Panama Papers

== Disclosures ==
In addition to the much-covered business dealings of British prime minister [[David Cameron#Inheritance and family wealth|David Cameron]] and Icelandic prime minister [[Sigmundur Davíð Gunnlaugsson]], the leaked documents also contain identity information about the shareholders and directors of 214,000 shell companies set up by [[Mossack Fonseca]], as well as some of their financial transactions. Although it is generally not against the law to own an offshore shell company, reporters found that some of the shell corporations were used for illegal purposes, including fraud, tax evasion, and evading international sanctions.

The journalists on the investigative team found business transactions by many important figures in world politics, sports, and art. While many of the transactions were legal, since the data is incomplete, questions remain in many other cases; still others seem to clearly indicate ethical if not legal impropriety. Some disclosures – [[tax avoidance]] in very poor countries by very wealthy entities and individuals for example – led to questions on moral grounds. For example, the shell company Octea is registered to [[Beny Steinmetz]] and owes more than US$700,000 in property taxes to the city of [[Koidu]] in [[Sierra Leone]], and is $150 million in debt, even though its [[export]]s were more than twice that in an average month in the 2012–2015 period.<ref>{{Cite web|date=November 24, 2015|title=Mining loses its sparkle for billionaire as town – and Tiffany – revolt|url=https://www.independent.co.uk/news/world/africa/diamond-mining-company-octea-facing-claims-it-owes-money-to-sierra-leone-town-and-new-york-jeweller-tiffany-a6747481.html |archive-url=https://ghostarchive.org/archive/20220524/https://www.independent.co.uk/news/world/africa/diamond-mining-company-octea-facing-claims-it-owes-money-to-sierra-leone-town-and-new-york-jeweller-tiffany-a6747481.html |archive-date=May 24, 2022 |url-access=subscription |url-status=live|access-date=August 14, 2021|website=The Independent|language=en}}</ref><ref name="NamStein" /> Steinmetz himself has a personal worth of $6 billion.<ref name=NamStein>{{cite news |url = http://www.namibian.com.na/Sierra-Leone's-flawed-diamond-trade/39957/read |title = Sierra Leone's flawed diamond trade |author1=Khadija Sharife |author2=Silas Gbandia |date=April 26, 2016 |access-date=April 27, 2016 |url-status=live |archive-url = https://web.archive.org/web/20170510111253/http://www.namibian.com.na/Sierra-Leone's-flawed-diamond-trade/39957/read |archive-date=May 10, 2017 }}</ref>

Other offshore shell company transactions described in the documents do seem to have broken exchange laws, violated trade sanctions or stemmed from political corruption, according to ICIJ reporters. For example:
* Uruguay has arrested five people and charged them with [[money-laundering]] through Mossack Fonseca shell companies for a [[Mexican drug cartel]].<ref name=ICIJuru>{{cite news |url = https://panamapapers.icij.org/20160425-cartel-arrests-uruguay.html |title=Cartel-Linked Suspects Arrested After Panama Papers Revelations |author=Martha M. Hamilton |date=April 25, 2016 |access-date=April 30, 2016 |work=Panama Papers |url-status=live |archive-url = https://web.archive.org/web/20170130030113/https://panamapapers.icij.org/20160425-cartel-arrests-uruguay.html |archive-date=January 30, 2017 }}</ref>
* ''Ouestaf'', an ICIJ partner in the investigation, reported that it had discovered new evidence that [[Karim Wade]] received payments from [[DP World]] (DP). He and a long-time friend were convicted of this in a trial that the [[United Nations]] and [[Amnesty International]] said was unfair and violated the defendants' rights. The ''Ouestaf'' article does not address the conduct of the trial, but does say that ''Ouestaf'' journalists found Mossack Fonseca documents showing payments to Wade via a DP subsidiary and a shell company registered to the friend.<ref name=OuPiste>{{cite news |url=http://www.ouestaf.com/Panama-papers-et-societes-offshore-sur-la-piste-des-fonds-de-Karim-Wade-Exclusif_a5988.html |title = " Panama papers " et sociétés offshore : sur la piste des fonds de Karim Wade ? (Exclusif) |date=April 3, 2016 |access-date=April 30, 2016 |language = fr |website= Ouestaf.com |url-status=dead |archive-url = https://web.archive.org/web/20160415115229/http://www.ouestaf.com/Panama-papers-et-societes-offshore-sur-la-piste-des-fonds-de-Karim-Wade-Exclusif_a5988.html |archive-date=April 15, 2016 }}</ref>
* Swiss lawyer Dieter Neupert has been accused of mishandling [[client funds]] and helping both oligarchs and the [[House of Thani|Qatari royal family]] to hide money.<ref>{{Cite news |url=https://www.albawaba.com/business/secret-dealings-of-swiss-lawyer-dieter-neupert-922326 |title=The Secret Dealings of Swiss Lawyer Dieter Neupert |date=January 5, 2017 |work=Al Bawaba |access-date=June 19, 2017 |language=en |url-status=live |archive-url = https://web.archive.org/web/20171001222658/https://www.albawaba.com/business/secret-dealings-of-swiss-lawyer-dieter-neupert-922326 |archive-date=October 1, 2017 }}</ref>

Named in the leak were 12 current or former world leaders; 128 other public officials and politicians; and hundreds of celebrities, businessmen, and other wealthy individuals of over 200 countries.<ref>{{Cite web|date=April 4, 2016|title=The Panama Papers: 7 things to know|url=https://www.cnn.com/2016/04/04/world/panama-papers-explainer/index.html|access-date=October 24, 2021|website=CNN|language=en}}</ref>