Panama Leaks
Panama Leaks
The biggest news in the journalism world at the moment is the Panama leaks. The list of Indians found during this major leak is shocking. Read on to stun yourself further.
Panama papers have leaked some of the most important documents relating Mossack Fonseca firm in Panama. This has aided majority of investors around the world to launder money, evade tax and the list of such amazing activities goes on.
According to the source of Indian newspaper, “The Indian Express”; 500 Indian celebrities are on the list. Shocked? Well, you might be more shocked to hear that these names have people like Amitabh Bachan, Aishwarya Rai Bachan, the famous politician Anurag Kerjiwal and the real estate developer KP Singh. The actual team behind the Panama papers has to say that a lot of offshore companies are probable to be for valid uses.
Panama leaks have definitely caught fire as all the journalists around the world are digging in for more information on this topic. Panama Papers is one of the largest international cooperation in the world. In the previous one year, almost 400 journalists from different (100) organizations and in approximately 80 countries, have taken part in the activity of researching these documents. The Panama leaks have been declared as one of the biggest leaks that has ever taken place in the journalism world. A lot of famous journalists have taken part in this research activity.
The leaked documents have opened up names of the biggest clients of Mossack Fonseca. There is a list of people, for instance the Fifa vice president and Juan Pedro who have laundered money and evaded tax.
What is Mossack Fonseca?
Mossack Fonseca is a Panama law firm which sells unidentified offshore companies throughout the world. These shells give the facility to their promoters to hide off their business meetings and dealings. Cutting the long story short; no one knows what goes on behind the curtains of these companies.
This company however sells its shells in London, Hong Kong and many other cities familiar to these. Moreover, the cost that Mossack Fonseca is offering for buying an offshore company from them is really less. You can get an offshore company from this Panama Law firm for as less as $1000. This makes just Rs.66, 290 only.
For an extra fee, you need a fake director and if the client desires, they obscure the true shareholder of the company as well.
The source who leaked it; does it demand something?
The source, who is behind the Panama leaks, has not demanded anything in terms of financial needs. The only demand from the source was of few security measures.
How many Indians are Involved in this?
The Panama leaks show that almost 500 Indians are involved in this and have used Panama to park their money. Further reports come up with the fact that these offshore companies are used for tax evasion purposes.