Monday, January 14, 2013
Bribery Act drives arms industry offshore
Companies making use of offshore secrecy include firm that supplied surveillance software used by repressive regimes.
A number of so-called nominee directors of companies registered in the
British Virgin Islands
(BVI) have connections to military or intelligence activities, an investigation has revealed.
In the past, the British arms giant BAE was the most notorious user of offshore secrecy. The
in 2003 revealed
the firm had set up a pair of covert BVI entities
The undeclared subsidiaries were used to distribute hundreds of millions of pounds in secret payments to get overseas arms contracts.
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