http://www.liveleak.com/browse?q=Virgin+Islands+(British) Wed, 19 Jun 2013 13:53:12 -0400 Liveleak http://edge.liveleak.com/80281E/u/u/ll2/logo.gif http://www.liveleak.com/browse?q=Virgin+Islands+(British) Sat, 15 Jun 2013 23:43:50 -0400 http://www.liveleak.com/view?i=300_1371353794 God_Himself Shahien Nasiripour Christina Wilkie Paul Blumenthal WASHINGTON -- The International Consortium of Investigative Journalists (ICIJ) on Friday made public what it calls the most extensive collection of records on offshore accounts in history, encouraging sleuths to ferret out possible tax evasion. The online portal, called the Offshore Leaks Database , contains hundreds of thousands of records showing corporations set up in so-called "tax-haven" countries, gleaned from the contents of about 2.5 million emails and financial documents that ICIJ said it received in early 2012. Over the past year, the data have been used by journalists around the world to detail alleged tax evasion by billionaires, oligarchs, emirs, princes and multinational corporations on nearly every continent. Publication of the documents may heighten scrutiny of some of the world's largest financial institutions and their clients. Governments worldwide have renewed efforts to stamp out tax avoidance as fiscal authorities, including those from Europe and the United States, confront record budget deficits and slow-growth economies. Click here to search the Offshore Leaks Database. A 2012 report by the Tax Justice Network (TJN) found that untaxed wealth invested in offshore tax havens ran between $28 and $32 trillion dollars, equal to two years' worth of U.S. economic output. The report estimated that if the money were to have been invested in home countries, even at low rates of return, it could have generated hundreds of billions of dollars per year in tax revenue. The TJN report also described the secrecy enveloping the world of offshore tax havens as a "subterranean system that ... is the economic equivalent of an astrophysical black hole." The new ICIJ OffShore Leak Database provides a small window into that world for the public to peruse. The database contains documents covering 30 years from the British Virgin Islands, Cayman Islands, Cook Islands, Singapore, Hong Kong, Samoa, Seychelles, Mauritius, Labuan and Malaysia. According to ICIJ, the information came from a leak of documents from two offshore service companies, Singapore-based Portcullis TrustNet and British Virgin Islands-based Commonwealth Trust Limited (CTL). The documents have been used to unearth stories, starting in April 2013, about tax evasion by politicians in Canada, France, Malaysia, Mongolia, Pakistan and the Philippines; how offshore companies are used to hide the foreign investors in London's real estate market; the use of tax havens to buy and sell on the fine art market; the involvement of companies like Deutsche Bank to help create offshore entities; arms trading in war zones; and how the world's ultra-rich hide their money from taxation. In making the database freely available, ICIJ hopes to engage the public in its ongoing work to expose the use of offshore tax havens by international corporations and wealthy individuals. Readers are encouraged to contact journalists if they come across promising leads. Tax havens are nations that offer favorable tax treatment to assets held within their boundaries, often offering zero or near-zero tax rates with very few questions asked. Bermuda, the British Virgin Islands, Dubai and the micro-state of Jersey, off the coast of England, are just a few of the countries that host corporate entities and trusts created by the world's wealthy and powerful to shield their money from taxes in their home-country. While the transactions listed in the database likely are legal in countries considered to be tax havens, use of offshore accounts by a corporation or individual often are decried as tax evasion in home countries, regardless of the circumstances. In some cases, authorities have targeted offshore accounts when accusing banks of facilitating illegal tax evasion. UBS, Switzerland's largest bank, in 2009 avoided criminal prosecution by entering into a deferred-prosecution agreement and paying $780 million to settle allegations it defrauded the U.S. government. The bank admitted it participated in a scheme to defraud the federal government by "actively assisting or otherwise facilitating" tax evasion by Americans from 2000 to 2007. Peter Kurer, then-chairman of UBS, said at the time : "UBS sincerely regrets the compliance failures in its U.S. cross-border business that have been identified by the various government investigations in Switzerland and the U.S., as well as our own internal review. We accept full responsibility for these improper activities." Thousands of wealthy U.S. customers eventually turned themselves in. The Swiss government also turned over the identities of U.S. account holders to U.S. officials. In 2010, Deutsche Bank, Germany's largest lender, agreed to pay $554 million to U.S. authorities to settle criminal accusations that it helped create fraudulent tax shelters for clients from 1996 to 2002 that deprived the U.S. Treasury of revenue. The bank admitted wrongdoing and entered into a non-prosecution agreement. At the time, the bank said it was "pleased that this investigation, which concerned transactions that ceased more than eight years ago, has come to a resolution." "Since 2002, the bank has significantly strengthened its policies and procedures as part of an ongoing effort to ensure strict adherence to the law and the highest standards of ethical conduct," it added. In response to growing allegations of evasion, the U.S. in 2010 enacted the Foreign Account Tax Compliance Act (FATCA) to enlist financial institutions in the government's fight to recoup lost tax revenues. FATCA forces foreign banks to report information on overseas accounts held by U.S. individuals and businesses, and foreign corporations in which U.S. taxpayers hold a substantial ownership stake. Other nations are now following suit. The eight leading industrialized nations that comprise the Group of Eight (G8) are due to discuss efforts to combat tax dodging at their coming meeting June 17-18 in Northern Ireland. "The upcoming G8 summit is poised to deliver a hammer blow to offshore corporate tax avoidance," Sen. Carl Levin (D-Mich.) said. "The G8 summit should take advantage of the emerging international consensus that we can no longer allow profitable multinational corporations to play one country off another, ducking corporate taxes and leaving other taxpayers to pick up the slack," he added. Banks that structure and facilitate offshore corporate entities designed to minimize tax payments may feel the brunt of the pressure. A review by The Huffington Post of the ICIJ database, which comprises only a portion of the total data trove in the leak, revealed that UBS was linked to more than 3,000 offshore accounts. It allegedly served as a "master client" -- defined by the ICIJ as "an intermediary or go-between who helps a client set up an offshore entity" -- or as a "nominee shareholder," a shareholder who is not the real owner or beneficiary of the corporation. The bank declined to comment. The database shows Deutsche Bank linked to more than 1,000 offshore accounts. A spokesman declined to comment. Though not all of the offshore accounts listed in the database are currently active -- many are listed as defunct or dissolved -- the data covers three decades of offshore accounts, potentially providing tax authorities with a road map to discover tax cheats. A slew of ICIJ-inspired reporting in April had dramatic effects. Herbert Stepic, Raiffeisen Bank International chief executive, resigned his post after news reports alleged he had numerous offshore accounts. A month later, police in South Korea raided the home of business titan Lee Jay-Hyun, CJ Group chairman and a billionaire grandson of Samsung founder Lee Byung-Chul, as