Financial dealings of rich, famous revealed

Financial dealings of rich, famous revealed

0

Berlin — An international coalition of media outlets on Sunday published what it said was an extensive investigation into the offshore financial dealings of the rich and famous, based on a vast trove of documents provided by an anonymous source.
The International Consortium of Investigative Journalism, a nonprofit organization based in Washington, said the cache of 11.5 million records detailed the offshore holdings of a dozen current and former world leaders, as well as businessmen, criminals, celebrities and sports stars.
The German newspaper Sueddeutsche Zeitung, which first received the data more than a year ago, said it was confident the material was genuine.
The Munich-based daily was offered the data through an encrypted channel by an anonymous source who requested no monetary compensation and asked only for unspecified security measures, said Bastian Obermayer, a reporter for the paper.
The data concerned internal documents from a Panama-based law firm, Mossack Fonseca. Founded by German-born Juergen Mossack, the firm has offices across the globe and is among the world’s biggest creators of shell companies, the newspaper said.
Ramon Fonseca, a co-founder of Mossack Fonseca, said the firm had no control of how its clients might use offshore vehicles created for them.
“We are not responsible for the actions of a corporation that we set up,” he told Panama’s Channel 2.
Panamanian President Juan Carlos Varela issued a statement saying his government would cooperate “vigorously” with any judicial investigation arising from the leak of the law firm’s documents. He said that the revelations shouldn’t detract from his government’s “zero tolerance” for any illicit activities in Panama’s finance industry.
ICIJ said the law firm’s leaked internal files contain information on 214,488 offshore entities connected to people in more than 200 countries and territories. It said it would release the full list of companies and people linked to them early next month.

Share.
Loading...

Comments are closed.