Panama Papers Scandal
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The papers show how Mossack Fonseca company has helped its clients launder money, dodge sanctions and evade tax. The company is a secretive Panamanian law firm which is used as a tax haven for some of the influential people who do not want to pay tax. Mossack Fonseca Company
Panama papers is the biggest leak in history, belittling the data released by the world's famous "Wikileaks Organization" in 2010, which held the spot of the biggest leak in history by then.
For me personally this is the biggest scandal in history of the world, the reason why I consider it the biggest in history is because in it more influential people are exposed, this people are not only from a certain country or a certain continent but from all around the world and from various industries of professional work, people whose names one could not expect to find in such scandalous papers of people who are either avoiding to pay tax or whom have more than enough money but are using the tax haven to hide or launder illegitimate money they make. This papers have been a real eye-opener for people who were idolizing some celebrities and political icons whom they thought were honest hardworking individuals.
Who is in the papers ?
The papers consists of 12 former and current heads of states, including dictators accused of looting their own countries. More than 60 relatives and associates of heads of states and other politicians and celebrities are also implicated in the leak .Panama Papers list of people
A suspected billion-dollar money laundering ring involving close associates of Russia's president Vladimir Putin.
Also mentioned are the brother-in-law of China's president Xi Jinping, Ukraine's president Petro Poroshenko, Argentina President Mauricio Macri, the late father of UK prime minister David Cameron, three of the four children of Pakistan's prime minister Nawaz Sharif and last but not least the nephew of a South African president. All the names mentioned in these papers are big and influential names, this fact leaves one asking unending questions such as whether or not the money of associates or relatives of these influential people theirs or of those who are influential, it is possible that these influential people used the names of their associates or their relatives just so that they could not be easily found out if this whole scandal backfires, but as it is known nothing stays hidden forever.
Although there are legitimate ways of using tax havens, most of what has been going on is about hiding the true owners of money, the origin of the money and avoiding paying tax on the money.
Some of the major allegations are around the creation of shell companies, that have the outward appearance of being legitimate businesses, but are just empty shells. They do nothing but manage money, while hiding who owns it.
A suspected billion-dollar money laundering ring involving close associates of Russia's president Vladimir Putin.
Also mentioned are the brother-in-law of China's president Xi Jinping, Ukraine's president Petro Poroshenko, Argentina President Mauricio Macri, the late father of UK prime minister David Cameron, three of the four children of Pakistan's prime minister Nawaz Sharif and last but not least the nephew of a South African president. All the names mentioned in these papers are big and influential names, this fact leaves one asking unending questions such as whether or not the money of associates or relatives of these influential people theirs or of those who are influential, it is possible that these influential people used the names of their associates or their relatives just so that they could not be easily found out if this whole scandal backfires, but as it is known nothing stays hidden forever.
Although there are legitimate ways of using tax havens, most of what has been going on is about hiding the true owners of money, the origin of the money and avoiding paying tax on the money.
Some of the major allegations are around the creation of shell companies, that have the outward appearance of being legitimate businesses, but are just empty shells. They do nothing but manage money, while hiding who owns it.
Who leaked the papers?
One might wonder who actually leaked these papers, the 11.5 million documents were obtained by the German newspaper Sueddeutsche Zeitung sueddeutsche Article and shared with the international consortium of investigative journalists (ICIJ), which then worked with journalists from 107 media organization in 76 countries to analyse the documents over a year.
This really proves beyond any reasonable doubt that the journalists indeed are the watchdogs of the society, if it weren't for them probably the general public would still be in the dark of this global corruption, Most people would still regard these corrupt people as honest hardworking people that they actually aren't! Even if some of them are really honest hardworking people their names being in the scandalous papers of all times have already ruined their reputation, a typical example of a person who lost credibility and probably some of the fans is Leonel Messi who's regarded as the best footballer in the world he has lost the tittle to his old time rival Cristiano Ronaldo whose reputation is still intact.
Even though this knowledge is new in the public domain this does not mean the scandal is also new it has been going on for quiet sometime now, according to the papers the information on the documents dates back to 1977, and goes up to December 2015. Emails make up the largest type of document leaked including images of contracts and passports of perpetrators.
