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"Unprecedented leak" exposes the criminal financial dealings of some of the world's wealthiest people

OWON: Not good for two-faced Leaders is it?

This will shake a few trees and no doubt as people become aware of this, confidence in established government will continue to wane. Thanks to the efforts of a 100 + news organizations, perhaps the 4th estate can still shed light and act as a check on a system out of control.




"Unprecedented leak" exposes the criminal financial dealings of some of the world's wealthiest people


Zero Hedge
By Tyler Durden
3 April 2016

An unprecedented leak of more than 11 million documents, called the "Panama Papers", has revealed the hidden financial dealings of some of the world's wealthiest people, as well as 12 current and former world leaders and 128 more politicians and public officials around the world.

More than 200,000 companies, foundations and trusts are contained in the leak of information which came from a little-known but powerful law firm based in Panama called Mossack Fonseca, whose files include the offshore holdings of drug dealers, Mafia members, corrupt politicians and tax evaders – and wrongdoing galore.

The law firm is one of the world's top creators of shell companies, which can be legally used to hide the ownership of assets. The data includes emails, contracts, bank records, property deeds, passport copies and other sensitive information dating from 1977 to as recently as December 2015.




It allows a never-before-seen view inside the offshore world — providing a day-to-day, decade-by-decade look at how dark money flows through the global financial system, breeding crime and stripping national treasuries of tax revenues.

Here is the brief summary of how these documents have been revealed, via the Sueddeutsche Zeitung:

Over a year ago, an anonymous source contacted the Süddeutsche Zeitung (SZ) and submitted encrypted internal documents from Mossack Fonseca, a Panamanian law firm that sells anonymous offshore companies around the world. These shell firms enable their owners to cover up their business dealings, no matter how shady.

In the months that followed, the number of documents continued to grow far beyond the original leak. Ultimately, SZ acquired about 2.6 terabytes of data, making the leak the biggest that journalists had ever worked with. The source wanted neither financial compensation nor anything else in return, apart from a few security measures.

The data provides rare insights into a world that can only exist in the shadows. It proves how a global industry led by major banks, legal firms, and asset management companies secretly manages the estates of the world’s rich and famous: from politicians, Fifa officials, fraudsters and drug smugglers, to celebrities and professional athletes.

A quick snapshot of the scale of the leak in context:



Mossack Fonseca’s fingers are in Africa’s diamond trade, the international art market and other businesses that thrive on secrecy. The firm has serviced enough Middle East royalty to fill a palace. It’s helped two kings, Mohammed VI of Morocco and King Salman of Saudi Arabia, take to the sea on luxury yachts.

An interactive summary of some of the most prominent individuals named:



read more


1 comment :

  1. It's rather obvious a plethora of names were omitted from this report!

    From jimstone.is: PanamaPapers

    First of all, I have concluded the Panama papers were all about taking out BRICS and world leaders opposing the New World Order. They will burn a few they want to get rid of in the West, for plausible deniability.

    ReplyDelete

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