Panama Papers and Chess

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  • Panama Papers and Chess

    Panama Papers and Chess

    April 6, 2016

    (Wikipedia) - The Panama Papers are a leaked set of 11.5 million confidential documents that provide detailed information about more than 214,000 offshore companies listed by the Panamanian corporate service provider Mossack Fonseca, including the identities of shareholders and directors of the companies. The documents show how wealthy individuals, including public officials, hide their money from public scrutiny.

    (The Guardian) - There is nothing illegal about moving money offshore. To begin with, during the 1970s it was a way of moving cash around at a time of widespread currency controls across Europe.

    Buying and selling dollars, for instance, was much easier for banks if the trades were done offshore. If you lived in a country where a corrupt or predatory government might seize your assets, then moving your wealth offshore to protect it also made sense.

    http://www.theguardian.com/news/2016...dealings-stars
    ________

    (The New Yorker) - (Banking havens like Panama’s also exist in the Caribbean quasi-nation of Grand Cayman; on the island of Jersey and the Isle of Man; in the Pyrenean sub-nation of Andorra; and in several other aeries around the world. Perhaps the most famous, and possibly most lucrative, offshore bank of all is the nation of Switzerland.)

    http://www.newyorker.com/news/news-d...d-most-popular

    The Guardian article cited above and dated April 6, 2016, goes on to mention several wealthy and well-known individuals who have had dealings through companies provided by Mossack Fonseca, the law firm at the centre of the data leak. There is nothing to suggest that any of those named below sheltered, or sought to shelter, money or assets offshore to avoid tax or for any unlawful purpose.

    These include Simon Cowell, Stanley Kubrick, Sarah Ferguson, Jackie Chan and Bobby Fischer.

    “The American chess grandmaster was granted power of attorney over a company called Kettering Consultants Inc in October 2007. It gave him the ability to control the Panama-based company, which was managed by Landsbanki Luxembourg SA.”

    “In 1992, he played a $5m (£3.5m) rematch against Spassky in the former Yugoslavia. At the time, Yugoslavia was subject to sanctions, and Americans were barred from doing any business in the country. The US government warned Fischer that he could face a $250,000 fine and 10 years in prison. At a press conference in the run-up to the rematch, Fischer defiantly announced that he had not paid any taxes since 1976. He was indicted and never returned to the US.”

    (He died in Iceland) “in 2008, three months after being given power of attorney over Kettering Consultants. The company was “owned” by four bearer shareholders, which gave it an extra degree of secrecy. The company was shut down in 2012.”

  • #2
    Re: Panama Papers and Chess

    Panama Papers and Chess

    May 10, 2016

    From The Daily Telegraph

    http://www.telegraph.co.uk/news/2016...champion-anat/

    By Leon Watson
    10 MAY 2016

    The world of chess has been drawn into the Panama Papers scandal after two companies linked to its governing body and a legend of the game were named in the latest release.

    Anatoly Karpov, the legendary world champion who reigned from 1975 to 1985 when he was defeated by Garry Kasparov, was listed in the leaked files of secret offshore companies as a director of a Cyprus-based company called Indiforth Ltd.

    After retiring from the game, Karpov was elected a state deputy in Russia's parliament, the Duma, for Putin's party, United Russia, in 2011. He is also famous for being a keen philatelist with a stamp collection worth at least £10 million.

    There is no suggestion of illegality and Mr Karpov has previously said he had nothing to do with business in the offshore zone and called allegations he was a mistake.

    Two British Virgin Islands-based companies linked to the world chess federation FIDE, Chess News Agency and Chess Lane S.A., are also mentioned in the files.

    Meanwhile, Andrey Filatov, a billionaire oligarch and key ally of Russian president Vladimir Putin, has issued a denial after a name matching his was listed as a director and shareholder of Telecom Express Ltd, an offshore company with links to the British Virgin Islands.

    Mr Filatov is a vice president of FIDE, the World Chess Federation. In 2014 he was elected president Russian Chess Federation, when he replaced Arkady Dvorkovich, who held the position for four years.

    A spokeswoman told The Telegraph the name listed does not refer Mr Filatov and he has had no relationship with the company.

    Comment


    • #3
      Re: Panama Papers and Chess

      Panama Papers and Chess

      May 11, 2016

      Russian Chess Federation Official Statement

      Wednesday, May 11, 2016

      The Russian Chess Federation expresses its concern about publication in The Telegraph and a number of other media of misleading information about the activities of the President of the Russian Chess Federation.

      The aforementioned misleading information has been published in mass media with reference to the Mossack Fonseca archive, which in reality does not contain any information on the activities of the President of the Russian Chess Federation, or the companies he controls. While publishing the misleading information, representatives of the media in question have not taken any action to verify the published misleading information.

      The Russian Chess Federation has contacted an international law firm whose experts are currently reviewing the situation and considering legal action to hold disseminators of the misleading information liable.

