‘Paradise Papers’ provide peek into Colombian elite’s cronyism

A huge new set of secret banking documents linking world leaders with tax havens was made public Sunday. Included is an intriguing example of the extreme cronyism saturating Colombia’s economic and political elites.

In the Colombian example contained in the new documents, a handful of the country’s former and future political leaders—including current President Juan Manuel Santos—concocted a business deal in the late 1990s to disguise the ownership of a Colombian company in a haze of Barbados-based shell firms.

Source: Colombia Reports