An Overview of the Panama Papers


Financial professional Lester Turnquest serves as deputy chairman of the Water and Sewage Corporation of the Bahamas. A managing director with Green Bay Group Ltd. in Nassau, Lester Turnquest hosted a live broadcast to explain the economic impact of the Panama Papers in 2016. 

Considered one of the most impactful information leaks in history, the Panama Papers shed light on questionable tax practices from politicians, business leaders, and other international figures. In April 2016, an anonymous source leaked 2.6 terabytes of data from the Panama law firm Mossack Fonseca to the German newspaper Suddeutsche Zeitung. Due to the sheer quantity of data, Suddeutsche Zeitung recruited hundreds of journalists to sort through the documents, a process that spanned several months.

Most of the information leaked in the Panama Papers involved the practice of creating shell companies to hide taxes from national governments. Several world leaders were implicated in the Panama Papers, including Ukrainian president Petro Poroshenko and Saudi Arabian King Salma. Although Russian premier Vladimir Putin was not named specifically in the leak, evidence strongly suggests that $2 billion in assets were tied directly to him. No Americans were named in the Panama Papers.

Popular posts from this blog

Fishing for Blue Marlin in the Bahamas

Image
A financial professional in Nassau, Bahamas, Lester Turnquest has worked for such entities as the Ministry of Finance, Cititrust, Ltd., and Clariden Leu. Currently serving as the managing director of Green Bay Group, Ltd., he coordinates all of the financial services company’s operational activities. In his free time, Lester Turnquest enjoys fishing. Fishers can find a wide range of species in Nassau and throughout the Bahamas, but the country’s national fish, the blue marlin, remains one of the most sought-after game fish.  Blue marlin favor the warmer temperatures found in the Caribbean and are particularly active in June and July. Anglers may be able to catch a blue marlin as early as April, which is the beginning of the country’s marlin season. However, white marlin are most commonly seen in April and May. While this species still puts up a huge fight when caught, white marlin are much smaller than blue marlin. On average, blue marlin weigh around 225 pounds, but they can grow t
Read more

Simple Ways to Improve Your Cooking Skills

Image
Holding a bachelor’s degree in economics from the Georgia Institute of Technology, Lester Turnquest of Nassau, Bahamas, has held such roles as accounts officer for Cititrust and vice president with Clariden Leu. Currently, he serves as the managing director of Green Bay Group, Ltd. Outside of work, Lester Turnquest enjoys cooking. Many beginning chefs want to improve their skills in the kitchen. Below are a few simple ways to help you improve your cooking ability: - Use your hands. You may have a kitchen stocked with the most sophisticated cooking tools around, but your hands are still one of the best ways to determine the status of a food. You can tell when meat is cooked by testing its firmness with your hand, or you can gently squeeze a fruit to tell whether it’s ripe or not. - Do not be afraid to use salt. Salt is one of the most basic seasonings used in cooking, yet you may not be adding enough of it. As you cook, you should salt nearly everything, including meat, pasta wat
Read more

Types of Fish Found Near Nassau, Bahamas

Image
Lester Turnquest serves as the managing director of The Green Bay Group Ltd. based in Nassau, Bahamas. Recreationally, Lester Turnquest takes advantage of living in Nassau by spending leisure time fishing in the area’s blue waters. A wide range of fish can be caught in the Bahamas at different times of year. A prized game fish is the Blue Marlin, which is also the national fish of the Bahamas. Female marlin can grow to be more than 1,000 pounds--four times the size of the largest males.  Two varieties of tuna exist in the waters around Nassau. The blackfin tuna grows up to 50 pounds and is more common in the summer. Bluefin tuna, which can weigh more than 50 pounds, are much harder to catch because they are fast swimmers. Bluefin tuna have historically been overfished. Individuals can also catch red snapper, a bottom feeder that congregates around wrecks and reefs. Most of these fish weigh less than 10 pounds, and individuals can only keep one per day in state waters and two per d
Read more