Panama Papers Expose Latin America’s Networks of Financial Secrecy
LADB Article ID: 79973
By: Johanna Marris
The International Consortium of Investigative Journalists (ICIJ) will release on May 9 a full, interactive database consisting of 11.5 million documents from the Panamanian law firm Mossack Fonseca. The clients named in the database, who were exposed by media outlets across the world on April 3, have been the subject of a scandal that has revealed the extent of politicians’ involvement in the offshore financial industry. The anonymous leak to the ICIJ contains evidence of more than 214,000 offshore companies created by Mossack Fonseca for its clients since the firm was founded in Panama City in 1977. In the documents, 140 politicians from more than 50 countries are connected with offshore companies. The scandal has led to resignations of top ministers and the launch of investigations into many other public figures. In Latin America, the scandal has centered on the list of high-profile public figures named in the documents and the global spotlight on Panama as a tax haven. The highest ranking Latin American official named in the documents is Argentine President Mauricio Macri.
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