part of a tax evasion probe. The revelations unearthed by ICIJ and journalists around the world also prompted stern responses from a number of European leaders, and in some cases helped lead to calls for changes in laws to promote banking transparency and prevent tax evasion. In May, British Prime Minister David Cameron said at a White House press conference that "we need to know who really owns a company, who profits from it, whether taxes are paid." Algirdas Semeta, the European commissioner for taxation, said: "Recent developments, fueled by the outcome of the Offshore Leaks, confirms the urgency for more and better action against tax evasion." Semeta further called for European nations operating as tax havens , including Luxembourg and Monaco, as well as protectorates controlled by European countries like the British Virgin Islands, to adopt the European Union's standard of banking transparency. After Semeta's statements, Luxembourg announced that it would end secret banking for investments by European nationals. Britain's overseas territories also announced that they would begin sharing banking information with the United Kingdom, France, Germany, Italy and Spain. In Washington, ongoing congressional hearings on American companies' use of offshore tax havens to avoid paying U.S. corporate taxes appeared to reach an apex in May, when Apple CEO Tim Cook testified before Levin's Senate investigative subcommittee on the company's aggressive use of strategies allegedly for the sole purpose of minimizing taxes. "We pay all the taxes we owe, every single dollar. We not only comply with the laws, but we comply with the spirit of the laws," Cook said. http://www.huffingtonpost.com/2013/06/14/offshore-tax-haven-_n_3443722.html http://www.liveleak.com/view?i=300_1371353794 God_Himself Offshore Tax-Haven Data Made Public As Companies Brace For Scrutiny FOLLOW: islands & beaches, Apple, Video, Deutsche Bank, Tax Evasion, Corporate Taxes, Offshore Tax Haven, Offshore Tax Havens, Tax Havens, Tim Cook, Ubs, Politics News Tue, 11 Jun 2013 16:47:50 -0400 http://www.liveleak.com/view?i=d2d_1370983370 jimbo469 WORLD MURDER STATISTICS From the World Health Organization: The latest Murder Statistics for the world: Murders per 100,000 citizens. Honduras 91.6 El Salvador 69.2 Cote d'lvoire 56.9 Jamaica 52.2 Venezuela 45.1 Belize 41.4 US Virgin Islands 39.2 Guatemala 38.5 Saint Kits and Nevis 38.2 Zambia 38.0 Uganda 36.3 Malawi 36.0 Lesotho 35.2 Trinidad and Tobago 35.2 Colombia 33.4 South Africa 31.8 Congo 30.8 Central African Republic 29.3 Bahamas 27.4 Puerto Rico 26.2 Saint Lucia 25.2 Dominican Republic 25.0 Tanzania 24.5 Sudan 24.2 Saint Vincent and the Grenadines 22.9 Ethiopia 22.5 Guinea 22.5 Dominica 22.1 Burundi 21.7 Democratic Republic of the Congo 21.7 Panama 21.6 Brazil 21.0 Equatorial Guinea 20.7 Guinea-Bissau 20.2 Kenya 20.1 Kyrgyzstan 20.1 Cameroon 19.7 Montserrat 19.7 Greenland 19.2 Angola 19.0 Guyana 18.6 Burkina Faso 18.0 Eritrea 17.8 Namibia 17.2 Rwanda 17.1 Mexico 16.9 Chad 15.8 Ghana 15.7 Ecuador 15.2 North Korea 15.2 Benin 15.1 Sierra Leone 14.9 Mauritania 14.7 Botswana 14.5 Zimbabwe 14.3 Gabon 13.8 Nicaragua 13.6 French Guiana 13.3 Papua New Guinea 13.0 Swaziland 12.9 Bermuda 12.3 Comoros 12.2 Nigeria 12.2 Cape Verde 11.6 Grenada 11.5 Paraguay 11.5 Barbados 11.3 Togo 10.9 Gambia 10.8 Peru 10.8 Myanmar 10.2 Russia 10.2 Liberia 10.1 Costa Rica 10.0 Nauru 9.8 Bolivia 8.9 Mozambique 8.8 Kazakhstan 8.8 Senegal 8.7 Turks and Caicos Islands 8.7 Mongolia 8.7 British Virgin Islands 8.6 Cayman Islands 8.4 Seychelles 8.3 Madagascar 8.1 Indonesia 8.1 Mali 8.0 Pakistan 7.8 Moldova 7.5 Kiribati 7.3 Guadeloupe 7.0 Haiti 6.9 Timor-Leste 6.9 Anguilla 6.8 Antigua and Barbuda 6.8 Lithuania 6.6 Uruguay 5.9 Philippines 5.4 Ukraine 5.2 Estonia 5.2 Cuba 5.0 Belarus 4.9 Thailand 4.8 Suriname .6 Laos 4.6 Georgia 4.3 Martinique 4.2 And ................... The United States 4.2 !!!!!!!!!!!! ALL the countries (109) above America have 100% gun bans. It might be of interest to note that SWITZERLAND (not shown on this list) has NO MURDER OCCURRENCE! However, SWITZERLAND'S law requires that EVERYONE.... 1. Own a Gun 2. Maintain Marksman qualifications....regularly 3. "Carry"........a Weapon. We never hear about this? I am not surprised, because this does not advance the Liberals' Agenda. http://www.liveleak.com/view?i=d2d_1370983370 jimbo469 USA should ban all guns guns, murder Thu, 04 Apr 2013 14:19:03 -0400 http://www.liveleak.com/view?i=a43_1365099332 dcmfox David Leigh The Guardian, Wednesday 3 April 2013 18.59 EDT Millions of internal records have leaked from Britain's offshore financial industry, exposing for the first time the identities of thousands of holders of anonymous wealth from around the world, from presidents to plutocrats, the daughter of a notorious dictator and a British millionaire accused of concealing assets from his ex-wife.The leak of 2m emails and other documents, mainly from the offshore haven of the British Virgin Islands (BVI), has the potential to cause a seismic shock worldwide to the booming offshore trade, with a former chief economist at McKinsey estimating that wealthy individuals may have as much as $32tn (lb21tn) stashed in overseas havens.In France, Jean-Jacques Augier, President Francois Hollande's campaign co-treasurer and close friend, has been forced to publicly identify his Chinese business partner. It emerges as Hollande is mired in financial scandal because his former budget minister concealed a Swiss bank account for 20 years and repeatedly lied about it.In Mongolia, the country's former finance minister and deputy speaker of its parliament says he may have to resign from politics as a result of this investigation.But the two can now be named for the first time because of their use of companies in offshore havens, particularly in the British Virgin Islands, where owners' identities normally remain secret.The names have been unearthed in a novel project by the Washington-based International Consortium of Investigative Journalists , in collaboration with the Guardian and other international media, who are jointly publishing their research results this week. The naming project may be extremely damaging for confidence among the world's wealthiest people, no longer certain that the size of their fortunes remains hidden from governments and from their neighbours.BVI's clients include Scot Young, a millionaire associate of deceased oligarch Boris Berezovsky. Dundee-born Young is in jail for contempt of court for concealing assets from his ex-wife.Young's lawyer, to whom he signed over power of attorney, appears to control interests in a BVI company that owns a potentially lucrative Moscow development with a value estimated at $100m.Another is jailed fraudster Achilleas Kallakis. He used fake BVI companies to obtain a record-breaking lb750m in property loans from reckless British and Irish banks.As well as Britons hiding wealth offshore, an extraordinary array of government officials and rich families across the world are identified, from Canada, the US, India, Pakistan, Indonesia, Iran, China, Thailand and former communist states.The data seen by the Guardian shows that their secret companies are based mainly in the British Virgin Islands. Sample offshore owners named in the leaked files include: o Jean-Jacques Augier, Francois Hollande's 2012 election campaign co-treasurer, launched a Caymans-based distributor in China with a 25% partner in a BVI company. Augier says his partner was Xi Shu, a Chinese businessman.o Mongolia's former finance minister. Bayartsogt Sangajav set up "Legend Plus Capital Ltd" with a Swiss bank account, while he served as finance minister of the impoverished state from 2008 to 2012. He says it was "a mistake" not to declare it, and says "I probably should consider resigning from my position".o The president of Azerbaijan and his family. A local construction magnate, Hassan Gozal, controls entities set up in the names of President Ilham