Last year, four Chinese tycoons transferred more than $17 billion into family trusts with the ownership structures all involving entities in the Caribbean. Chinese individuals will account for about one-third of the total inflows for offshore financial centers over the next five years, according to an analysis by Boston Consulting Group.
This unceasing flow of cash hasn’t left Christensen dispirited. He was still pushing his cause with lawmakers, academics and nonprofit executives at the Tax Justice Network’s annual conference this month. Even though it led to exile from his homeland, he said he doesn’t regret calling out corruption.
“I knew that if I didn’t do that, I would regret it for the rest of my life,” he said. “Everything I stood for would’ve been shunted to one side if I hadn’t.”
--With assistance from Tom Metcalf.
This article was provided by Bloomberg News.