The biggest financial data leak in history has revealed how world leaders and rich people are using offshore tax havens to hide their wealth.
The Reports were spilled from one of the world’s most secretive companies, Panamanian law firm and show how the company has allegedly helped clients launder money, dodge sanctions and evade tax.
More than 200,000 companies, foundations and trusts are contained in the leak of information which came from a little-known but powerful law firm based in Panama.
The law firm, Mossack Fonseca, is one of the world’s top creators of shell companies, which can be legally used to hide the ownership of assets.
German newspaper Suddeutsche Zeitung obtained the files and shared with the International Consortium of Investigative Journalists (ICIJ ) but the identity of the source who leaked them and how it was done is unknown.
The data includes emails, contracts, bank records, property deeds, passport copies and other sensitive information dating from 1977 to as recently as December 2015.
An ICIJ analysis of the leaked files found that more than 500 banks, their subsidiaries and branches had worked with Mossack Fonseca since the early 1970s to help clients manage offshore companies.
The files indicate Mossack Fonseca worked with more than 14,000 banks, law firms, company incorporators and other middlemen to set up companies, foundations and trusts for customers.
The documents reveal that these offshore players often failed to follow legal requirements to ensure their clients were not involved in criminal enterprises, tax dodging or political corruption.
Mossack Fonseca says the middlemen are its true clients, not the eventual customers who use offshore companies. The firm also says that these middlemen provide additional layers of oversight for reviewing new customers.
Nirmala Panta rape, murder case : Locals protest after wrong suspect paraded
BHIMDUTTANAGAR — Locals who were protesting against the rape and murder of Nirmala Panta of Kanchanpur’s Bhimdatta Municipality, have enforced shutdown in Bhimduttanagar Bazaar on Tuesday, protesting police’s failure to reveal facts behind the murder of 13-year-old girl and parading wrong suspect on Monday.
The District Police Office, organising a press conference on Monday,had made public Dilip Singh Bista (41), of Baghphanta, Bhimdatta Municipality-19 as Nirmala’s murderer.
Locals have shut down the market area stating that police were not being able to make public the true murderer(s) as they are not convinced by the findings of police citing that Bista was mentally unsound, according to the District Police Office.
Transportation has also been halted.
Bista, a resident of Khanna Chauraha area in Bhimdutta Municipality-19, was apprehended near the scene of crime on Sunday, according to police.
Police making public the wrong suspect has infuriated the locals and fueled the protest.
The agitators including various civil society organisations and human rights defenders have been picketing the District Administration Office and staging rally on the street mounting pressure on the police to reveal the facts behind the heinous crime.
Meanwhile, it had been learnt that police have fired rounds of teargas shells to contain the agitated mob.
Nirmala was found murdered in a sugarcane field on July 27, a day after she had gone to her friend’s home to get a notebook.Follow @gorkhapost