May 31, 2023

East Valley Times

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Legal Engineering of Pandora Papers | Baker & McKenzie, a powerful American law firm, was featured in the mega-leak

Nietzsche has the doctrine of eternal return or Borges in the period of time. History will always bring us back to the same place. For facts or characters that are repeated. Christine Lagarde, former Managing Director of the IMF And current chairman of the European Central Bank (ECB) Between 1981 and 2005 he worked at Baker & McKenzie, The world’s largest law firm featured in 7,500 Pandora Papers documents. The study, which is attended by 46 countries and 4,700 lawyers, serves billionaires and large corporations Avoid or avoid taxes through legal and financial engineering according to the customer. Tell in detail The International Federation of Investigative Journalists (ICIJ) has recently released a paper leak On a large scale.

The woman celebrated when Mauricio Macri was president, advising elusive companies operating from tax havens while she worked in the private sector. He chaired Baker & McKenzie’s executive and strategic committees and was also the director of its by – law based in the Bermuda Islands, a sea area dominated by financial opacity.

Lagarde was not an occasional executive at a company he commanded from Europe. His CV shows that he was an employee for almost a quarter of a century and occupied hierarchical positions. Your business relationship Tax havens A testimony that became known when he took charge of the ECP in November 2019. But now it takes more power with the Pandora Papers leak. La Picagra Cue La Banga Offshore S Baker & McKenzie Whose income broke a record this year. Its own official page says: It ended on June 30, 2021 with 3.1 billion. For the first time the company surpassed $ 3 billion. Revenue has increased by 7.8% compared to the previous year, and with carefully managed expenses, this translates into revenue growth of 36.7% per annum, ”he says.

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Pillar of the maritime economy

The International Federation of Journalists defines transnational research as “an architect and a pillar of the underground economy, often referred to as the sea, which benefits the rich at the expense of the treasury of nations and the ordinary citizen.” The company cares little about the growing pronounced asymmetry between rich and poor. Your global leader is Milton Cheng Late September, he said, “In such a challenging environment, achieving positive returns is a testament to the great confidence vote from our customers and the hard work and resilience of our people around the world.”

Created in 1949, the studio opened its first maritime office in Caracas, Venezuela. It was 1955, when Peron was thrown out of Argentina and Baker & McKenzie began the phase of international expansion that decade. In an article published two years later in a legal review in Wisconsin, Russell Baker, one of the company’s founders, said: Bearer shares. Holder shares are certificates of stock that do not need to be registered in the name of a particular person or company ”. Baker and his partner did it because of the difficulties that existed in the United States to create companies like John McKenzie.

Today, as the Pandora Papers feed the world media, the Federation of Journalists condemns the law firm and all its representatives on its official website “They have benefited from the work they have done for people involved in fraud and corruption.” He also gives some examples: “The company worked Ukrainian oligarchy Igor KolymovskyU.S. officials have accused the shell companies of embezzling $ 5,500 million through the issue of buying factories and commercial properties in the heart of the United States.

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Baker & McKenzie advised fleeing Malaysian financier Joe Lowe, accused of international fraud. More than $ 4.5 billion, called 1MDB. The law firm offers on its corporate page from these types of consultants: “We are citizens of the world and we recognize that the rule of law is a fundamental foundation for economic growth and development. When the rule of law is strong, business leaders can be confident in investing in the future.

ICIJ could not get a word out from Cheng, the Hong Kong leader of the powerful company, but in its statements Baker McKenzie quoted a spokesman as saying, “The company’s website is its policy on integrity, transparency and professionalism.” And adherence to the highest ethical standards. ”

“We are truthful and transparent” the company declares in its Business Code of Conduct. “We don’t do business with infamous characters,” they defend themselves. The International Federation of Journalists does not think so: “When millionaires, multinational corporations and those with political connections try to hide their wealth or evade taxes, they often turn to the Chicago-based Baker McKenzie,” they quoted the ICIJ as saying. Country Public company in Spain from Spain.

The Chicago-based company’s influence on the Pandora Papers is significant. The world media was responsible for highlighting it: “Baker & McKenzie stands out among banking, accountants, lawyers and instrumental firms. ICIJ has been found to be involved in the affairs of more than 440 companies registered in tax havens. As maintained by the Federation,” It is not surprising that Baker & McKenzie employees have held positions in government agencies such as the Ministry of Justice, the Tax Office, the EU Commission or the Office of the Head of State.

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Tool associations

For ICIJ, in this multinational law firm, the evidence of illegal practices on the frontiers of lawlessness is catastrophic: “Leaked documents reveal that the law firm helped establish a tool partnership in Cyprus for the food and tobacco companies. RJR Nabisco. For Nike, Collaborated to create a Dutch line shelter. According to U.S. court documents, his lawyers helped Facebook To send back billions of dollars in profits to low-tax country Ireland.

As noted in more than 7,500 Pandora Papers documents, Baker & McKenzie stressed that companies or individuals who hire it do not deviate from good practice more than other competing law firms in the United States. But he clarified – according to ICIJ – “Sometimes we see customers doing things that do not agree with our initial verification, or they stop representing new facts or events as they come to light.”

A few words for a good listener.

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