2016-04-07

Panama Papers: Victims of Offshore; What We Know So Far (videos)

Panama Papers: Victims of Offshore

The Panama Papers is a global investigation into the sprawling, secretive industry of offshore that the world's rich and powerful use to hide assets and skirt rules by setting up front companies in far-flung jurisdictions. Based on a trove of more than 11 million leaked files, the investigation exposes a cast of characters who use offshore companies to facilitate bribery, arms deals, tax evasion, financial fraud and drug trafficking. Behind the email chains, invoices and documents that make up the Panama Papers are often unseen victims of wrongdoing enabled by this shadowy industry. This is their story (published on Apr 3, 2016 by icij.org). Executive Producer: Hamish Boland-Rudder; Director/Producer/Audio Editor: Carrie Ching; Animation Artist: Arthur Jones; Reporter:  Will Fitzgibbon; Narrator: Eleanor Bell Fox. Supported by the Pulitzer Center on Crisis Reporting, For more, go to panamapapers.icij.org


What We Know So Far from the Panama Papers - Who's involved? 300,000 offshore shell companies, banks all over the world, even FIFA--Bloomberg's David Kocieniewski updates the latest news on the "Panama Papers" leaked files--published April 4, 2016, on "Bloomberg Markets."

Panama Papers: How much more will be revealed?
• Leaked Files Offer Many Clues To Offshore Dealings by Top Chinese | ICIJ
• Panama Papers reveal offshore secrets of China’s red nobility | News | The Guardian
• Global Banks Team with Law Firms To Help the Wealthy Hide Assets · ICIJ: Major global banks such as UBS (Switzerland), HSBC (UK), Société Générale (France), Commerzbank (Germany), Credit Suisse (Switzerland), Royal Bank of Canada (Canada), work hand-in-glove with other players to help the superrich, politicians and criminals keep their assets under wraps--more than 500 banks, their subsidiaries and branches registered nearly 15,600 shell companies with Mossack Fonseca.
Where are all the Americans in the Panama Papers? | Fusion
• Forget Panama: it's easier to hide your money in the US than almost anywhere |The Guardian

#PanamaPapers Tweets and Tweets by @ICIJorg:

Response of Mossack Fonseca: "... Our firm, like many firms, provides worldwide registered agent services for our professional clients (e.g., lawyers, banks, and trusts) who are intermediaries. As a registered agent we merely help incorporate companies, and before we agree to work with a client in any way, we conduct a thorough due-diligence process, one that in every case meets and quite often exceeds all relevant local rules, regulations and standards to which we and others are bound. However, filing legal paperwork to help incorporate a company is a very different thing from establishing a business link with or directing in any way the companies so formed. We only incorporate companies, which just about everyone acknowledges is important, and something that’s critical in ensuring the global economy functions efficiently. In providing those services, we follow both the letter and spirit of the law. Because we do, we have not once in nearly 40 years of operation been charged with criminal wrongdoing ..."

Mossack Fonseca Statement Regarding Recent Media Coverage (PDF):


See also: Mossack Fonseca on Twitter @Mossfon

Domain names:
The International Consortium of Investigative Journalists (ICIJ): icij.org
Mossack Fonseca: mossfon.com




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