| toomuchonline.org | |
| IMAGES OF INEQUALITY | |
Sand,
palms, breezes. None of these wonders are attracting the
world’s wealthy to the Cook Islands, tiny flyspecks halfway across the Pacific. What is?
The Cooks, says
the International Consortium of Investigative
Journalists, have become “a global pioneer in offshore asset- protection trusts,” devices that can shield the assets of the rich from nasty lawsuits back home.
Island officials had a Denver attorney write their nation's trust
law, and so far Americans have parked the most money in Cook Islands accounts. Among them: wealthy doctors convicted of Medicaid fraud and execs who've bilked employee pension funds. | |
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