Aliyev's two daughters.o The wife of Russia's deputy prime minister. Olga Shuvalova's husband, businessman and politician Igor Shuvalov, has denied allegations of wrongdoing about her offshore interests.oA senator's husband in Canada. Lawyer Tony Merchant deposited more than US$800,000 into an offshore trust. He paid fees in cash and ordered written communication to be "kept to a minimum". o A dictator's child in the Philippines: Maria Imelda Marcos Manotoc, a provincial governor, is the eldest daughter of former President Ferdinand Marcos, notorious for corruption.o Spain's wealthiest art collector, Baroness Carmen Thyssen-Bornemisza, a former beauty queen and widow of a Thyssen steel billionaire, who uses offshore entities to buy pictures.o US: Offshore clients include Denise Rich, ex-wife of notorious oil trader Marc Rich, who was controversially pardoned by President Clinton on tax evasion charges. She put $144m into the Dry Trust, set up in the Cook Islands.It is estimated that more than $20tn acquired by wealthy individuals could lie in offshore accounts. The UK-controlled BVI has been the most successful among the mushrooming secrecy havens that cater for them.The Caribbean micro-state has incorporated more than a million such offshore entities since it began marketing itself worldwide in the 1980s. Owners' true identities are never revealed. Even the island's official financial regulators normally have no idea who is behind them. The British Foreign Office depends on the BVI's company licensing revenue to subsidise this residual outpost of empire, while lawyers and accountants in the City of London benefit from a lucrative trade as intermediaries.They claim the tax-free offshore companies provide legitimate privacy. Neil Smith, the financial secretary of the autonomous local administration in the BVI's capital Tortola, told the Guardian it was very inaccurate to claim the island "harbours the ethically challenged".He said: "Our legislation provides a more hostile environment for illegality than most jurisdictions". Smith added that in "rare instances ...where the BVI was implicated in illegal activity by association or otherwise, we responded swiftly and decisively".The Guardian and ICIJ's Offshore Secrets series last year exposed how UK property empires have been built up by, among others, Russian oligarchs, fraudsters and tax avoiders, using BVI companies behind a screen of sham directors.Such so-called "nominees", Britons giving far-flung addresses on Nevis in the Caribbean, Dubai or the Seychelles, are simply renting out their names for the real owners to hide behind.The whistleblowing group WikiLeaks caused a storm of controversy in 2010 when it was able to download almost two gigabytes of leaked US military and diplomatic files.The new BVI data, by contrast, contains more than 200 gigabytes, covering more than a decade of financial information about the global transactions of BVI private incorporation agencies. It also includes data on their offshoots in Singapore, Hong Kong and the Cook Islands in the Pacific. http://www.liveleak.com/view?i=a43_1365099332 dcmfox Leaks reveal secrets of the rich who hide cash offshore leeks, reveal, secrets, rich, people, hidden, offshore, cash Thu, 09 May 2013 19:22:12 -0400 http://www.liveleak.com/view?i=258_1368141186 dcmfox By Richard Rubin May 09, 2013 The U.S. Internal Revenue Service has opened cases and begun investigations based on what it calls a "substantial amount" of information it has received on offshore companies and trusts. The U.S., the U.K. and Australia are working together to analyze the data for potential tax-law violations. The countries disclosed their work today and said the data show how residents of countries around the world use offshore accounts in Singapore, the British Virgin Islands, the Cook Islands and the Cayman Islands. "It's enough for us to move on in several cases at least," Michael Danilack, an IRS deputy commissioner for international issues, said in a telephone interview today. "When we see information like that, we usually will pursue what we can on both the owner as well as any advisers that may be involved." The International Consortium of Investigative Journalists released a report on similar -- if not identical -- data April 3. Danilack declined to comment when asked whether it was the same data. He also wouldn't discuss how long the IRS has had the information or how it was obtained. Danilack described the three-country coordination as an announcement to tax agencies around the world that they have information. He said the Canadian government has already requested information. "The unique aspect of this is the multilateral effort that the three of us are essentially kick-starting," he said. To contact the reporter on this story: Richard Rubin in Washington at rrubin12@bloomberg.net To contact the editor responsible for this story: Jodi Schneider at jschneider50@bloomberg.net http://www.businessweek.com/news/2013-05-09/irs-opens-tax-cases-based-on-trove-of-offshore-account-data http://www.liveleak.com/view?i=258_1368141186 dcmfox IRS Opens Tax Cases Based on Trove of Offshore Account Data irs, tax, havens, off, shore, money Thu, 04 Apr 2013 13:49:17 -0400 http://www.liveleak.com/view?i=f95_1365097623 plokiju Millions of internal records have leaked from Britain's offshore financial industry, exposing for the first time the identities of thousands of holders of anonymous wealth from around the world, from presidents to plutocrats, the daughter of a notorious dictator and a British millionaire accused of concealing assets from his ex-wife. The leak of 2m emails and other documents, mainly from the offshore haven of the British Virgin Islands (BVI), has the potential to cause a seismic shock worldwide to the booming offshore trade, with a former chief economist at McKinsey estimating that wealthy individuals may have as much as $32tn (lb21tn) stashed in overseas havens. In France, Jean-Jacques Augier, President Francois Hollande's campaign co-treasurer and close friend, has been forced to publicly identify his Chinese business partner. It emerges as Hollande is mired in financial scandal because his former budget minister concealed a Swiss bank account for 20 years and repeatedly lied about it. In Mongolia, the country's former finance minister and deputy speaker of its parliament says he may have to resign from politics as a result of this investigation. But the two can now be named for the first time because of their use of companies in offshore havens, particularly in the British Virgin Islands, where owners' identities normally remain secret. The names have been unearthed in a novel project by the Washington-based International Consortium of Investigative Journalists , in collaboration with the Guardian and other international media, who are jointly publishing their research results this week. The naming project may be extremely damaging for confidence among the world's wealthiest people, no longer certain that the size of their fortunes remains hidden from governments and from their neighbours. BVI's clients include Scot Young, a millionaire associate of deceased oligarch Boris Berezovsky. Dundee-born Young is in jail for contempt of court for concealing assets from his ex-wife. Young's lawyer, to whom he signed over power of attorney, appears to control interests in a BVI company that owns a potentially lucrative Moscow development with a value estimated at $100m. Another is jailed fraudster Achilleas Kallakis. He used fake BVI companies to obtain a record-breaking lb750m in property loans from reckless British and Irish banks. As well as Britons hiding wealth offshore, an extraordinary array of government officials and rich families across the world are identified, from Canada, the US, India, Pakistan, Indonesia, Iran, China, Thailand and former communist states. The data seen by the Guardian shows that their secret companies are based mainly in the British Virgin Islands. Sample