Zuma's nephew named in Leaked Panama investments by the powerful

Among a long list of looters named is Zuma's nephew with $100 million investment in a foreign tax haven country.   That is only part of the family loot under Zuma.  How much more of our money has been taken out of the country by Zuma and his cronies?
"Mining magnate Khulubuse Zuma has been thrust into the spotlight again as the world reacts to the leak of millions of documents coined “the Panama papers”. 

This comes as his uncle, President Jacob Zuma, continues to face the fallout from the Nkandla saga.

The controversial tycoon was named in the tranche of documents leaked from Panama-based law firm Mossack Fonseca.

The leaked documents laid bare the private fortunes of millions including world leaders, ferreted away in tax havens across the globe.

- Read more: The Panama papers

The South African connection, which drew the crosshairs to Zuma, is one of his league of companies named Caprikat Limited. 

The company, established in the British Virgin Islands, scored a R100 billion oil deal in the Democratic Republic of Congo.

A City Press investigation in 2010 discovered that President Zuma played a crucial role in the decision by DRC President Joseph Kabila to allocate two oilfields in the northeast of the country to his nephew.

Eight months before Kabila issued a decree for Khulubuse Zuma to bag two of the most prized oil licences in sub-Saharan Africa, Jacob Zuma met his DRC counterpart in Kinshasa, where they allegedly discussed the oilfields.

According to the report, Kabila appropriated the oilfields from Irish oil giant Tullow Oil and allocated them to Khulubuse Zuma months after the presidential summit.

- Read more: Khulubuse Zuma's R100bn oil deal

According to the documents, which News24 has perused, British Virgin Island tax authorities ordered the law firm to furnish further particulars about Zuma.

A letter, sent to Mossack Fonseca by a Financial Investigation Agency official, gave the law firm seven days to hand over Zuma’s details.

“You have not provided all of the information that was requested in Questions 1 and 2 of my letter. Specifically, you have not provided a copy of the due diligence in respect of the above referenced company,” it reads.

According to a report by the Centre for Public Integrity, which published the leaked papers, Mossack Fonseca decided to “end its relationship” with Zuma and Caprikat.

Khulubuse Zuma, a sports car collector and flashy socialite, was one of the men behind the collapse of Aurora's Pamodzi mines.

He and other directors were accused of siphoning off billions of rands which caused the mines to shut down, coasting thousands of jobs.

Efforts to contact the Presidency were unsuccessful at the time of publishing."

 The above story deals with the Kabila-Zuma meeting which resulted in the allocation of a contract to his nephew.
However there was another issue that is certain to raise its head again.  It is the fact that Zuma sent army members to the Central African Republic to protect the operations of Zuma's nephew.   13 Soldiers was killed as a result.
There is also the revelations of Vavi about the visit to Equatorial Guinea by Zuma - where the main discussions end up with Zuma's son and the Guptas being the only real discussions that took place.   
The question is - what has Zuma himself got to do with the business operations of his nephew and his son.  How much of the loot came to him and how much to the nephew and son?    
They should all be in jail for looting the country.

 Mike the anc is rotten through and through and ha ve always been so. Corruption ememrged immediately they took power.I am suprised you didnt know this given your intimate association with them?

 This is a false flag if I ever saw one...nothing wrong with the info....all 100% acurate. The most telling thing is the obvious fact that not one prominent Yank is on that list...and the way that the media almost exclusively focussed on the Putin and Chinese connections. Where's the other half of the story?

 Not surprisingly hussein obummer and hilary clink did their bit. THEY BOTH MUST BE SENT TO JAIL FOR ALONG TIME!

Years before more than a hundred media outlets around the world released stories Sunday exposing a massive network of global tax evasion detailed in the so-called Panama Papers, U.S. President Barack Obama and then-Secretary of State Hillary Clinton pushed for a Bush administration-negotiated free trade agreement that watchdogs warned would only make the situation worse.

Soon after taking office in 2009, Obama and his secretary of state — who is currently the Democratic presidential front-runner — began pushing for the passage of stalled free trade agreements (FTAs) with Panama, Colombia and South Korea that opponents said would make it more difficult to crack down on Panama’s very low income tax rate, banking secrecy laws and history of noncooperation with foreign partners.

Even while Obama championed his commitment to raise taxes on the wealthy, he pursued and eventually signed the Panama agreement in 2011. Upon Congress ratifying the pact, Clinton issued a statement lauding the agreement, saying it and other deals with Colombia and South Korea "will make it easier for American companies to sell their products." She added: "The Obama administration is constantly working to deepen our economic engagement throughout the world, and these agreements are an example of that commitment." HAHAHAHAHAHAHAHHAHA

Critics, however, said the pact would make it easier for rich Americans and corporations to set up offshore corporations and bank accounts and avoid paying many taxes altogether. (ITS WHAT HAPPENS WHEN YOU ELECT DONOR OWNED POLITIANAS - VOTE DONLAD TRUMP!!!)

