Eric Lipton and Julie Creswell, Panama Papers Show How Rich United States Clients Hid Millions Abroad. The New York Times, 5 June 2016. Financial transactions “for a stable of wealthy clients from the United States are outlined in extraordinary detail in the trove of internal Mossack Fonseca documents known as the Panama Papers. The materials were obtained by the German newspaper Süddeutsche Zeitung and the International Consortium of Investigative Journalists, and have now been shared with The New York Times. In recent weeks, the papers’ revelations about Mossack Fonseca’s international clientele have shaken the financial world. The Times’s examination of the files found that Mossack Fonseca also had at least 2,400 United States-based clients over the past decade, and set up at least 2,800 companies on their behalf in the British Virgin Islands, Panama, the Seychelles and other jurisdictions that specialize in helping hide wealth…. For many of its American clients, Mossack Fonseca offered a how-to guide of sorts on skirting or evading United States tax and financial disclosure laws.”
The Panama Papers: Giant Leak of Offshore Financial Records Exposes Global Array of Crime and Corruption
Bastian Obermayer, Gerard Ryle, Marina Walker Guevara, Michael Hudson, Jake Bernstein, Will Fitzgibbon, Mar Cabra, Martha M. Hamilton, Frederik Obermaier, Ryan Chittum, Emilia Diaz-Struck, Rigoberto Carvajal, Cécile Schilis-Gallego, Marcos Garcia Rey, Delphine Reuter, Matthew Caruana Galizia, Hamish Boland-Rudder, Miguel Fiandor and Mago Torres, Giant Leak of Offshore Financial Records Exposes Global Array of Crime and Corruption. The International Consortium of Investigative Journalists, 3 April 2016. “Millions of documents show heads of state, criminals and celebrities using secret hideaways in tax havens. In this story: Files reveal the offshore holdings of 140 politicians and public officials from around the world. Current and former world leaders in the data include the prime minister of Iceland, the president of Ukraine, and the king of Saudi Arabia. More than 214,000 offshore entities appear in the leak, connected to people in more than 200 countries and territories. Major banks have driven the creation of hard-to-trace companies in offshore havens.”