offshore owners named in the leaked files include: o Jean-Jacques Augier, Francois Hollande's 2012 election campaign co-treasurer, launched a Caymans-based distributor in China with a 25% partner in a BVI company. Augier says his partner was Xi Shu, a Chinese businessman. o Mongolia's former finance minister. Bayartsogt Sangajav set up "Legend Plus Capital Ltd" with a Swiss bank account, while he served as finance minister of the impoverished state from 2008 to 2012. He says it was "a mistake" not to declare it, and says "I probably should consider resigning from my position". o The president of Azerbaijan and his family. A local construction magnate, Hassan Gozal, controls entities set up in the names of President Ilham Aliyev's two daughters. o The wife of Russia's deputy prime minister. Olga Shuvalova's husband, businessman and politician Igor Shuvalov, has denied allegations of wrongdoing about her offshore interests. oA senator's husband in Canada. Lawyer Tony Merchant deposited more than US$800,000 into an offshore trust. He paid fees in cash and ordered written communication to be "kept to a minimum". o A dictator's child in the Philippines: Maria Imelda Marcos Manotoc, a provincial governor, is the eldest daughter of former President Ferdinand Marcos, notorious for corruption. o Spain's wealthiest art collector, Baroness Carmen Thyssen-Bornemisza, a former beauty queen and widow of a Thyssen steel billionaire, who uses offshore entities to buy pictures. o US: Offshore clients include Denise Rich, ex-wife of notorious oil trader Marc Rich, who was controversially pardoned by President Clinton on tax evasion charges. She put $144m into the Dry Trust, set up in the Cook Islands. It is estimated that more than $20tn acquired by wealthy individuals could lie in offshore accounts. The UK-controlled BVI has been the most successful among the mushrooming secrecy havens that cater for them. The Caribbean micro-state has incorporated more than a million such offshore entities since it began marketing itself worldwide in the 1980s. Owners' true identities are never revealed. Even the island's official financial regulators normally have no idea who is behind them. The British Foreign Office depends on the BVI's company licensing revenue to subsidise this residual outpost of empire, while lawyers and accountants in the City of London benefit from a lucrative trade as intermediaries. They claim the tax-free offshore companies provide legitimate privacy. Neil Smith, the financial secretary of the autonomous local administration in the BVI's capital Tortola, told the Guardian it was very inaccurate to claim the island "harbours the ethically challenged". He said: "Our legislation provides a more hostile environment for illegality than most jurisdictions". Smith added that in "rare instances ...where the BVI was implicated in illegal activity by association or otherwise, we responded swiftly and decisively". The Guardian and ICIJ's Offshore Secrets series last year exposed how UK property empires have been built up by, among others, Russian oligarchs, fraudsters and tax avoiders, using BVI companies behind a screen of sham directors. Such so-called "nominees", Britons giving far-flung addresses on Nevis in the Caribbean, Dubai or the Seychelles, are simply renting out their names for the real owners to hide behind. The whistleblowing group WikiLeaks caused a storm of controversy in 2010 when it was able to download almost two gigabytes of leaked US military and diplomatic files. The new BVI data, by contrast, contains more than 200 gigabytes, covering more than a decade of financial information about the global transactions of BVI private incorporation agencies. It also includes data on their offshoots in Singapore, Hong Kong and the Cook Islands in the Pacific. http://www.guardian.co.uk/uk/2013/apr/03/offshore-secrets-offshore-tax-haven http://www.liveleak.com/view?i=f95_1365097623 plokiju Leaks reveal secrets of the rich who hide cash offshore Leaks, reveal, secrets, rich, who, hide, cash, offshore Thu, 17 Mar 2011 19:21:11 -0400 http://www.liveleak.com/view?i=34a_1300403286 carrolltrust The US Congress Senate Oversight Committee responsible for the nations security and financial well being are understood to be also taking a close interest following recent announcements by close aides to President Obama concerning the new pivotal offshore tax evasion and banking legislation which is thought in Washington to be a critical further lever of strategic command and control for the US Justice Department and the FBI in the concrete fight back against white collar organized crime tax fraud and terror funding related activities which have seriously undermined the much sought after economic recovery for America's main street who have suffered greatly at the hands of the financial sector. Sources have disclosed that the tax havens of the Bahamas British Virgin Islands Gibraltar and the Cayman Islands have all been utilized effectively as criminal offshore money laundering platforms in the Carroll Foundation Trust and parallel massive Carroll Maryland Trust national security public interests case. Further sources have revealed that the FBI Headquarters in Washington DC have obtained new explosive Carroll Trust case files which are understood to contain a startling litany of compelling forensic evidential material surrounding the fraudulent incorporation of dummy forged and falsified offshore corporations which effectively impulsed this massive offshore tax evasion fraud heist operation which stretches the globe. The Carroll Foundation Trust criminal case is one of the largest ever ongoing white collar organized crime offshore tax evasion fraud heist operations in modern economic history. The case dossiers embracing the staggering $1,000,000,000 (one billion dollars) embezzlement of funds liquidation of assets on a world wide basis are held within a complete "lockdown" at the FBI Washington DC field office and the Metropolitan Police Scotland Yard London. International News Networks: http://global-criminal-conspiracy.blogspot.com/ http://www.liveleak.com/view?i=34a_1300403286 carrolltrust Cayman Islands Bahamas BVI Gibraltar Jersey - TAX HAVENS TAX EVASION EXPLOSIVE CARROLL*TRUST - US Homeland Security Case Gibraltar, Bahamas, Crime Syndicate, Cayman Islands, British Virgin Islands, Nassau, Money Laundering, Terror Funding, Scotland Yard, FBI, Sovereign Risk, Banking Regulations, Sharia Banks, UBS, Coutts Bank, Offshore Banking, US Capitol Banking Legislatio Thu, 12 Jul 2012 12:55:51 -0400 http://www.liveleak.com/view?i=238_1342109197 carrolltrust Sensational revelations now unfolding in American and British media reports on the massive Carroll Foundation Trust billion dollars offshore tax evasion scandal has revealed that the former Lord Mayor of the City of London and current chairman of Kingston Smith Sir Michael Snyder and Michael Sinclair who is thought to have been the audit partner for the Carroll Trust's companies "in concert" with Edward Robinson & Co continue to retain a complete audit trail lockdown of the primary fraudulent UK Companies House registered Carroll Trust Corporations which were incorporated by the FBI Scotland Yard targeted offshore crime syndicate in this case of international importance. It has emerged that new explosive prosecution files contain specimen exhibits of the fraudulent State of Delaware registered Carroll Global Corporations which are understood to be linked to a startling array of forged and falsified HSBC International Bahamas Gibraltar Cayman Islands and BVI offshore numbered bank accounts. It is understood that forged tax returns and RBS Coutts & Co dummy banking arrangements effectively impulsed this massive tax fraud heist operation which stretches the globe. The UK Companies House "registered" Carroll Holdings Corporation Ltd forms an integral part of the investigation as this structure was utilised within a multiple "name switch operation" to provide