An investigation conducted by 150 media outlets coordinated by the Consortium of Investigative Journalists, leaked 11.9 million documents called "Pandora Papers", which revealed hidden businesses operating under a scheme called 'Offshore'.
How does the 'Offshore' scheme work?
An offshore business is one that constitutes a person or company outside the country where it carries out its economic activities. In the case of the 'Pandora Papers', the alleged companies are incorporated in tax havens, that is, in countries where minimal or sometimes zero taxes are paid; in addition, the company enjoys anonymity in the movements that are made.
With this system, a company can avoid paying the total amount of taxes established in its country while enjoying the secrecy in the management of these resources, since no information is shared with other countries. This is the case in Mexico of the Legionaries of Christ, where a network of trusts and subsidized companies operating from a tax haven was created.
The investigation refers to 3,047 Mexicans who moved their wealth to more than 20 places in the world through the creation of 1,241 companies, 72 foundations, 600 trusts, all managed by nine law firms.
Among the most prominent names are:
Armando Guadiana Tijerina, Morena senator from Coahuila and mining businessman.
Enrique Martínez y Martínez, former governor of Coahuila.
Francisco Labastida Gómez de la Torre, son of the PRI presidential candidate in 2000, Francisco Labastida.
Juan Armando Hinojosa Cantú, one of the most influential contractors in the six-year term of Enrique Peña Nieto.
Members of the current government are named, such as:
Jorge Arganis Díaz, secretary of communications and transportation.
Julia Abdala Lemus, businesswoman, and partner of the head of the CFE, Manuel Bartlett.
Julio Scherer Ibarra, former counselor of the presidency until recently; his tenure lasted from December 2018 to September of this year. Scherer Ibarra received since 2011, 50 thousand shares of a simulated company from one of his clients established in the British Virgin Islands and who controlled a company in Florida. However, the official made no mention of this offshore company in his asset declarations.
The investigation also points out 14 Mexican multimillionaires who have been on the Forbes list and who have some connection with the firms. Among them are members of the Salinas Pliego family, who bought properties and residences in the United States with a combined value of 36.9 million dollars.