One of Hillary Clinton’s vital supporters – an Israeli billionaire named Haim Saban who has donated more than $15 million to her presidential campaign and the troubled Clinton Foundation – used a controversial Panamanian law firm to set up offshore companies and once admitted to a Senate panel he used phony investment losses to dodge hundreds of millions of dollars in taxes.
Egyptian born Saban is famously known for creating the children’s television franchise “Power Rangers,” and holds shares within Univision. He is one of the thousands of international movers and shakers whose names have surfaced in the Panama Papers.The lengthy treasure chest of documents, leaked to a journalism consortium, show how celebrities, politicians and the rich elite use offshore companies to avoid taxes.
Saban has donated $3.5 million to Hillary Clinton’s current campaign for president and more than $12 million to the Clinton Foundation, on which his wife Cheryl Saban serves as a board member. Hillary is promising voters she will “close corporate tax loopholes and make the most fortunate pay their fair share.” Those pledges contradict Saban’s tax avoidance practices, and yet Bill Clinton in 2010 claimed Saban “for nearly two decades, [has] been a good friend, a loyal supporter, and trusted advisor to Hillary and me.” This should make for one awkward dinner party if Hillary is following through on her promise…
Saban’s estimated net worth is $3.6 billion. The Saban Capital Group controls a dozen multimedia companies across the world. The Sabans donate to the Clinton Foundation through the Saban Family Foundation. It disburses regularly multimillion dollar grants to its organization favorites: the Clinton Foundation, the Brookings Institution, Friends of Israeli Defense Forces, and multiple lobbyists for Israeli interests in the U.S.
If you would like to receive Breaking News text alerts on a smartphone or tablet, download the DML APP which is completely FREE and easy to use. Go to the Google Play Store or the IOS App Store and search for DML APP. Be sure to keep the app’s notifications setting on. Another way to receive alerts is to text to 40404 the following message: follow @realdennislynch (be sure to put a space between the word follow and the @ symbol).
To see more stories like this, sign up below for Dennis Michael Lynch’s email newsletter.
Sign up to get breaking news alerts from Dennis Michael Lynch.