a screen off for the embezzlement of millions of dollars of the Carroll Foundation's liquid funds believed to have been held on deposit in these fraudulent offshore accounts. In a stunning twist further media reports have stated that the entire contents of the Carroll Trust's multi-million dollar Eaton Square Belgravia penthouse and Westminster residences were completely stolen including the theft of priceless US Anglo-Irish national treasures and rare illuminated manuscripts collections dating from the thirteenth century. It is thought that the world renowned Carroll Institute Oxford University academic research establishment under the umbrella of the parallel Carroll Maryland Trust has also been the target of the named white collar crime syndicate which continues to operate in the tax havens of the Bahamas Gibraltar and at premises in the City of London with impunity. International News Networks: http://taxhavencase.blogspot.co.uk/ http://www.liveleak.com/view?i=238_1342109197 carrolltrust Lloyds Bank Fraud Case Spectacular 10 Downing Street Bribery Corruption Expos'e RBS Bank, Smith Williamson , Fraud, Accounting Fraud, Accounting, Law Firm UK, Gibraltar, Bahamas, Nassau, British Virgin Islands, Conspiracies, Money Laundering, Tax Evasion, Banking, Financial Crisis, HSBC Corruption, Coutts Bank, Coutts Strand, Lord H Tue, 23 Feb 2010 11:54:45 -0500 http://www.liveleak.com/view?i=ac3_1266943909 redacro PRNewswire: The U.S. Virgin Islands has promised Captain Morgan's manufacturer, London-based Diageo, LLC, that if it moves its operations from Puerto to St. Croix, it will give the liquor giant nearly half of all revenues it will receive under the program, about $2.7 billion in all. See video. http://www.breitbart.tv/2-7m-in-tax-dollars-going-to-captain-morgan-distillery/ http://www.liveleak.com/view?i=ac3_1266943909 redacro $2.7B in U.S. Tax Dollars meant for schools to Go to British Liquor Giant tax money, schools, Captain Morgan Sun, 28 Jun 2009 12:14:55 -0400 http://www.liveleak.com/view?i=608_1246205386 Hypnojive2 June 26 (Bloomberg) -- In June 2008, U.S. Virgin Islands Governor John deJongh Jr. agreed to give London-based Diageo Plc billions of dollars in tax incentives to move its production of Captain Morgan rum from one U.S. island -- Puerto Rico -- to another, namely St. Croix. DeJongh says he had no idea his deal would help make the world's largest liquor distiller the most unlikely beneficiary of the emergency Troubled Asset Relief Program approved by Congress just four months later. Today, as two 56-foot-high (17-meter-high) tanks for holding fermenting molasses will soon rise from the ground on the Caribbean island of St. Croix, the extent to which dozens of nonbank companies benefited from last October's emergency financial rescue plan is just beginning to come to light. The hurried legislation adopted by a Congress voting under the threat of sudden global economic collapse led to hidden tax breaks for firms in dozens of industries. They included builders of Nascar auto-racing tracks, restaurant chains such as Burger King Holdings Inc., movie and television producers -- and London's Diageo. "It's kind of like the magician's sleight of hand," says former House Ways and Means Committee Chairman William Thomas, a California Republican who ran the committee from 2001 to 2007 and oversaw all tax legislation. "They snuck these things in a bill that was focused on other things." Congress inserted the tax benefits for companies other than banks in a fog of confusion and panic after the House of Representatives rejected the first attempt to fund the bank support effort urged by then President George W. Bush and Treasury Secretary Henry Paulson. Rubber Stamped Lawmakers rubber-stamped the package of arcane, if innocuous-sounding, tax items with one eye on the calendar. An election was only a few weeks away, and legislators were desperate to return home to campaign for their own re-election. A year later, lawmakers and the public are just now discovering some of the curious subsidies tucked into TARP and the government's other massive intervention programs. Four months after TARP took effect, President Barack Obama pushed through a $787 billion bill intended to pump up the nation's economy. That legislation included $20 billion in tax breaks for companies that produce energy from wind and other alternative sources as well as $1.6 billion in relief related to the tax treatment of canceled debt for Sprint Nextel Corp., the third- largest U.S. mobile-phone-service company, and other firms. Like TARP, the stimulus bill was passed quickly, with little scrutiny. 'Backroom Deals' "You had this remarkable brief period with no transparency, filled with backroom deals being made and an absolute blackout of information," says Jim Lucier, a senior political analyst at Capital Alpha Partners LLC, a Washington firm that tracks legislation for hedge funds and institutional investors. Referring to TARP tax breaks, he says, "It's ridiculous and it's a product of the legislative sausage-making machine." Max Baucus, the Montana Democrat who chairs the Senate Finance Committee, spent much of 2008 searching for a way to enact the tax provisions, says Russ Sullivan, the committee's staff director. Baucus recommended to Majority Leader Harry Reid of Nevada that the tax breaks be included in the October bailout bill, Sullivan says. Baucus made the pitch after Paulson's first push to get the bailout bill approved was defeated by the House on Sept. 28. That action precipitated a 778-point fall in the Dow Jones Industrial Average that afternoon. No Controversy Expected The tax breaks, Baucus told senators at the time, wouldn't be controversial because most renewed current law and would bring Senate support for the bill, Sullivan says. The largest added measure would spare more than 25 million U.S. households from a scheduled increase in the alternative minimum tax -- a special levy that eliminates many deductions when they become too high relative to income -- for one year by temporarily indexing the tax for inflation. Baucus didn't know until months later, Sullivan says, that one of those added provisions would steer about $2.7 billion to Diageo over the next three decades. That's because Diageo wasn't even mentioned in the bill and lawmakers didn't realize they were ratifying deJongh's deal by extending the underlying tax policy that made the agreement possible in the first place. $150 Billion Added Paulson requested $700 billion for TARP. Congress added $150 billion in tax breaks and other spending when it crafted and passed the legislation in October. While many U.S. lawmakers didn't know about the Diageo benefit when they voted for the bill, Puerto Rican officials did -- and they didn't like it. DeJongh's compact with the British liquor company meant his territory would get a much larger share of federal tax dollars from rum exports -- and Puerto Rico would lose that money. "We learned about it in March when Puerto Rico complained," Sullivan says of the Diageo deal. The committee is reviewing the arrangement. Its only concern is whether the U.S.V.I., and thus the U.S. government, is contractually obligated to give tax revenue to the company. Under the terms of the deal, the U.S. gives the money to the U.S.V.I., not the company. 