Panama Papers: Communist Cuban Officials Also Owned Offshore Firms

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This should surprise no one. Socialism is inherently crony.

Hugo “Sr. Bolivarian Revolution” Chavez has a daughter who somehow became a billionaire. According to an old Anthony Bordain episode I watched last night Daniel Ortega in Nicaragua is worth hundreds of millions of dollars. The Castros are sitting pretty. As was the now disgraced and deposed former president of Brazil Dilma Rouseff.

The state is a great way to steal. If one can throw some scraps to the deeply impoverished it’s that much easier. This is one of the most commonly used recipes for statism. From Detroit, to Cuba, to Brazil, to Argentina, to Ethiopia, to Venezuela, this is how socialist cronies often rise to and in some cases maintain their power.

Buy off the people in the street with trinkets. Loot the bourgeois wealth (if there is any to be had). Then consolidate.

(From The PanAm Post)

Further developments in the Panama Papers reveal that officials of the Communist Party of Cuba used a Swiss lawyer to set up offshore companies to assist with their global businesses.

Over 11 million documents leaked from the Mossack Fonseca law firm in Panama have revealed the offshore activities of heads of state, government officials, and celebrities around the world — and some of those figures happen to be from Cuba, where the law does not include any specific legislation on offshore activities.

Albert-Louis Dupont Willemin, a Swiss lawyer and broker for more than 20 offshore companies, was linked to Cuba businesses.

Click here for the article.