Monday, April 4, 2016

‘Panama Papers’: World Leaders Caught Up in ‘Biggest Financial Leak in History’

 
Over 11 million leaked documents from the Panama-based law firm Mossack Fonseca reveal how some of the world’s richest and most powerful people hide their wealth in tax havens.

It is being described as the biggest such leak in history.

It is claimed that secret offshore deals and loans worth $2 billion are linked to the inner circle of Vladimir Putin, although the Russian President is not himself named in the files which allegedly show some firms domiciled in tax havens were being used for suspected money laundering and tax evasion.

A Kremlin spokesman says the investigation was aimed at discrediting the president and had been conducted by former US intelligence staff.

Ukrainian President Petro Poroshenko is listed as having offshore wealth – one of 12 current or former leaders mentioned in the files.

Around 60 people with close ties to leaders also feature including Li Xiaolin, the daughter of former Chinese Prime Minister Li Peng. 

Click here for the full article.

Source: Euronews

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