Panama Papers : The Panama Documents are a repository of 15 million secret files collected by the Panamanian company Mossack Fonseca. In this, information related to a total of 2,14,000 companies is there. It also contains information about the directors of that company etc. It has so far told about the leaders of five countries, in which Argentina, Iceland, Saudi Arabia, Ukraine, United Arab Emirates are. Apart from this, it has also told about people associated with the government of 40 countries, including Brazil, China, Peru, France, India, Malaysia, Mexico, Pakistan, Indonesia, Russia, South Africa, Spain, Syria and Britain.
Nawaz Sharif had to leave the post of Prime Minister after the decision of the Supreme Court of Pakistan in the Panama Papers leak case, in the Panama Revelations, apart from Sharif, the assets of about 140 people including many film and sports personalities were also disclosed. The names of 500 Indians were also revealed in the disclosure of documents.
Panama is a small country whose population is only 4 million. The capital of Panama is named Panama City. Panama used to be a colony of Spain. Panama has low inflation and uses the US dollar as its currency.
What is the subject of Panama Paper
The Panama Papers is the world’s largest international collaboration, with more than 400 journalists from 80 countries and more than 100 media organizations researching these leaked documents over the past year. It is difficult to estimate how these documents were leaked. World-class media like BBC, Guardian, Indian Express etc. have also done a lot of work in the investigation of this incident, it has been considered as the biggest leak in the field of journalism so far.
What are shell companies
It only manages money. She also hides who the money belongs to. Lawyers, accountants and even office scavengers are included in the management of companies. He does nothing except sign papers and allow his name to be entered on the letterhead.
What is Offshore Law Firm
An offshore law firm is a firm that sells offshore companies to any person in the world. These shell companies give an opportunity to their promoters to hide all the information related to their business dealings. This company has more than a dozen secret offices around the world. Their job is to create, sell and control such an offshore company, with the help of which they get huge economic benefits and it helps to whiten the black paddy of the people.
A Shell Cooperation is such an organization, under which there is no active business of any kind, nor does it have any fixed assets under it. It is not necessary that any shell cooperation should be illegal. Sometimes they are also present as a start up.
This law firm allows its clients to create multiple accounts in secret, so that their money cannot be tracked by anyone. In this way, by using these accounts, people make their black money white with the help of money laundering.
Such offshore companies provide facilities for an individual to start, buy and sell a company easily. They provide a wide range of features to their clients at very low cost. Under this, a person can buy a company for just one thousand dollars, whose director’s name will also remain fake. If the owner wishes, he can also give the name of the rightful shareholder of the company.
What is Mosaic Fonseca
It is a law firm based in Panama, which sells its shell companies around the world. According to the ICIJ (International Consortium of Investigative Journalism), this organization acts as a doorman for its clients, drug dealers, mafia, corrupt politicians and tax evaders. When the company was sold to offshore companies, it was the fifth largest company in the world.
History: Mossack Fonseca Company was founded in the year 1977 by Jürgen Mossack and Roman Fonseca. It has over 500 employees spread across 40 offices around the world. It serves about 3 lakh companies and most of them are based in the UK or come under its income tax.
How to Leak Panama Paper
A few years ago some unknown and anonymous person contacted a German news SZ and he took out all the internal secret documents from this offshore law firm and handed them over to this newspaper. From here all the information spread in the media around the world. Under this, many big names of the country and abroad are involved, which is being revealed slowly.
Panama Leak Data Subject
This data mainly consisted of emails, various types of PDFs, photo files and part of the company’s internal database, according to the documents found in it it was revealed that how this offshore company operated by various big banks, legal firms and asset management companies was in the world. She was sheltering black money of big and money names like politicians, FIFA Officials, many drug smugglers, sportspersons etc.
how big was this leak
This leak was bigger than any leak in world history and by far the biggest leak. It contained at least 11.5 million documents, the size of which was 2.6 tetra bytes. Under this, there are many types of leaks such as WikiLeaks, Offshore Leak, Lux Leak, Swiss Leak etc.
- Panama Papers Leak (2016) : 2.6 TB
- Offshore Secret Leak (2013) : 260 GB
- Swiss Leek (2015) : 3.3 GB
- WikiLeaks (2010): 1.7 GB
Big Names Involved in Panama Papers Leak (Panama Papers Leak List Big Name)
Out of the 143 politicians about whom it has been mentioned, 12 are the heads of their countries. His family and close people are associated with it.
Many names from around the world surfaced in the Panama Papers leak. However, these names are not yet complete. The special name derived from the Panama Papers leaks.
- Argentine footballer Lionel Messi
- Hong Kong’s world famous Jackie Chan
- Argentina’s President Mauricio Marqui
- Caliph bin Zayed El Nahyan of the United Arab Emirates
- Of Ukraine’s Petroporoshenko
- Brother-in-law of famous Chinese leader Xi Jinping
- Father of the Prime Minister of the United Kingdom David Cameron
Apart from these, the names of many people have come forward in this leaks so far. The data that came out in the investigation is about 40 years from the year 1977 to 2015. These documents, leaked from Panama-based law firm Mossack Fonseca, are being claimed that the names of 500 Indian celebrities are mentioned in them.
From India – The names of about 500 people from India have come to the fore under this leaks, some of the prominent names are as follows.
- Amitabh Bachchan
- Aishwarya Rai Bachchan
- K P Singh
- Politicians Shishir Bajoria and Anurag Kejriwal
- Don Iqbal Mirchi
- Adani Brothers
- Sameer Gehlot of India Bulls
On May 10, 2016, the ICIJ published a detailed report of the ‘Panama Papers’ relating to companies being held in countries considered safe havens for tax evasion. There are thousands of documents in this, which are related to about 2000 people, companies and addresses of India. The ICIJ had exposed the secrecy of about 2.14 lakh foreign units established from Nevada to Hong Kong and in the British Virgin Islands.
The people of India are emotional, they are ready to give their lives for their loved ones. But if someone jokes with his feelings, they show him his level too. Elsewhere, the same situation should not happen to the superhero and beauty queen of the century, because the names of both are included in this leak. In such a situation, the public who can show them the face, they will not delay in bringing them on the ground also. Jai Hind.
In this way, this is also one of the big corruption at the international level, in which many such people were involved, whom common people consider as their ideal and try to follow the path shown by them. Under this money laundering, the black pride of many big personalities was being whitewashed. Please share this post in the interest of the nation!!