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My 65 year old mother has lost almost all of her retirement savings to either con artists or get rich schemes. She has 13k left, 5k of which I recently sent her from my paltry earnings. She promptly deposited this money is some type of offshore account in the Bahamas. She is planning to funnel all her remaining "corporation earnings" from her self employment into this account as a tax shelter. Some of her friends have hundreds of thousands in this Bank of the Bahamas and use it to avoid paying taxes. She believes this is safe and she only pays taxes on the money her own registered "corporation" pays her from this offshore account. Are these offshore banks for real, or only is it just another scheme to drive the unsuspecting into a pennyless old age?

Thanks for any information you can give.


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