Revelations of Panama Papers Have Only Just Begun

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By Ann Tyller | April 5, 2016 11:25 pm

The documents, known as the Panama Papers, named international politicians, business leaders and celebrities raised questions about corruption in the global financial system.

Many of the figures named in the leak have denied in the strongest terms that they had broken any laws

The leak of millions of private financial documents linking scores of the world’s rich and powerful to a secretive Panamanian law firm peddling in shell companies and offshore bank accounts began more than a year ago with a cryptic message to a German newspaper from an anonymous whistle-blower.

Rodugin, Putin, Medvedev of Russia

Rodugin, Putin, Medvedev of Russia

The investigation become pretty serious when 2015 the International Consortium of Investigative Journalists in Washington, D.C., which has coordinated several previous global projects on financial data leaks become involved. The ICIJ had assembled an army of about 400 journalists from more than 100 news organizations in 80 countries, including The Guardian and BBC in Britain, the French daily Le Monde, the Sonntagszeitung in Switzerland, and L’Espresso, an Italian weekly newsmagazine.

The result of The ICIJ deeds as of Tuesday, April 5, 2016:

  • The prime minister of Iceland, Sigmundur David Gunnlaugsson, stepped aside on Tuesday.
  • Gonzalo Delaveau Swett, the president of Transparency Chile, a branch of a global anti-corruption group, stepped down on Monday.
  • President Mauricio Macri of Argentina; President Petro O. Poroshenko of Ukraine; Mr. Gunnlaugsson, then the prime minister of Iceland; Prime Minister Nawaz Sharif of Pakistan; King Salman of Saudi Arabia; the former emir of Qatar, Hamad bin Khalifa al-Thani, and its former prime minister, Hamad bin Jassim bin Jaber al-Thani; and the Argentine soccer star Lionel Messi, he cellist Sergei Roldugin, a close friend of President Vladimir V. Putin of Russia are denying their connection to this scandal.
  • On Tuesday, April 5, 2016, the president of FIFA, Gianni Infantino was linked to the scandal.
  • The documents indicated that 3,500 people who owned shares in offshore companies provided the Panamanian law firm with an address in the United States
  • Several countries began investigations into the leaked data on Monday, including the United States, France, Germany, Australia, Austria, Sweden and the Netherlands.
  • The documents indicated that 3,500 people who owned shares in offshore companies provided the Panamanian law firm with an address in the United States

It is not clear if the Panama Papers show evidence of any crimes as of now.

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