      The Russian Chess Federation President Mr. Filatov intends to use all legal actions available to him to defend his rights, interests and business reputation. The Russian Chess Federation warns that any attempt at further dissemination of the above misleading information will have legal consequences.

      http://www.fide.com/component/conten...statement.html

      Comment


      • #4
        Re: Panama Papers and Chess

        Originally posted by Wayne Komer View Post
        The Russian Chess Federation expresses its concern about publication in The Telegraph ... of misleading information about the activities of the President of the Russian Chess Federation
        Search for Filatov at the Telegraph website returns 2 irrelevant results. Can you really confirm that the info was really published in Telegraph?
        http://www.telegraph.co.uk/search/?queryText=filatov

        Comment


        • #5
          Re: Panama Papers and Chess

          Panama Papers and Chess

          May 11, 2016

          You can search the database at:

          https://offshoreleaks.icij.org/#_ga=...692.1458078272

          I put in Filatov and got six results.

          I checked by using “Emma Watson”, the actress who played in the Harry Potter films and she was there as has been reported in the press.
          _____
          It appears that the reference to Filatov, which was at:

          http://www.telegraph.co.uk/news/2016...champion-anat/

          has now been removed without explanation or apology.

          Comment


          • #6
            Re: Panama Papers and Chess

            Originally posted by Wayne Komer View Post
            http://www.telegraph.co.uk/news/2016...champion-anat/

            has now been removed without explanation or apology.
            I looked at archive.org, and yes, the text was removed. (Though I was not expected anything as I thought archive.orff only release their captures after one year)

            Comment


            • #7
              Re: Panama Papers and Chess

              Panama Papers and Chess

              June 3, 2016

              Today in The Guardian there is a story by Luke Harding and Stephen Moss entitled “Chess body’s president linked to offshore firms that control lucrative rights to game”:

              https://www.theguardian.com/sport/20...an-ilyumzhinov

              Four paragraphs from the story:

              The president of world chess’s governing body is linked to a network of secret offshore companies that have obtained control of the lucrative commercial rights to the game since he took office, the Panama Papers cache of leaked documents reveal.

              An investigation by the Guardian and Germany’s Süddeutsche Zeitung found documents which raise fresh concerns about the administration of a sport which for years has been mired in claims of corruption.

              The Panama Papers shed fresh light on several murky companies set up to commercialise international chess. One of them was Global Chess BV. Ilyumzhinov established the firm in 2006 after he was re-elected Fide president. Its major owner, his defeated rival, Bessel Kok, had a minority stake.

              In 2007 Ilyumzhinov bought Kok out. A memo was drawn up and published granting Global Chess and Ilyumzhinov the commercial rights to all Fide events including World Championship chess tournaments and TV coverage.

              Comment


              • #8
                Re: Panama Papers and Chess

                Originally posted by Wayne Komer View Post
                Panama Papers and Chess

                June 3, 2016

                Today in The Guardian there is a story by Luke Harding and Stephen Moss entitled “Chess body’s president linked to offshore firms that control lucrative rights to game”:

                https://www.theguardian.com/sport/20...an-ilyumzhinov

                Four paragraphs from the story:

                The president of world chess’s governing body is linked to a network of secret offshore companies that have obtained control of the lucrative commercial rights to the game since he took office, the Panama Papers cache of leaked documents reveal.

                An investigation by the Guardian and Germany’s Süddeutsche Zeitung found documents which raise fresh concerns about the administration of a sport which for years has been mired in claims of corruption.

                The Panama Papers shed fresh light on several murky companies set up to commercialise international chess. One of them was Global Chess BV. Ilyumzhinov established the firm in 2006 after he was re-elected Fide president. Its major owner, his defeated rival, Bessel Kok, had a minority stake.

                In 2007 Ilyumzhinov bought Kok out. A memo was drawn up and published granting Global Chess and Ilyumzhinov the commercial rights to all Fide events including World Championship chess tournaments and TV coverage.
                This is the asshole that the CFC so proudly endorsed despite overwhelming information about what this person is about. Keep up the good work lads.
                Below is a link that is a follow up story by The Guardian that mentions national chess federations receiving mysterious payments ahead of the last election as well as Vladimir Putin's intense involvement.
                https://www.theguardian.com/sport/20...r-david-kaplan
                Last edited by Sid Belzberg; Saturday, 4th June, 2016, 09:45 PM.

                Comment


                • #9
                  Re: Panama Papers and Chess

                  $30,000 to Aruba - and only $20,000 to Canada! What a shame...

                  Comment


                  • #10
                    Re: Panama Papers and Chess

                    Also from Sid's link:

                    https://www.theguardian.com/sport/20...r-david-kaplan

                    Nigel Short, a prominent Kasparov supporter, has queried payments made to some national chess federations ahead of elections.
                    Yup indeed, keep up the good work lads.

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