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The Panama Papers

post #1 of 66
Thread Starter 

Current Release by the German paper that broke the story  (ICIJ/Süddeutsche Zeitung)



2.6 TB of data.


"A huge leak of confidential documents has revealed how the rich and powerful use tax havens to hide their wealth. Eleven million documents were leaked from one of the world's most secretive companies, Panamanian law firm Mossack Fonseca."



US names to be released shortly.

post #2 of 66
Thread Starter 
Originally Posted by Bussit View Post

Anyone hear about the Panama Papers yet?




This is going to be quite interesting.


Originally Posted by MGoCrimson View Post

Apparently lots of US specific news of the same coming soon
post #3 of 66
Thread Starter 

Interestingly enough, no mention by US outlets - CNN/Fox etc.

post #4 of 66
Tax haven isn't anything new and honestly I'm not surprised at all. There's been numerous cases about Switzerland, Luxembourg, Lichtenstein doing the exact same thing. The swiss banks even made an agreement a couple years back to leak info to european governments.

The only interesting part about this is Putin, that guy has always claimed to only make a couple hundred grand a year, even though it's a public secret he has billions.
post #5 of 66
Thread Starter 

Its nothing new, but to have the names out in the open is nice. Also - several of the people/companies listed are mafia run/drug money - so it might be more possible to track now.


Proof of tax evasion (they're supplying the actual photocopied documents with these reports) will be pretty hard to refute, some politicians are going to be sweating.

Edited by venividivicibj - 4/3/16 at 11:36pm
post #6 of 66
There is a doc about HSBC laundering hundreds of billions in cartel money.
post #7 of 66
Thread Starter 

Thats the asian branch HSBC right? I heard that

post #8 of 66
NYC laundering cash deposits via a Mexican sub branch.
post #9 of 66
post #10 of 66
Thread Starter 

Le Monde says that the papers may never be released due to privacy issues (pesonal e-mial adress, passports, heath privacy info, etc)

post #11 of 66
Did we get any US names yet?
post #12 of 66
Thread Starter 
That's a negative. (Though we might not if no US companies worked with that firm - there might exist a different firm that specializes in US centric offshoring)
post #13 of 66
I'm wondering if anyone is going to get punished for this... as always people with money get away
post #14 of 66
Tax evasion is illegal, so most of the individuals will get punished, around here its up to due tax plus fine equalling due tax. The cooperations won't get punished hard enough for them to really feel it, the HSBC case where they laundered 100s of billion they get fined with 1.9 billion.

The problem is if the fine breaks the bank, all hell breaks loose, so they are sort of sacred cows.
post #15 of 66
And that is why periodic bloody revolutions are necessary . Images of hanged government officials should never be too distant of a memory.
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