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Nevada’s Big Bet

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By Brian Grow

What happens in Nevada, stays in Nevada. Literally. Especially when it comes to Nevada shell companies.

That’s the gist of our latest special report in the SHELL GAMES series, “Nevada’s big bet on secrecy.”

The story takes a close look at how changes to Nevada’s incorporation laws a decade ago have made it a haven for U.S. shell companies, as well as a hub for current executives of mass-incorporators who previously went to prison, in large part for using Nevada shell companies for illegal activities.

The state’s liberal incorporation laws – which allow for nominee officers and directors and a higher degree of liability protection than any other state – are a magnet for questionable corporate behavior, it appears.

The shell games continue

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Laurence Fletcher and a team of reporters from Canberra to the small town of Apache Junction in Arizona have a special report today that is the latest in our series “Shell Games,” exploring the extent and impact of corporate secrecy in the United States and beyond.

The bonds that turned to dust” tracks the fate of $500 million of highly illiquid paper purportedly issued by a company in a trailer-park suburb of Phoenix, on behalf of a small Australian commodities firm — and backed by the proceeds from $10 billion of diesel from the tiny autonomous Russian republic of Bashkortostan.