Podcast Episode Details

Follow The Money: The Openlux Financial Investigation (3/5/25)

---

---

OpenLux is an investigative project that unveiled the extensive use of Luxembourg's financial system for tax avoidance and potential money laundering by global elites, corporations, and criminal entities. In February 2021, a consortium of journalists, led by the French newspaper Le Monde and including partners like the Organized Crime and Corruption Reporting Project (OCCRP), analyzed approximately three million documents from Luxembourg's public registers. Their findings revealed that Luxembourg, a nation half the size of Delaware, hosts around 55,000 offshore companies managing assets worth at least €6 trillion. Notably, over half of these companies failed to declare their beneficial owners, highlighting significant transparency issues within the European Union's financial regulations.

The investigation uncovered that approximately 80% of Luxembourg's private investment funds did not disclose their beneficiaries, raising concerns about the nation's vulnerability to money laundering activities. The leaked documents implicated various high-profile individuals and entities, including multinational corporations, celebrities, and political figures, in utilizing Luxembourg's financial structures for tax optimization and asset concealment. For instance, the investigation revealed that 29 out of 37 companies listed on France's CAC 40 stock index had subsidiaries in Luxembourg, with only 28% of these entities engaging in genuine economic activities. These revelations underscored the need for more robust anti-money laundering measures and greater financial transparency within the EU.


To contact me:


Bobbycapucci@protonmail.com







Source:



https://www.google.com/amp/s/promarket.org/2021/02/28/openlux-why-the-era-of-financial-secrecy-needs-to-end/%3famp

---

Published on 2 months, 1 week ago