Source: Tech Insider
The Panama Papers is an unprecedented leak of more than 11.5 million files from the world’s fourth-biggest offshore law firm, Mossack Fonesca. They show how the company has helped clients launder money, dodge sanctions and evade taxes. The documents reveal how Vladimir Putin and his inner circle become incredibly wealthy.
Not only him, but twelve national leaders are among the 143 politicians who have been exploiting these offshore tax havens. The papers were leaked from an anonymous source who sent them to the German newspaper Süddeutsche Zeitung. They, in turn, gave it to the Consortium of Investigative Journalists (ICIJ) who gave them to the Guardian and the BBC.
More than 70 different reporters and 100 media organizations have been analyzing and verifying documents for the past year tieing all these politicians to the accounts.
1. Vladamir Putin
President of Russia
Put was caught using his friends, Yuri Kovalchuk, and Sergei Roldugin to create a crony bank, Bank Rossiya, which was behind billions of dollars in suspicious offshore transactions. Using Russian Commercial Bank of Cyprus and Sandalwood Continental Ltd, obtaining more than $1 billion in loans.
2. Sergei Roldugin
Source: The Guardian
Cellist and friend of Vladimir Putin
Sergei Roldugin didn’t do this just to benefit Vladimir. He accumulated a fortune of assets worth more than $100 million.
3. Jackie Chan
It is still unclear whether or not movie star Jackie Chan actually evaded taxes. But it has been revealed that he has at least six companies represented in the firm. These may be for legitimate business operations, but it’s still raising some eyebrows.
4. Yuri Kovalchuk
The head of Bank Rossiya
Accused of being a “personal banker” for many Russian government officials, including Putin. He helped transfer at least $1 billion to the offshore entity, Sandalwood Continental, obtained through unsecured loans from the Russian Commercial Bank as well as other state-controlled banks.
5. Lionel Messi
Source: The Guardian
Lionel Messi is currently the target of a tax evasion case in Spain, so the fact that he’s been named in the Panama Papers leaks is shady. He and his father owned a company in Panama called Mega Star Enterprises Inc. We are interested to see if there’s any criminal wrongdoing there.
6. Nawaz Sharif
Pakistan’s Prime Minister
Records show the Sharif family owned London real estate in prime locations and used those properties as collateral to obtain millions of dollars. When questioned, Nawaz Sharif’s son defended them saying on GeoTV, “Those apartments are ours, and those offshore companies are also ours… There is nothing wrong with it, and I have never concealed them.”
7. Ayad Allawi
Ex-Interim Prime Minister and former Vice-President of Iraq
Listed as the sole shareholder of his Panama-registered company I.M.F. Holdings Inc., he has obtained more than $1.5 million from his offshore company.
8. Petro Poroshenko
President of Ukraine
Poroshenko, a candy magnate who became president was under fire for been linked to the Panama Papers. The financial dealings revealed abuse of office and tax evasion. Poroshenko promised his voters that he would sell his company if he became President, but it turns out he set up an offshore holding company and moved his business to the British Virgin Islands to amass millions in what should have been for Ukrainian taxes.
“I believe I might be the first top office official in Ukraine who treats declaring of assets, paying taxes and conflict of interest issues profoundly and seriously, in full compliance with the Ukrainian and international private law,” he said. “Having become a President, I am not participating in management of my assets, having delegated this responsibility to the respective consulting and law firms. I expect that they will provide all necessary details to the Ukrainian and international media.”
9. Alaa Mubarak
Son of Egypt’s former President
Alaa Mubarak was implicated by his employees when an investigation at Mossak Fonseca started and was linked to him. The company employees admitted internally that they could be found “in further breaches,” and resigned from Pan World Investments Inc.
Alaa Mubarak has refused to respond to comment.
10. Sigmundur Davíð Gunnlaugsson
Source: Iceland Mag
Prime Minister of Iceland
The Prime Minister resigned on April 5th, 2016, after the Panama Papers were linked to him for not disclosing his offshore companies in the Caribbean tax haven. Despite these damaging reports Gunnlaugsson denies any wrongdoing.
11. Abdeslam Bouchouareb
Algerian Minister of Industry and Mines
Bouchouareb is the Minister of Industry in Algeria, but he is also the sole owner of Panamanian company Royal Arrival Corp. The Algerian government is already in a huge corruption case involving President Bouteflika; this new scandal is showing just how corrupt the government truly is.
12. Juan Pedro Damiani & Eugenio Figueredo
Source: The Guardian
FIFA Ethics Committee and Former Vice-President
FIFA is facing another crisis after more names revealed on the ethics committee, the people who were supposed to clean up FIFA’s act were implicated with the Panama Papers. The Uruguayan lawyer and former senior FIFA Vice-President, Eugenio Figueredo, have set up companies on offshore tax regimes.