Swedish House Mafia named in Pandora Papers

[Teletubby 150,119]

Swedish House Mafia created an offshore company in the British Virgin Islands -- a well-known tax haven -- where it held the ownership to the band’s name, logo and music tracks, including hits like “Don’t You Worry Child,” according to a report Sunday from Swedish broadcaster SVT.

The band formed the entity, SHM Holdings Ltd., in 2009 -- the same year they released “Leave the World Behind” with Laidback Luke, which helped launch the group's success -- and kept it operating as late as 2017.

The entity’s three owners -- Axel Christofer Hedfors, known as Axwell; Sebastian Ingrosso; and Steve Josefsson, who goes by Steve Angello -- set up the entity through another offshore company on the island of Nevis, Marsham LLC, which in turn is controlled by a wealth adviser in Switzerland, SVT reported. Initially, the plan was to name the company Swedish House Mafia Ltd., but officials in the British Virgin Islands wrote that "mafia" was "not acceptable for use in a company name.

A spokesperson for Swedish House Mafia confirmed to SVT the existence of the entity but said in an email that the arrangement -- including the collaboration with the wealth adviser -- was terminated in 2013. The spokesperson added the company probably never withdrew any money.

source

[Blastertoyo 22,728]

Damn Avatar out here exposing everyone 

[River 117,362]

8 minutes ago, Blastertoyo said:

Damn Avatar out here exposing everyone 

ahm it's named after Pandora's Box, because it's exposing the horrible truth

[PunkTheFunk 124,471]

Up on a hill across the blue lake
That's where I had my first tax break