LOS ANGELES—A Fashion District clothing company owner was sentenced Dec. 6 to a year in federal prison for scheming to undervalue imported garments and avoid paying millions of dollars in duties and taxes to the United States. Ambiance Apparel owner Sang Bum “Ed” Noh agreed to forfeit $81.5 million as part of his plea deal, according to the U.S….

Commentary “The rich put cream on their berries; the rich drive shiny black cars.”—(from the Broadway musical “Carnival!”) The Pandora Papers, “an exposé of the financial secrets and offshore dealings of dozens of heads of state, public officials and politicians,” writes CNN, could not have come at a better time for congressional “progressives” who are…

LONDON—Transparency advocates are calling on Britain to tighten the country’s defenses against money laundering and tax avoidance after a massive leak of financial data showed how London is a key destination of choice for some of the world’s richest and most powerful people to conceal their cash. The cache of almost 12 million files shows…

LONDON—Luxembourg’s investment fund industry is a financial “black box” that helps people launder illicit money and avoid tax, according to an investigation published on Monday whose findings were rejected by the EU nation. The OpenLux investigation by journalists from a group of media organizations, including Le Monde, Le Soir, the Miami Herald, and Sueddeutsche Zeitung,…