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US Defense Contractor 'Triple Canopy' Turns Up In Panama Papers
Ignacio Balderas, the former CEO of Triple Canopy, in 2010 told a watchdog commission created by Congress that defense contracting companies are an important aid to the Pentagon because they provide extra accountability, Fusion reports. In other words, U.S.-owned companies involved in the contracting industry are far superior to foreign-owned companies, since the latter "avoid paying U.S. taxes, avoid U.S. criminal investigations and jurisdiction, and avoid having to appear before Congress." 'Appear before Congress'....to possibly include the Senate Select Committee On Intelligence (SSCI) or the House Permanent Select Committee On Intelligence (HPSCI). Taxes are of little concern however, those are all factored into the contract. The only problem is that two weeks before Balderas’ testimony before the commission, Triple Canopy took over Edinburgh International, using a shell company Trifecta International Holdings to make the purchase. With this business structure intact, Triple Canopy had the ability to step around accountability measures that apply to U.S. companies, an analysis from Fusion reveals. Edinburgh International is based out of Dubai and runs several of its operations through shell companies in the British Virgin Islands. Mossack Fonseca, the law firm which suffered the leak of 11.5 million documents, registered those companies. Police have since raided the law firm. Posted by: Besoeker 2016-04-15 |
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