'Do What They Want' "The Virgin Islands can do what they want to with their source of revenue," Sullivan says. The legislation, which includes dozens of narrowly written provisions, created a new class of bailout beneficiaries. One, championed by Michigan Representative Dave Camp, the top Republican on the tax-writing House Ways and Means Committee, and supported by Baucus, is saving Nascar track builders $109 million in taxes this year by allowing more generous write-offs. Other tax breaks backed by Baucus help restaurant franchises make renovations by shortening depreciation schedules. Another shaves $478 million during the next decade from tax bills to movie and television producers as a better way of encouraging them to shoot in the U.S. Rose City Archery Inc. of Myrtle Point, Oregon, which makes wooden arrows designed for children, also benefits. The legislation saves the company up to $200,000 a year because it repeals a 39-cent-per-arrow excise tax on Rose City's products. Boy Scouts The company, which makes arrows used by the Boy Scouts of America and other youth organizations, says it costs 30 cents to produce an arrow and so it was being taxed at a rate of more than 100 percent. The added tax breaks prevented the TARP legislation from being rejected a second time, says Michael Steel, a spokesman for House Minority Leader John Boehner. Twenty-six Republicans, including Tim Murphy of Pennsylvania, John Shadegg of Arizona and Zach Wamp of Tennessee, reversed their earlier no votes. Each of the tax provisions has a story -- and plenty of defenders. Congress first passed the tax benefit for Nascar in 2004. It was intended to shield stock-car racetrack companies such as International Speedway Corp. from Internal Revenue Service audits over its use of seven-year depreciation schedules. That time period was originally set for use by amusement parks. The IRS wanted the Daytona Beach, Florida-based owner of the Daytona International Speedway and Talladega Superspeedway and its competitors to deduct construction costs over a longer period. $100 Million for Racetracks The change in the racecar-track tax law will cost the U.S. $100 million during the next decade, according to estimates by the congressional Joint Committee on Taxation (JCT). "The IRS should not be able to whimsically reclassify anyone's tax liability after two decades, which is what they tried to do with regard to motor-sports facilities," says Sage Eastman, a senior adviser on the Ways and Means Committee. "Congress originally acted to provide clarity and certainty in the tax law." Restaurant chains say that they, like racetracks, needed help with construction accounting. Fred Rosenthal, president of Beltsville, Maryland-based Jasper's Restaurants, says his industry needed shorter cost-recovery periods for renovations to restaurants. The October bill changed that time to 15 years from 39 and 1/2 years. That will cost the IRS $8.7 billion over the next decade, according to the JCT. 'Rum Cover Over' At issue in the Diageo case is a federal tax policy known as the rum cover over. That's the share of a $13.50 federal excise tax on every so-called proof gallon of rum sold in the U.S. The money is collected by the U.S. Treasury Department, which then rebates it to the governments of Puerto Rico and the U.S.V.I. to help them pay for social services such as Medicaid. As territories, Puerto Rico and the U.S.V.I. get few direct appropriations from the federal government. The tax has two parts: a permanent $10.50 federal tax dating to 1917 that Washington turns over in full to the territorial governments and a $3 additional tax added in two phases in 1984 and 1993, of which $2.75 is rebated. That second, additional tax expires every two years. That's the portion that was renewed by Congress as part of the October bailout. Iowa Senator Charles Grassley, who has served in Congress since 1975 and is now the top Republican on the tax-writing Senate Finance Committee, says he didn't know about the Diageo agreement. He also says the rum provision always takes him by surprise when it's due to be renewed in what Congress calls ''tax extender bills.'' 'Oh, No' "Every time this comes up, I think it's a new issue and I take it to my staff, and they say, 'Oh, no, we've been doing this for 20 years,'" Grassley says. Ed Kleinbard, who resigned as chief of staff of the nonpartisan JCT in May to become a professor at the University of Southern California's Gould School of Law, says Congress routinely deals with the tax extenders the same way it dealt with the bailout legislation itself: It doesn't study the details. "The fact is that temporary tax subsidies are not reviewed for substance when they are renewed," Kleinbard said in a May 7 speech to the American Bar Association. "Instead, the entire herd of 'extenders' is paraded through the legislative process as a unit," he says. "And just as good cowboys do not lose many yearlings, it is virtually unheard of for an 'extender' to get separated from the rest of the herd and not get renewed." $33 Million for Tuna Canning That means provisions such as a $5,000 tax credit for first-time buyers of houses in the District of Columbia have become a de facto part of the tax law since first becoming a temporary benefit in 1997. It also effectively cements a $33 million break for companies that invest in American Samoa. That benefit had been targeted at tuna canners such as Del Monte Foods Co., which owned the StarKist tuna brand until Seoul, South Korea-based Dongwon Group bought it in June 2008. Del Monte is based in House Speaker Nancy Pelosi's San Francisco district. The $2.7 billion Diageo tax break in the October bailout bill gives the most financial aid to a non-U.S. company. "I don't think that the taxpayers knew they were investing in Captain Morgan when the Congress was considering the first bailout bill," says Steve Ellis, vice president of Taxpayers for Common Sense, a Washington-based government watchdog group. Taxpayers Fund Distillery "What happened is we sent taxpayer money to effectively build a distillery in the Virgin Islands that will benefit Diageo, one of the world's largest conglomerates," Ellis says, The Diageo deal started shortly after deJongh took office in 2007. The governor says the company contacted him to say it planned to leave Puerto Rico after having decided the U.S.V.I. might be a better location to produce Captain Morgan. He negotiated with the company for 18 months before cementing the arrangement in June 2008. Diageo bought Captain Morgan from Seagram Co. in 2001 and was making plans to move from Puerto Rico in any circumstance, says Diageo executive Dan Kirby, who's in charge of what the company has dubbed "Project Island." It wanted a long-term supply of rum and direct control of production. So it decided not to renew its contract with the current maker of its base rum, family-owned Destileria Serralles Inc. in Ponce, Puerto Rico. In the deal, the U.S.V.I. agreed to build a distillery for Diageo, using $250 million in public bonds that will be repaid with federal excise taxes from the U.S. Subsidies to Diageo The U.S.V.I. will give subsidies representing as much as 44.5 percent of that revenue to Diageo to promote Captain Morgan and provide a form of funding for molasses from sugar-growing countries. Fitch Ratings on June 19 rated the bonds BBB-, one notch above junk, and cited, "a potential change in the USVI's use of matching funds to incentivize distillers." It gave the debt a so-called stable outlook based on "the expected continuation of the matching fund payments by the U.S. government." Fitch noted that one risk was the introduction of legislation proposed by Puerto Rico resident commissioner Pedro Pierluisis to deny Diageo any tax benefits. "Passage of such legislation in Fitch's view is remote," the agency said. Diageo also qualifies for additional tax incentives, reducing its U.S.V.I. tax liabilities to as low as 3.5 percent, from 35 percent. In exchange, Diageo agreed to stay in St. Croix for at least 30 years and hire 40 or more local workers. Washington Trip In March, deJongh, 51, describes the history of the agreement in his office in the Government House, a mustard- colored stucco building that blends in with the colonial Danish architecture of Christiansted, St. Croix's largest town. He says he traveled to Washington in June 2008 to brief federal officials. He met with Representative Charles Rangel of New York, who's chairman of the Ways and Means Committee; Senate Energy and Natural Resources Committee Chairman Jeff Bingaman of New Mexico; West Virginia Senator Jay Rockefeller; and then Interior Secretary Dirk