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Thread: Panama Papers: the revelations so far

  1. #1
    Elite Member stef's Avatar
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    Default Panama Papers: the revelations so far

    Panama Papers: the revelations so far

    The unprecedented leak of 11.5m files is causing upheaval across the globe. Here is what has been revealed by the Guardian


    The Panama Papers: how to hide a billion dollars – video explainer

    Wednesday 6 April 2016 12.28 BST Last modified on Wednesday 6 April 2016 13.22 BST




    The leak of 11.5m files from the Panama-based law firm Mossack Fonseca continues to create upheaval around the world. The documents were leaked to the German daily Süddeutsche Zeitung, which shared them with the Washington-based International Consortium of Investigative Journalists, the Guardian, the BBC and other media organisations.



    The $2bn offshore trail that leads to Vladimir Putin

    The papers reveal a network of secret offshore deals and vast loans worth $2bn (£1.4bn) that lay a trail to Russia’s president, Vladimir Putin. Though his name does not appear in any of the records, the data shows how deals, that seemingly could not have been secured without his patronage, made members of his close circle fabulously wealthy.
    Read the full story here.

    Iceland’s PM faces calls for snap election after offshore revelations

    The financial affairs of Sigmundur Davíð Gunnlaugsson and his wife have come under scrutiny in the Panama Papers. They show he co-owned a company set up in 2007 in the British Virgin Islands, to hold investments with his wealthy partner, later wife, Anna Sigurlaug Pálsdóttir. Both stressed their financial interests had always been properly disclosed to the Icelandic tax authorities.
    Read the full story here.

    Iceland’s prime minister, Sigmundur Davíð Gunnlaugsson, has stepped aside since the revelations were made public. Photograph: Birgir Por Hardarson/EPA

    Ukraine’s leader set up secret offshore firm as battle raged with Russia


    Ukraine’s president, Petro Poroshenko, set up a secret offshore company in the British Virgin Islands at a time when his troops were being wiped out in a bloody battle with Russian troops and pro-Moscow rebels. Poroshenko – elected in May 2014 on a promise to clean up Ukraine’s chronically corrupt politics – registered the company in August 2014.
    Read the full story here.

    How law firm helped hide millions from the Brink’s-Mat robbery

    Laundered cash from Britain’s largest gold bullion robbery was hidden with the help of an audacious plan hatched with advice from Mossack Fonseca’s co-founder, Jürgen Mossack, the papers show. The law firm said the final owner of the company was never made known to Mossack and that the allegations related to Brink’s-Mat were entirely false.
    Read the full story here.

    Fund run by David Cameron’s father avoided paying UK tax

    David Cameron’s late father, Ian, ran an offshore fund, Blairmore Holdings Inc, that avoided ever having to pay tax in Britain by hiring a small army of Bahamas residents to sign its paperwork. The fund was founded in the early 1980s. It still exsits today, and has never paid a penny of tax in the UK on its profits. It has been registered with HM Revenue & Customs since its inception and has filed detailed tax returns every year.
    Read the full story here.

    Fifa president Gianni Infantino pulled into corruption scandal

    The Panama Papers reveal that the new president of world football, Gianni Infantino, has been caught up in the sport’s corruption scandal over deals that were concluded when he was director of legal services at Uefa, European football’s governing body. Uefa has denied any wrongdoing by any of its officials or any other marketing partner and Infantino says that he is “dismayed” that his “integrity is being doubted”. Uefa said Infantino was “an outstanding member of Uefa staff for many years” and “a man who has always acted with complete professionalism and integrity”.
    Read the full story here

    The leaked documents have raised questions over the role of the Fifa president, Gianni Infantino, in a TV rights deal. Photograph: Walter Bieri/EPA Pakistani PM’s children raised £7m against UK flats owned offshore

    When Pakistan’s prime minister, Nawaz Sharif, was in opposition, his children raised a £7m loan from Deutsche Bank against four flats in London’s Park Lane owned by offshore companies based in the British Virgin Islands. Sharif and members of his family have always denied any wrongdoing – it is not illegal to own property through an offshore company.
    Read the full story here

    The tycoons and world leaders who built secret property empires

    The Panama Papers show how billions of pounds of offshore cash flooded the British property market. World leaders, business people and celebrities are among those whose anonymous ownership of London property has been exposed by the massive leak of the Panama law firm’s data on offshore companies.
    Read the full story here.

    Mossack Fonseca worked with oil firms owned by Iran despite sanctions

    The law firm at the centre of the Panama Papers leak acted for an Iranian oil company that had been blacklisted by the US, the documents reveal. Mossack Fonseca realised it was working for Petropars Ltd in 2010 only when another client accidentally fell foul of the US sanctions that had been imposed on the energy firm. Mossack Fonseca said it “routinely” cut ties with clients when they were placed on sanctions lists.
    Read the full story here

    Alleged Mugabe cronies kept offshore firms years after UN alert raised

    An arms dealer and a mining tycoon who had sanctions imposed on them as alleged cronies of Zimbabwe’s president, Robert Mugabe, were able to continue running their business affairs through offshore companies for years after concerns were first raised about their dealings by the UN and other authorities. Mossack Fonseca eventually cut ties in January 2009 when European sanctions were imposed.
    Read the full story here

    How Mossack Fonseca worked with Australian clients linked to tax investigations

    The Panama–based law firm carried on doing business with Australians after they were linked to some of Australia’s most prominent tax avoidance cases.
    Read the full story here

    Samoan diplomat was used to help Mossack Fonseca create shell companies

    An officer at Samoa’s high commission in Australia routinely assisted Mossack Fonseca in creating shell companies, files from the firm reveal. One of those shell companies later faced sanctions for supplying goods to the Syrian government and military. The high commissioner said the office was “in no way involved” in the running of the companies.
    Read the full story here

    Response from Mossack Fonesca

    For 40 years Mossack Fonseca has operated beyond reproach in our home country and in other jurisdictions where we have operations. Our firm has never been accused or charged in connection with criminal wrongdoing.
    Read the law firm’s full response here


    Explainer

    What you need to know about the Panama Papers





    Panama Papers: the revelations so far | World news | The Guardian
    "This is not meant to be at all offensive: You suffer from diarrhea of the mouth but constipation of the brain." - McJag

  2. #2
    Elite Member witchcurlgirl's Avatar
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    I'm enthralled by this whole story.
    fgg likes this.



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    Elite Member sluce's Avatar
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    Me too. I can't wait to see the ultimate fallout.
    fgg likes this.
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    Elite Member OrangeSlice's Avatar
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    Popcorn is ready and extra buttery.
    sluce likes this.
    "Schadenfreude, hard to spell, easy to feel." ~VenusinFauxFurs

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    Glad they didn't find MY stuff - coulda been really embarrassing.
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