Massive "Panama Papers" leak released

[sonic]

The leak amounts to approximately 11.5 million documents—or 2.6 terabytes’ worth of data—on 214,000 shell companies spanning a period between the 1970s and 2016. It's estimated to be largest journalistic driven leak in history.
It will be interesting to see the level of fraud uncovered by these documents and who is involved.

The basics:
Panama Papers - Wikipedia, the free encyclopedia

Google "Panama Papers" to read more from your favorite source. Forbes, Market Watch, and all the major sites.

 

[waltky]

Australia launchin' an investigation...

Australia investigation on tax evasion
Mon, 04 Apr - The Australian tax regulator launches an investigation into more than 800 residents in relation to a Panamanian law firm.

The Australian Tax Office (ATO) is investigating more than 800 individual taxpayers, all residents of Australia. They have been identified as high net wealth clients of a law firm in Panama. The investigation follows a leak of 11m documents from the database of law firm Mossack Fonseca, revealing how wealthy and powerful people hide their wealth.

The ATO says in a statement it has managed to link more than 120 of the individuals to an "associate offshore service provider" located in Hong Kong. The tax body did not disclose the name of the company in Hong Kong.

The ATO is working closely with the Australian Federal Police, Australian Crime Commission and other agencies, and said some cases may be referred to the Serious Financial Crime Taskforce. "The message is clear - taxpayers can't rely on these secret arrangements being kept secret and we will act on any information that is provided to us," said ATO Deputy Commissioner Michael Cranston.

Panama Papers - tax havens of the rich and powerful exposed

 

[gtopa1]

Australia launchin' an investigation...

Australia investigation on tax evasion
Mon, 04 Apr - The Australian tax regulator launches an investigation into more than 800 residents in relation to a Panamanian law firm.

The Australian Tax Office (ATO) is investigating more than 800 individual taxpayers, all residents of Australia. They have been identified as high net wealth clients of a law firm in Panama. The investigation follows a leak of 11m documents from the database of law firm Mossack Fonseca, revealing how wealthy and powerful people hide their wealth.

The ATO says in a statement it has managed to link more than 120 of the individuals to an "associate offshore service provider" located in Hong Kong. The tax body did not disclose the name of the company in Hong Kong.

The ATO is working closely with the Australian Federal Police, Australian Crime Commission and other agencies, and said some cases may be referred to the Serious Financial Crime Taskforce. "The message is clear - taxpayers can't rely on these secret arrangements being kept secret and we will act on any information that is provided to us," said ATO Deputy Commissioner Michael Cranston.

Panama Papers - tax havens of the rich and powerful exposed

May be nothing to see of course. ATO was quick to state that there MAY be nothing illegal about any of it.

But I'm guessing there may be some. Still; may be an excuse for some more BLM riots. I suggest at the Offices of Mossack Fonseca in PANAMA!!!

Greg

 

[Political Junky]

Just hearing about it. This could expose a lot of the rich and famous.

Panama Papers leak: Data shows offshore accounts of rich and famous

 

[waltky]

Data hack leads to tax evasion probe...

Tax authorities begin probes into some people named in Panama Papers leak
Mon Apr 4, 2016 - Tax authorities in Australia and New Zealand are probing local clients of a Panama-based law firm at the center of a massive data leak for possible tax evasion.

The leak involves more than 11.5 million documents from the files of law firm Mossack Fonseca, based in the tax haven of Panama, revealing details of hundreds of thousands of clients in multiple jurisdictions. The documents are at the center of an investigation published on Sunday by the International Consortium of Investigative Journalists, the German newspaper Süddeutsche Zeitung and more than 100 other news organizations around the globe. Suddeutsche Zeitung reported it received the huge cache of documents and then shared them with the other media outlets.

A company list showing the Mossack Fonseca law firm is pictured on a sign at the Arango Orillac Building in Panama City​

The leaked "Panama Papers" cover a period over almost 40 years, from 1977 until as recently as last December, and allegedly show that some companies domiciled in tax havens were being used for suspected money laundering, arms and drug deals, and tax evasion. Britain´s Guardian newspaper said the documents showed a network of secret offshore deals and loans worth $2 billion led to close friends of Russian President Vladimir Putin. Reuters couldn't independently confirm those details.

