#PanamaPapers was the top trending topic on Twitter yesterday. It is trending on Facebook and on the front page of reddit.
Why? What is this all about?
Yesterday, news broke of a year-long investigation into offshore shell corporations. These companies have been used by some of the world’s most notable politicians and leaders to hide billions of dollars. The investigation is being called the “Panama Papers” scandal because the information was leaked from a Panamanian law firm, Mossack Fonseca, by an anonymous source.
The data was initially obtained by the German newspaper Süddeutsche Zeitung and shared with the International Consortium of Investigative Journalists (ICIJ). The scope of the leak is massive—11.5 million documents on 214,000 shell companies spanning a period from 1977 to 2015. This may be the largest leak of classified information in history. Nearly 400 journalists in more than twenty-five languages have worked on the story over the last year.
According to the BBC, the leak reveals information about seventy-two current or former heads of state. Syria’s President Bashar al-Assad, Egypt’s former President Hosni Mubarak, and Libya’s former leader Muammar Gaddafi were included. According to The Guardian, associates of Russian President Vladimir Putin secretly moved as much as $2 billion through offshore accounts.
Continue reading Denison Forum – ‘PANAMA PAPERS’ CORRUPTION SCANDAL BREAKS THE INTERNET
