The documents were leaked anonymously to the German newspaper Süddeutsche Zeitung (SZ) . The files exposed a network of 214,000 tax havens involving wealthy people, public officials, and entities from 200 nations. The anonymous source who leaked the papers did so from Panama, hence the name Panama Papers.
WHO released the Panama papers?
John Doe is the pseudonym used by the whistleblower in the 2016 Panama Papers leak, who turned over 11.5 million documents from the law firm Mossack Fonseca to the newspaper Süddeutsche Zeitung.
What happened to the Panama papers investigation?
Mossack Fonseca announced its closure in 2018; over a billion dollars has been recovered and numerous countries have launched their own investigations into the scandal. Many of the individuals exposed of wrongdoing have been held to account and in many cases forced to resign from their various posts.
What was the result of the Panama papers?
Countries have recouped more than $1.36 billion in unpaid taxes, fines and penalties as a result of inquiries sparked by the Panama Papers, according to ICIJ's latest tally. ... Hundreds of tax probes against individuals and companies remain open, according to reporting gathered by ICIJ and its partners.
Are Mossack Fonseca in jail?
Ramón Fonseca Mora (born 14 July 1952) is a Panamanian novelist and lawyer, as well as the co-founder of Mossack Fonseca, a former law firm based in Panama with more than 40 offices worldwide. ... Fonseca and his partner Jürgen Mossack were arrested and jailed on 10 February 2017 .
What happened to Jurgen mossack?
Jürgen Rolf Dieter Mossack (born 20 March 1948) is a German-born Panamanian lawyer and the co-founder of Mossack Fonseca, a former law firm headquartered in Panama City which had more than 40 offices worldwide. In March 2018, the firm announced it was shutting down . ...
Is Panama a tax haven?
Panama. Panama has a territorial tax system – wherein the income earned within the country is taxed, but exempts income earned elsewhere. A firm based in Panama can have assets anywhere in the world.
Is the laundromat a true story?
Netflix's The Laundromat is Based on the True Story of One of the Biggest Financial Leaks in History . Here's what's true and what's fiction in Meryl Streep, Gary Oldman, and Antonio Banderas's Panama Papers movie.
Where can I see the Panama papers?
Watch The Panama Papers Streaming Online | Hulu (Free Trial)
How did Panama papers get leaked?
The Panama Papers were a massive leak of financial files from the database of Mossack Fonseca , the fourth-biggest offshore law firm in the world. The documents were leaked anonymously to the German newspaper Süddeutsche Zeitung (SZ).
Do shell companies still exist?
Shell corporations are legitimate, legal entities that do not possess actual assets or run business operations. They function as transactional vehicles for a variety of firms and for a myriad of purposes.
How do papers work in Panama?
More than 11 million documents from the secret files of Mossack Fonseca, a law firm headquartered in tax haven Panama, known for its factory-like production of offshore companies for its worldwide clientele of the well-heeled revealed a list of individuals who have paid the firm — and bought the benefits of the ...
How long was Fonseca in jail?
Mossack and Fonseca already face prosecution in Panama and are prohibited from leaving the country while out on bond after spending two months in jail.
What happened to Mossack Fonseca after the Panama papers?
Mossack remains under investigation by prosecutors in Cologne, Germany, as an accessory to tax evasion , according to a statement provided to Süddeutsche Zeitung. Panama's attorney-general's office told the newspaper that five criminal investigations related to Mossack Fonseca are ongoing.
Is the laundromat based on the Panama papers?
That includes Jake Bernstein, who authored Secrecy World: Inside the Panama Papers Investigation of Illicit Money Networks and the Global Elite, which became the basis of The Laundromat. The movie, directed by Steven Soderbergh, stars Meryl Streep as a widow searching for answers for swindled insurance money.
What does mossack Fonseca do?
Mossack Fonseca was a law firm based in Panama that employed about 600 people in more than 40 countries. Its practice areas included trust services, intellectual property, commercial law, international business structures, and investment advisory services.
