WU appears in database of offshore banking statements

Washington University appeared in the “Paradise Papers,” a document containing millions of leaked financial documents regarding offshore investments of politicians, high profile officials and private institutions.

The papers are a leak of 13.4 million financial documents. The leaked documents were compiled by the International Consortium of Investigative Journalists into an online database; Washington University appears under two entries as ‘The Washington University’ and ‘Washington University.’

The University is one of more than a hundred other American universities that appear in the “Paradise Papers.” According to Washington University Investment Company’s Chief Investment Officer Scott Wilson, it is typical for non-profits to invest in offshore companies when trying to grow their assets.

“Nonprofits generally use offshore entities to invest in things they use as leverage like hedge funds and private entity vehicles,” Wilson said. “And the IRS has looked at this and blessed it as a strategy because those entities aren’t allowed

... read more at: http://www.studlife.com/news/2018/09/17/wu-appears-in-database-of-offshore-banking-statements/

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