Kempthorne. "We wanted to be very upfront with everybody about what we were doing," says deJongh, a former commercial banker for what's now JPMorgan Chase & Co. As part of the transparency, he says, all of the information was posted on the territorial government's Web site. "I don't view it as federal money. I view this primarily as dollars that the federal government has said to the territories, 'They're means by which you can grow,'" deJongh says. A Coup For Diageo, the deal was a coup that will give the company more control over production. It will also cut costs and expand the market for Captain Morgan rum, which is already the fastest- growing major rum brand in the world, according to London-based Euromonitor International Plc, which tracks such information. "It's outrageous that someone said, 'I'll give you 50 cents on the dollar to move your location' to a foreign-based company where nothing new was being created," former Representative Thomas says. Diageo, which had a stock market value of 21 billion pounds ($35 billion) as of June 8, reported net sales of 5.07 billion British pounds in 2008. Revenue from selling rum accounted for 5 percent of Diageo's income. Still, Captain Morgan, named for Henry Morgan, the 17th-century Jamaican privateer, is a major driver of earnings for Diageo, spokeswoman Zsoka McDonald says. Guinness, Johnnie Walker The company's other premium brands include Guinness beer, Jose Cuervo tequila and Johnnie Walker whisky. Captain Morgan has about 25 percent of the global rum market, according to Euromonitor. Diageo's share price declined 12.8 percent in 2009 as of June 8, trading at 842.5 pence ($13.73). In February, the company cut its earnings forecast for the year to a projected profit of 4 percent to 6 percent, less than its previous estimate of as much as 9 percent, because of the weak global economy. Diageo executive Kirby and Michael Bertman, the company's Washington lobbyist, walk the property line where the distillery will be built on St. Croix. Kirby, 52, says an estate once owned by Alexander Hamilton had rum shipped from St. Croix to George Washington's soldiers to keep them warm at Valley Forge during the American Revolution. "Is it better for Captain Morgan to come here with the inducements? Yes," Bertman, 42, says. "It's better than we have now, without a doubt, to create a better price for our rum. We're a lot bigger, and we're going to get a lot bigger." 'Much Different' Bertman says the tax revenue generated by Captain Morgan will help the U.S.V.I. more than it served Puerto Rico -- even after Diageo pockets its share -- because Puerto Rico's $74 billion economy dwarfs that of the U.S.V.I., with a $1.6 billion economy. "It's a much different place than Puerto Rico," he says. "The impact of this money on this territory compared to that economy, it's very, very different." In Puerto Rico, however, deJongh's deal is seen as nothing short of theft. "Being creative as a governor is one of the things that you get elected to do, but I'm not sure that you can call this creative; it's acting like a pirate," says Roberto Serralles, a vice president at Destileria Serralles. The company has made Captain Morgan for a quarter century and may have to lay off 330 workers when production moves to St. Croix, Serralles, 42, says. Bacardi Rum The territory's lobbyists and allies have introduced legislation seeking to undo deJongh's deal. Puerto Rico -- home to Bacardi Corp., which has the world's best-selling rum brand according to Euromonitor -- has for years produced more of that liquor than any other location in the world. As a result, the island received the lion's share of the U.S. tax rebate, or about $400 million a year. The Diageo move will cut that take by about half. It uses the money to fund public service programs for its 4 million residents, who are U.S. citizens. Puerto Rico receives $4,260 per person in federal spending compared with an average of $8,339 in the 50 U.S. states, according to Census Bureau data. "This has been, you know, a buffer, it's been a shock absorber," says Puerto Rican Secretary of State Kenneth McClintock, who says the revenue amounts to about 10 percent of the commonwealth's operating budget. "Puerto Rico does need that money -- and right now. As a result of the Diageo thing, we're going to lose out on a lot," McClintock says. 'Sole Brand' Bacardi Chairman Joaquin Bacardi says his company will benefit from Diageo's move to St. Croix. "I feel that we will only be strengthened by the decision of the competition to leave, because we will be the sole, 99 percent basically, Puerto Rican rum brand," he says. He likens the brand's appeal to that of Florida oranges or wine from California's Napa Valley. McClintock, Serralles and Puerto Rican officials say that if Congress repeals the Diageo deal, the entire tax rebate program could fall into jeopardy. Thomas says the Diageo deal should be stopped. "No one should allow it to continue," Thomas says. "To steal business from one island to another -- that's not value added; that's just crazy." A looming $5.5 trillion federal deficit by the end of 2013 may force Congress to challenge tax laws benefiting restaurant chains, racecar track builders and a London-based liquor company. But if history is any guide, taxpayers may find more hidden expenses in financial rescue legislation yet to come. http://www.liveleak.com/view?i=608_1246205386 Hypnojive2 British Rum Maker Got a $2.7 Billion Payout from TARP TARP,Captain Morgan,Troubled Asset Relief Program ,obama administration,banking bailout Thu, 14 Apr 2011 18:39:16 -0400 http://www.liveleak.com/view?i=d8d_1302820458 carrolltrust The Carroll Foundation Trust scandal took a further disturbing twist with new shocking revelations which now involve yet another Police Authority in this white collar organised crime tax fraud heist operation which stretches the globe. Sources have confirmed that the Suffolk Police Service Chief Constable continues to retain the compelling criminal evidential Carroll Trust files concerning the multi-million pound Warren Park at Warren Hill Newmarket which was owned by the Carroll Foundation Trust. It has now been disclosed that Warren Park was the subject of a criminal seizure operation executed by the HSBC banking institution in concert with an FBI targeted Anthony Clarke London Business Angels crime syndicate based in a small suite of offices at 100 Pall Mall London. Political commentators have remarked that the Suffolk Police dossiers disclose a shocking trail of criminal subversive obstruction offences directly involving the tax havens of the Bahamas British Virgin Islands Gibraltar and the Cayman Islands which are thought to have all been utilized effectively as criminal offshore money laundering platforms in the Carroll Foundation Trust and parallel massive Carroll Maryland Trust case. Further sources have revealed that the FBI Washington DC field office have obtained new explosive case files which reflect a startling litany of forged and falsified Barclays HSBC International offshore bank accounts linked to fraudulent Delaware incorporated Carroll Trust Corporations.. The Carroll Trust case is held within a complete lockdown at the FBI Headquarters Washington DC and the Metropolitan Police Scotland Yard London under the supervision of the Commissioner Bernard Hogan-Howe who is believed to have an intimate knowledge of this case of international importance. International News Networks: http://suffolkpolice.blogspot.com/ http://www.liveleak.com/view?i=d8d_1302820458 carrolltrust Suffolk Police Service Fraud Corruption - Sky News Film*Clip - SFO Serious Fraud Office Bribery Scandal Suffolk Police HQ, Suffolk Police, Warren Hill Newmarket, British Horse Racing Board, HSBC Holdings Plc., FBI Scotland Yard, Organised Crime, Tax Evasion Fraud, National Security, Weatherbys, HM Land Registry, Forged Signatures, Dummy Corporations, Ipswic Wed, 01 Aug 2012 01:13:07 -0400 http://www.liveleak.com/view?i=802_1343797915 