“A tax haven ... has one of three characteristics: It has no income tax or a very low-rate income tax; it has bank secrecy laws; and it has a history of noncooperation with other countries on exchanging information about tax matters,” Rebecca Wilkins, a senior counsel with Citizens for Tax Justice, a nonpartisan nonprofit that advocates changes in U.S. tax policy, told the Huffington Post in 2011. “Panama has all three of those. ... They’re probably the worst.”

The Panama FTA pushed for by Obama and Clinton, watchdog groups said, effectively barred the United States from cracking down on questionable activities. Instead of requiring concessions of the Panamanian government on banking rules and regulations, combating tax haven abuse in Panama could violate the agreement. Should the U.S. embark on such an endeavor, it could be exposed to fines from international authorities.

“The FTA would undermine existing U.S. policy tools against tax haven activity,” warned consumer watchdog group Public Citizen at the time, saying the agreement would encourage corporations to thwart any U.S. efforts to combat financial secrecy. The group also noted that U.S. government contractors, as well as major financial firms supported by taxpayer bailouts, stood to gain from the trade deal's provisions that could make it harder to crack down on financial secrecy.

Then-Secretary of State Hillary Clinton listens to President Barack Obama speak during a Cabinet meeting at the White House in November 2012.PHOTO: REUTERSDespite the warnings from watchdog groups, some Democratic lawmakers urged the Obama administration to aggressively push for the Panama agreement. According to a 2009 email sent to Clinton by her top State Department aide, high-ranking then-Sen. Max Baucus, D-Mont., was pushing for passage of the Panama and Colombia free trade pacts, and Rep. Charles Rangel, D-N.Y., said "the president had to lend his star power to pushing them through." Obama ultimately did just that,hosting Panama's president at a 2011 Oval Office event touting the proposed trade pact.Major corporations also lobbied for the deal, including, among others, Rupert Murdoch's News Corporation, which at the time maintained 136 Panamanian subsidiaries, according to the Huffington Post.

Obama and Clinton’s support of the FTAs, however, was not universally shared within the Democratic Party. Obama received criticism from many lawmakers, including then-Rep. Mike Michaud, D-Maine, who wrote an op-ed in the Hill two months after the new president was sworn in in 2009.

“Talk about a double whammy: another job-killing Bush trade agreement, and with the country that a Government Accountability Office study identified as one of only eight countries — and the only current or prospective FTA partner — that was listed on all of the major U.S. and international tax-haven watchdog lists,” Michaud wrote then, noting that Obama had promised as a candidate that he would renegotiate the trade agreements. Panama’s unwillingness to sign a tax information treaty with the U.S. is just the tip of the iceberg, he said. 

Before the agreement was ratified, the Obama administration did forge a tax information sharing agreement with the Panamanian government that it said would increase financial transparency. Public Citizen, however, asserted that the separate agreement "does not remedy these problems" of secrecy, noting that it "merely requires Panama to stop refusing to provide information to U.S. officials on specific cases if U.S. officials know to inquire." 

The Sunday reports on the so-called Panama Papers exposed nearly 40 years’ worth of information that included more than 11 million documents on more than 210,000 companies, trusts, foundations and world leaders with offshore dealings in Panama where money laundering, tax avoidance and crime (including funding terrorism) are made easy. The leak, from financial services firm Mossack Fonseca, shows that the organization helped clients perform all of those acts.

The leaks have revealed a suspected billion-dollar money laundering ring that includes many close allies and associates of Russian President Vladimir Putin, and showed that Icelandic Prime Minister Sigmundur David Gunnlaugson has been hiding interest linked to his wife’s wealth. A total of 12 current or former heads of state and 60 people linked to current or former leaders have been revealed to have had secretive dealings in Panama.

VOTE DONALD TRUMP.

 This is a false flag if I ever saw one...nothing wrong with the info....all 100% acurate. The most telling thing is the obvious fact that not one prominent Yank is on that list...and the way that the media almost exclusively focussed on the Putin and Chinese connections. Where's the other half of the story?

 Draad
There seems according to Sanders' speech tonight another side to the story involving the US billionaires.   Fact is that there are 200 000 companies involved and it will take time to work through all of those and identified the crooks from the honest ones.  No doubt that the crooks would own the vast majority of those .       

 That might be so Maaik, but I'm not holding my breath. This "leak" is a controlled one and part of an international power struggle. It also seems that the ANC has lost some ground on the international front. First the FBI named SA in the FIFA scandal, although our part was significantly smaller than the rest, then Hitachi in the US got fined for paying the ANC a bribe with the Mdupi Power Plant Deal and now this. I love it! A few years ago SA could do nothing wrong in the eyes of the West. Things have changed...with more changes to come.