He took over the island nation of Antigua with his offshore banking empire, Stanford Financial.
Most of the recent bounty of inflows in Brazil has its origin from offshore banking.
The revelations cover 30 years of offshore banking activity, involving more than 170 countries and territories.
BBC: Germany's Schaeuble welcomes data on global tax evasion
For American investors, offshore banking has recently turned from financial stratagem to risky proposition.
Offshore banking by telephone, for example, leaves less of a paper trail for the authorities.
This was a sea change in how offshore banking worldwide was done for generations.
FORBES: Suit Claiming "UBS Made me Cheat IRS" Laughed Out of Court
An obvious target for those leading the fight against terrorist financing is the world of offshore banking.
ECONOMIST: A worldwide attempt to stop finance for terrorists
This may seem overly intrusive, but offshore banking centers have been under increasing pressure to stop illegal activity.
Germany also was insistent that the Cypriot business model - as an offshore banking sector - was not sustainable.
In the case of the FBAR matter, it was the blow up of UBS and other offshore banking institutions.
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In offshore banking, there are often considerable additional requirements to open the account to which you may not be accustomed.
All mainstream offshore banking centres have committed themselves to the OECD rules, as have exotic upstarts such as Liberia and Brunei.
Cyprus is an offshore banking haven, which makes it somewhat unique in that it holds billions in foreign deposits, mostly Russian.
These requirements are in place to discourage money laundering, tax fraud or other illegal activities that are often associated with offshore banking.
Cyprus and offshore banking were made for one another, Mr. Papadopoulos says.
The German finance minister has praised a media investigation exposing secret offshore banking, saying he wants more joint EU action against tax evasion.
BBC: Germany's Schaeuble welcomes data on global tax evasion
In the case of Thailand, the opening of an offshore banking center for foreign banks, intended to increase capital inflow, proved far too successful.
Colonial towns, beach resorts and a year-round mild climate have contributed to a growing tourist industry, and the economy has benefited from offshore banking.
The offshore banking industry was upended by the IRS investigation of UBS. UBS admitted it helped tens of thousands of Americans evade U.S. taxes.
FORBES: Suit Claiming "UBS Made me Cheat IRS" Laughed Out of Court
Fifth Amendment says you cannot be forced to incriminate yourself, the courts are considering whether offshore banking records fall within the required records exception.
FORBES: FATCA Cliff: Tax Evasion Guilty Plea And Death For Oldest Swiss Bank
The landscape of tax avoidance and bank secrecy in offshore tax havens changed due to individuals who blew the whistle on private offshore banking practices.
FORBES: Keep Heat On IRS Commissioner Shulman; whistleblowers needed to uncover offshore tax abuses
An economy whose main industry, offshore banking, is being shut.
In conclusion, this recent Ninth Circuit decision should give pause to individuals planning to use the Fifth Amendment protections to oppose government subpoenas of records of offshore banking activity.
Selwyn Gerber, a managing partner with offshore banking firm PrimeGlobal USA, said his company considers the Internet so insecure that it won't use it at all to transmit sensitive customer data.
Offshore banking centres will be subject to special scrutiny.
ECONOMIST: A worldwide attempt to stop finance for terrorists
Many US banks have so-called offshore banking operations, operated in countries like the Bahamas where regulations are not as strict as in the US. The banks in turn can then offer better rates of return or lower taxes.
In the long term as well, prospects for this economy will be extremely challenging: the country's important offshore banking industry, the business of looking after the tax-escaping cash of Russian businesses and individuals, is in effect being closed down forever.
The attorney handling the claim, Garth Goldberg of Florence Rostami Law LLC , claims in a recent filing that Amiworld and Messrs Saito and Takahito continue to defraud investors across the globe, using the offshore banking of Bank of the Atlantic.
FORBES: Amiworld, A Civil Suit Alleges It Is A Global Fraud Enterprise
Two traditional Swiss strengths offshore private banking and managing the money of wealthy old families are in relative decline.
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