MB-UK Argentina's war cemetery in the Falkland Islands has been vandalised and the glass protecting the country's sacred virgin at the site has been smashed. Just months after the 30th anniversary of the Falklands conflict, the glass case containing Argentina's patron saint, the Virgin of Luj'an, was found smashed up. Families of the Argentine war dead blamed British hostility for what they said was an "act of sacrilege" at the cemetery, which contains the remains of 237 men "The impacts on the glass appear to be caused by bullets," Cesar Trejo, who heads the commission of families of combatants who died during the conflict, said. "We believe that reflects escalating hostility by certain British sectors who are influential locally," said the commission's statement. "We will not let up until this repugnant act of sacrilege is clarified." The group sent letters to Hector Timerman, the Argentine foreign minister and John Freeman, Britain's ambassador in Buenos Aires, demanding an urgent and exhaustive investigation. Sebasti'an Socodo, who is responsible for the cemetery's upkeep, said families were notified of the attack on Tuesday, but that it was not clear when it occurred or who the perpetrators were. Police in the Falklands have already begun an investigation. Images of the damage show the glass was broken by more than a dozen sharp blows. The Virgin figure, whose blue and white garments are the only expression of Argentine pride permitted in the islands, has been removed to protect it from the elements until the shrine can be repaired. The cemetery, located on East Falkland, is enclosed by a wall and names the 649 Argentine soldiers who lost their lives during the 74-day conflict. Tensions between Britain and Argentina over the disputed archipelago rose in the build-up to the 30th anniversary of the conflict. Cristina Kirchner, the Argentine president, took her country's claim to the UN and accused Britain of "militarising the South Atlantic". Her government also sought to politicise the Olympic Games by broadcasting an advertisement that showed an Argentine hockey player training for the London Games in the Falklands, where he was filmed exercising on a British First World War memorial. The Government says it respects the islanders' right to self-determination and will not negotiate sovereignty. Last week, Argentina condemned missile exercises carried out by the British military close to the Falklands.---- Source: http://www.telegraph.co.uk/news/worldnews/southamerica/falklandislands/9441941/Argentine-war-cemetery-in-Falkland-Islands-vandalised.html http://www.liveleak.com/view?i=802_1343797915 MB-UK Argentine war cemetery in Falkland Islands vandalised argentina, war, cemetery, falklands, vandalised Thu, 19 Jan 2012 10:14:08 -0500 http://www.liveleak.com/view?i=0e0_1326981414 ElegantDecline Falkland Islands Oil Could Triple U.K. Reserves By Brian Swint - Jan 19, 2012 10:07 AM GMT Thirty years after Margaret Thatcher fought a 74-day war with Argentina over the Falkland Islands, the prospect of an oil boom is reviving tensions. Oil explorers are targeting 8.3 billion barrels in the waters around the islands this year, three times the U.K.'s reserves. Borders & Southern Petroleum Plc (BOR) will drill the Stebbing prospect next month, one of three Falkland wells that Morgan Stanley ranks among the world's top 15 offshore prospects this year. Meanwhile, Rockhopper Exploration Plc (RKH) is seeking $2 billion from a larger oil company to develop the Sea Lion field, the islands' first economically viable oil find. "The area is underexplored and highly prospective," said New York-based Morgan Stanley analyst Evan Calio. "These could be like the high-impact wells in Ghana and Brazil a few years ago that opened up a whole host of basins." A major drilling success will further raise the political temperature as Argentina maintains its claim over the U.K's South Atlantic territory, 300 miles (483 kilometers) from the Latin American coast. President Cristina Fernandez de Kirchner said Britain is taking her country's resources, while Thatcher's successor David Cameron yesterday accused Argentina of a "colonialist" attitude that didn't account for islanders' rights. Cameron has approved contingency plans to bolster U.K. troops on the islands, and Prince William , a search and rescue pilot and the second in line to the British throne, may spend six weeks there this year, the Times of London reported today. Not Negotiable "We want to have a full and productive relationship with Argentina," said Foreign Office spokeswoman Sophie Benger in an e-mailed response to questions. "Whilst the sovereignty of the Falklands is not up for negotiation, there is still much we can do together." The world's largest oil companies like Exxon Mobil Corp. and Royal Dutch Shell Plc face a dilemma: whether the potential of a virgin basin outweighs the risk of a worsening international dispute. While producers with interests in Argentina, such as BP Plc, may be put off, others will want to participate, said Tim Bushell, chief executive officer of Falkland Oil & Gas Ltd. (FOGL) , who's looking for drilling partners. "Big oil companies are used to dealing with political risks, and bigger ones than some saber rattling by Argentina," Bushell said in a telephone interview, declining to name the companies he's talking to. "For every BP, there are other major companies that don't have an interest in Argentina." The Falkland Island government, which manages the territory's mineral rights for the 2,955 islanders, says the big producers are interested and talking to the companies already active in the region. Of the five U.K.-based explorers that have drilled or plan wells, the largest, Rockhopper, has a market value of 899 million pounds ($1.4 billion). Patagonian Squid "The Falklands is at a stage where a big company can take a large share in what could be a big oil province," said Stephen Luxton, the Falkland Islands' director of mineral resources. "There is an active program of marketing by the companies here. There are discussions going on, though we can't name names." Falkland Oil & Gas plans to drill the Loligo prospect later this year, a well targeting 4.7 billion barrels of oil. Named after a Patagonian squid, it's the second-most prospective well planned worldwide this year after one in Namibia , according to Morgan Stanley. The company's Darwin prospect will follow and ranks sixth on the U.S. bank's list. Borders & Southern will start drilling the Darwin prospect by the end of January, which seismic surveys suggest may hold as much as 760 million barrels of oil and 3 trillion cubic feet of gas. Stebbing, the target of the company's second well, may hold as much as 1.2 billion barrels. New Province Together, the four wells planned for the Falklands this year are searching for about 8.3 billion barrels of oil. The Jubilee field, which was discovered in 2007, propelled Ghana into one of the world's top 50 oil states. Brazil's Lula field, drilled in 2006, holds an estimated 6.5 billion barrels of oil equivalent. "There could be significant volumes down there and it would open up a new hydrocarbon province," Borders & Southern CEO Howard Obee said in an interview. If the first two wells are successful, "we'd like to do a big drilling program, not only to appraise what we'd find but also drill up additional prospects. To do that, we'd need quite a bit of money." While the company will probably be able to sell more shares to determine the size of a discovery in this campaign, it may have to sell stakes in prospects to develop them, said Tracy Mackenzie, an analyst at broker Brewin Dolphin in Edinburgh. Borders & Southern holds a 100 percent interest in its fields. http://www.bloomberg.com/news/2012-01-19/britain-s-oil-grab-in-falkland-islands-seen-tripling-u-k-reserves-energy.html http://www.liveleak.com/view?i=0e0_1326981414 ElegantDecline Falkland Islands Oil Could Triple U.K. Reserves Oil, Britain, Argies