were a constant threat. In 1684, Spanish corsair Juan de Alcon raided the capital Charles Town (later renamed Nassau), and in 1703, a joint Franco-Spanish expedition briefly occupied Nassau during the War of the Spanish Succession.
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