Offshore Corporation Companies Incorporate Mexican Drug Dealers

WEBWIRE – Thursday, March 19, 2009

An offshore corporation can be a haven for your assets, or a way to create a new tax friendly business, but a security breach has been detected where terrorists or drug dealers could create these offshore corporations with the help of legitimate companies in the U.S. “It’s a booming online business with little oversight, says one corporate law expert.

Companies Incorporated, http://www.companiesinc.com/ a California offshore incorporator since (1977) sells complete incorporation kits where legitimate businesses can acquire a new company with the click of a mouse and about $1500.00. These offshore incorporations are becoming popular now with Panama, Central America, and areas in the Caribbean being the most popular places to incorporate.

These companies which provide incorporation services are totally legal and provide a needed service, but “there screening policies have huge security holes in them.” “Any Al-Qaeda http://www.cnn.com/2005/US/10/07/pentagon.al.qaeda/index.html terrorist or Mexican drug dealer can go online and get a company and a bank account set up in Central America in just a few hours”, said business consultant Alex Machoe, it’s a good thing gone wrong.

The consultant said, “Each year there are thousands of these new offshore companies created in foreign countries, all created with little regulation. Machoe said, “A lot of this has tax evasion written all over it”, but the terrorist consideration brought to light the new recommendation that “all countries should overhaul the “offshore system” which makes it easy for dishonest people, including terrorist organizations to conduct business and to eventually attack America”. Machoe suggested holding these offshore incorporators responsible as terrorist collaborators when linked with an attack.

“There are several companies providing these secret online incorporations,” each offers introductions to offshore banks. Some people have reported being taken in several offshore scams where some offshore company offered offshore bank accounts, and offered to transfer funds around, in total secrecy. “The victims ended up losing millions”.

The banks offered by these offshore incorporators are not top rated banks, as a matter of fact they are less than desirable, says Machoe, but they do provide a clear easy way to funnel money offshore, or into the US or other countries.

"Offshore corporations provide business addresses, phone and fax service; everything a drug dealer or bad guy would need to launder his money or appear like a legitimate company, it has to be regulated, and it has to be done quickly, said Machoe. This series on regulating offshore corporations stopping up the holes to drugs and terrorist continues.

Staff writer – C. Thomas Headley http://www.stewwebb.com/CITI%20Group%20Al%20Qaeda%20Headquarters.htm