>> there is no implicit statement here by what somebody is doing by sending their money offshore is necessarily illegal, is that correct? >> that's correct. that's one of the biggest things our investigation raises is that much of what happens offshore, much of the shifting of profits and income to these tax havens is perfectly legal. there are, of course, a lot of compliance issues offshore. these are jurisdictions that in addition to providing, you know, appleby's wealthy clients low or no taxes, also another big important aspect of this is that they -- tax havens like the cayman islands, british islands and the founding island of bermuda are also known as secrecy jurisdictions which provide clients a deep degree of privacy. >> they're liable for lawsuits or people will try to come after them and they want to keep their money safe. appleby has given a statement
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