California Inc.: A sale for the record books

Tropical heat: The average American may know the British Virgin Islands as a tourist destination, but it’s also a leading offshore tax haven. That’s about to change, now that the Panama Papers led to a U.K. crackdown on the Caribbean archipelago: “The disclosures sparked probes worldwide into money laundering, sanctions violations, and tax avoidance, and it didn’t pass without notice that more than half the companies outed in the leak were registered in the BVI,” writes Bloomberg Businessweek.

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