On Sunday, more than 100 news institutions from all over the world dig in into an investigation about a massive leak of information regarding a study by Mossack Fonseca which is a Panamanian law firm which deals with establishing shell corporations. The organisation revealed where does the ultra wealthy people of the world hide their money which also includes major world leaders.
There are around 11 million files that were leaked through the network. The leaked data revealed that how more than 214000 companies in the world are connected to around 200 countries. Basically, the leak has revealed that how these rich people of the various countries hide their ‘extra’ money in the shell corporations. This money was safely hidden in over 21 tax havens.
If you have been unaware of it so far, let us tell you the 5 most important things that you must know about the Panama Papers.
- There are more than 11.5 million secret files including passports, financial spreadsheets, emails and corporate records etc which have been leaked.
- The major politicians whose names have been leaked include the UAE President, Ex Prime Minister of Iraq, Iceland’s Prime Minister, Argentina’s President, President of Ukraine, King of Saudi Arabia etc.
- Apart from politicians, head of state, film stars, lawyers, high profile executives, FIFA officials, real estate developers, football players, other ministers etc have also been flashed on Panama Papers.
- Not just these wealthiest people but also their family members have been listed out on the Panama Papers including the daughter of former Chinese Premier, Cousin of Syrian President, Friends of Russian Presidents and Children of Pakistan’s Prime Minister Nawaz Sharif.
- The most peculiar thing to note here is that more than 500 Indians have been named in Panama Papers which includes the legendary Amitabh Bachchan, DLF’s KP Singh, Solicitor General of India Harish Salve and former Miss World Aishwarya Ray Bachchan, Samir Gehlaut (India-bulls owner) among many others.
The following video from the Guardian very clearly shows how Mossack Fonseca enabled Vladimir Putin to conceal a billion dollars. Let us tell you he is largely the most powerful person concerned in the leak.