The Australian Tax Office (ATO) said on Monday it is investigating more than 800 wealthy clients of Mossack Fonseca. "Currently we have identified over 800 individual taxpayers and we have now linked over 120 of them to an associate offshore service provider located in Hong Kong," the Australian tax office said in a statement emailed to Reuters. It did not name the Hong Kong company.

DATABASE "HACK"

See also:

Exclusive: U.N. audit identifies serious lapses linked to alleged bribery
Sun Apr 3, 2016 - The United Nations' internal investigations office has uncovered serious lapses and due-diligence failures in the world body's interaction with organizations tied to an alleged bribery scheme involving a former U.N. General Assembly president.

The 21-page confidential report by the U.N. Office of Internal Oversight Services' (OIOS), reviewed by Reuters, outlines the results of an audit ordered by Secretary-General Ban Ki-moon in response to charges against John Ashe, General Assembly president in 2013-2014, and six other people. The report gave the U.N. an overall grade of "partially satisfactory" in the March 22 report, which is available to U.N. member states on request. It noted "important deficiencies" in the way United Nations and its staff interacted with non-governmental organizations (NGOs) and oversees U.N. employees. It is the biggest financial corruption crisis to rock the United Nations since the Oil-for-Food scandal hit the world body during the tenure of Ban's predecessor Kofi Annan. U.N. officials and diplomats say latest scandal highlights the need for greater transparency at the United Nations.

OIOS recommended improvements in internal U.N. risk management and controls in light of the irregularities uncovered - a U.N. document improperly altered, travel expenses paid by NGOs against U.N. guidelines, U.N. employees keeping iPads given to them by an NGO headed by an indicted individual. OIOS urged Ban to ensure that any outside organizations the U.N. deals with are properly vetted. It also said that the U.N. should review any continuing relations with NGOs linked to the indictment. The audit came in response to an ongoing U.S. investigation that has since October resulted in charges against seven people including Ashe, a former U.N. ambassador from Antigua and Barbuda.

U.S. prosecutors say Ashe received $1.3 million in bribes from Chinese businessmen including Ng Lap Seng, a billionaire real estate developer who heads Macau-based Sun Kian Ip Group and was seeking to build a U.N.-sponsored conference center in Macau. Francis Lorenzo, a suspended deputy U.N. ambassador from the Dominican Republic who prosecutors said helped facilitate Ng's bribes and received bribes himself, pleaded guilty in March and agreed to cooperate with U.S. authorities.Sheri Yan, chief executive of Global Sustainability Foundation, a New York-based NGO, and Heidi Hong Piao, its finance director, accused of facilitating bribes to Ashe, pleaded guilty in January. Julia Vivi Wang has not yet entered a plea, and Ng's assistant Jeff Yin pleaded not guilty. Attorneys for those charged either did not respond or declined to comment when contacted by Reuters. A spokesman for the Manhattan U.S. attorney's office also declined to comment.

U.N. spokesman Stephane Dujarric said that while the Secretary-General was glad that the audit found many controls working properly, the flagged procedural lapses were a concern. "Instructions reinforcing the correct procedures with respect to document issuance have been issued to the Departments and Offices concerned," Dujarric said. "With regard to the specific cases referred to in the audit, action is being taken to determine responsibility and any measures, including possible disciplinary action, that may be deemed appropriate," he said, adding that the U.N. was committed to cooperating with the U.S. authorities.

ALTERED DOCUMENT AND FREE IPADS

 

[there4eyeM]

Radio here reports many heads of state are implicated, including China, Saudi Arabia and Russia, but no Americans.

 

[Blackrook]

There are no secrets any more. I'm not sure that's a good thing.

 

[Tommy Tainant]

Camerons dad, a few other high ranking Tories, several gangsters.
Icelandic Prime Minister.
It does look like a mate of Putins may be hiding money for him.
Some US TV money guru woman. Orsheka ?
She is knee deep in it.

I think there might be a lot more to come when they have trawled through it.

 

[AvgGuyIA]

Count on the Clintons and their Foundatation being named. This is right up their alley. Tax us and hide theirs.

