I followed the trail of Mark Carney’s money-laundering scheme

I followed the trail of Mark Carney’s money-laundering scheme

I’m writing to you from a tax haven called the Isle of Man. I’ve never seen any place quite like it. It’s a little island between Ireland and the UK, home to 85,000 people. And it’s famous for two things: its annual motorcycle race, and billionaires avoiding their taxes.

That’s why I’m here: because two and a half years ago Mark Carney set up a shell company to avoid paying taxes in Canada. The Isle of Man has very few taxes — no capitals gains tax, no inheritance tax, no wealth tax. Income tax is just 22%. Corporate taxes are 10% or less.

But the Isle of Man does something more important: it allows oligarchs from around the world to pay taxes on their global income to the Isle of Man. So they can operate around the world, but choose to pay a fraction of their real tax obligation in the Isle of Man.

And perhaps the most important feature of the Isle of Man’s tax scheme is the secrecy. Anyone can set up shell companies hiding the true ownership of any business. That’s why this place is full of Russian oligarchs, international drug dealers and semi-legal online casinos. They can hide their tracks.

BREAKING: I followed the trail of Mark Carney’s money-laundering scheme

I’m writing to you from a tax haven called the Isle of Man. I’ve never seen any place quite like it. It’s a little island between Ireland and the UK, home to 85,000 people. And it’s famous for two things:… pic.twitter.com/OGFx6bXKml

— Rebel News (@RebelNewsOnline)April 25, 2025