An investigation led by the International Consortium of Investigative Journalists has reportedly resulted in the release of the so-called “Panama Papers” that detail four decades worth of tax havens for suspected money laundering, arms and drug deals, and tax avoidance.
PANAMA CITY, PANAMA (APRIL 3, 2016) (REUTERS) – More than 11.5 million documents from the files of law firm Mossack Fonseca, based in the tax haven of Panama, were leaked on Sunday (April 3), revealing details of hundreds of thousands of clients.
The documents are at the centre of an investigation by the International Consortium of Investigative Journalists, the German newspaper Süddeutsche Zeitung and more than 100 other news organizations around the globe. ICIJ is the international arm of the Center for Public Integrity.
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 avoidance.