 

[dani67]

Radio here reports many heads of state are implicated, including China, Saudi Arabia and Russia, but no Americans.

american have enough states in usa like Delaware State and they have swiss too .they dont need panama bank

 

[Manonthestreet]

Just hearing about it. This could expose a lot of the rich and famous.

Panama Papers leak: Data shows offshore accounts of rich and famous

No doubt politicians with their do as I say not as I do routine

 

[Political Junky]

Prosecutors open probes as world's wealthy deny 'Panama Papers' links

The "Panama Papers" revealed financial arrangements of politicians and public figures including friends of Russian President Vladimir Putin, relatives of the prime ministers of Britain, Iceland and Pakistan, and the president of Ukraine.

While holding money in offshore companies is not illegal, journalists who received the leaked documents said they could provide evidence of wealth hidden for tax evasion, money laundering, sanctions busting, drug deals or other crimes.

The law firm, Mossack Fonseca, which says it has set up more than 240,000 offshore companies for clients around the globe, denied any wrongdoing and called itself the victim of a campaign against privacy. Mossack Fonseca, in a statement posted on its website on Monday, said media reports had "misrepresented the nature of our work."

"We routinely resign from client engagements when ongoing due diligence and updates to sanctions lists reveal that a beneficial owner of a company for which we provide services is compromised," it said.

 

[Picaro]

Latest estimate of Putin's thievery and looting is now at $200 billion. That's exactly 5 times more than the previous best educated guess I read a year ago. Incredible how much he's stealing.

And, the U.S. and dozens of British protectorates are the primary money laundering states, not Switzerland, as most conventional wisdom presumes. Maybe Anonymous and the other hacker kidz could do something actually useful and informative for once and go after those banks and launderers?

 

[Picaro]

The law firm, Mossack Fonseca, which says it has set up more than 240,000 offshore companies for clients around the globe, denied any wrongdoing and called itself the victim of a campaign against privacy. Mossack Fonseca, in a statement posted on its website on Monday, said media reports had "misrepresented the nature of our work."

"We routinely resign from client engagements when ongoing due diligence and updates to sanctions lists reveal that a beneficial owner of a company for which we provide services is compromised," it said.

Just friggin hilarious.

Wonder how long it will be before bodies of these guys start turning up in the canal? People like Putin really hate loose ends.

 

[frigidweirdo]

There are no secrets any more. I'm not sure that's a good thing.

Yeah, we should be able to hide our illegal activity.

 

[frigidweirdo]

Camerons dad, a few other high ranking Tories, several gangsters.
Icelandic Prime Minister.
It does look like a mate of Putins may be hiding money for him.
Some US TV money guru woman. Orsheka ?
She is knee deep in it.

I think there might be a lot more to come when they have trawled through it.

Hardly surprising that the people who go into government to protect the rich, are being found out for doing dodgy stuff.

 

[Picaro]

Count on the Clintons and their Foundation being named. This is right up their alley. Tax us and hide theirs.

Speaking of the Clinton 'Foundation' it's third highest 'donations' come from Islamic dictatorships, in case anybody is wondering why Democrats will never utter a discouraging word about any of them. It's also important to be friendly with countries with no extradition treaties with the U.S. Just ask Halliburton about that.

 

[frigidweirdo]

Count on the Clintons and their Foundation being named. This is right up their alley. Tax us and hide theirs.

Speaking of the Clinton 'Foundation' it's third highest 'donations' come from Islamic dictatorships, in case anybody is wondering why Democrats will never utter a discouraging word about any of them. It's also important to be friendly with countries with no extradition treaties with the U.S. Just ask Halliburton about that.

Based on this assumption, Republicans wouldn't say anything against Muslims either.

Though they manage to be two faced, just like their Muslim friends.

The right accept oil rich Muslims, will let them fly through no fly zones (after 9/11 for example) but then will target Muslims as the new common enemy.

All the while the Saudis are being best pals the US while spending loads of money on people who are fighting the US.

 

[Political Junky]

It's not that Americans aren't involved, it's just that their names haven't been released yet.

 

[there4eyeM]

Delaware is nothing like Panama or other such 'fiscal havens'.