Panama Papers

==Clients of Mossack Fonseca==
Mossack Fonseca has managed more than 300,000 companies over the years.<ref name="to know" /> The number of active companies peaked at more than 80,000 in 2009. Over 210,000 companies in twenty-one jurisdictions figure in the leaks. More than half were incorporated in the [[British Virgin Islands]], with others in Panama, the Bahamas, the [[Seychelles]], [[Niue]], and Samoa. Mossack Fonseca's clients came from more than 100 countries. Most of the corporate clients were from Hong Kong, Switzerland, the United Kingdom, Luxembourg, Panama, and Cyprus. Mossack Fonseca worked with more than 14,000 banks, law firms, incorporators, and others to set up companies, foundations, and trusts for their clients.<ref name="ICIJ graphs">{{cite web |url=https://panamapapers.icij.org/graphs/ |title=The Panama Papers Numbers |website=panamapapers.icij.org |access-date=April 4, 2016 |url-status=live |archive-url=https://web.archive.org/web/20160403231300/https://panamapapers.icij.org/graphs/ |archive-date=April 3, 2016 }}</ref> Some 3,100 companies listed in the database appear to have ties to US offshore specialists, and 3,500 shareholders of offshore companies list US addresses.<ref name=SeattleUS>{{cite web |last1=Hall |first1=Kevin G. |last2=Taylor |first2=Marisa |url=http://www.seattletimes.com/nation-world/americans-including-a-bellevue-man-show-up-in-panama-papers/ |title=Americans, including a Bellevue man, show up in Panama Papers |work=[[The Seattle Times]] |date=April 4, 2016 |access-date=April 5, 2016 |url-status=live |archive-url=https://web.archive.org/web/20160405023526/http://www.seattletimes.com/nation-world/americans-including-a-bellevue-man-show-up-in-panama-papers/ |archive-date=April 5, 2016 }}</ref> Mossack Fonseca has offices in Nevada and Wyoming.<ref name=KCStar>{{cite web |url=http://www.kansascity.com/news/nation-world/world/article70008302.html |title=US scolds others about offshores, but looks other way at home |work=[[Kansas City Star]] |access-date=April 6, 2016 |date=April 5, 2016 |url-status=live |archive-url=https://web.archive.org/web/20160407224021/http://www.kansascity.com/news/nation-world/world/article70008302.html |archive-date=April 7, 2016 }}</ref>

The leaked documents indicate that about US$2&nbsp;trillion has passed through the firm's hands.<ref>{{cite news |url=http://elsiglo.com/panama/investigara-mossack-fonseca/23931813 |language=es |trans-title=MP investigated Mossack Fonseca |title=MP investigará a Mossack Fonseca |work=El Siglo |author=Irving Delgado Nay |date=April 4, 2016 |access-date=April 5, 2016 |url-status=live |archive-url=https://web.archive.org/web/20160405164458/http://elsiglo.com/panama/investigara-mossack-fonseca/23931813 |archive-date=April 5, 2016 }}</ref> Several of the holding companies that appear in the documents did business with sanctioned entities, such as arms merchants and relatives of dictators, during the time that the sanctions were in place. The firm provided services to a Seychelles company named Pangates International, which the US government believes supplied aviation fuel to the Syrian government during the [[Syrian civil war|current civil war]], and continued to handle its paperwork and certify it as a company in good standing, despite sanctions, until August 2015.<ref name=bbcSyr />

More than 500 banks registered nearly 15,600 [[shell company|shell companies]] with Mossack Fonseca, with [[HSBC]] and its affiliates accounting for more than 2,300 of the total. [[Dexia]] and [[J. Safra Sarasin]] of Luxembourg, [[Credit Suisse]] from the Channel Islands and the Swiss [[UBS]] each requested at least 500 offshore companies for their clients.<ref name="ICIJ graphs" /> An [[HSBC]] spokesman said, "The allegations are historical, in some cases dating back 20 years, predating our significant, well-publicized reforms implemented over the last few years."<ref name="MyUser_Uk.reuters.com_5_April_2016c">{{cite news |title=Credit Suisse, HSBC dismiss 'Panama Papers' tax avoidance allegations |work=Reuters |location=United Kingdom |date=April 5, 2016 |url=http://uk.reuters.com/article/uk-panama-tax-banks-idUKKCN0X208V |access-date=April 5, 2016 |url-status=live |archive-url=https://web.archive.org/web/20160405080736/http://uk.reuters.com/article/uk-panama-tax-banks-idUKKCN0X208V |archive-date=April 5, 2016 }}</ref>

{| class="wikitable sortable zebra"
|+ Foundations firms 'offshore' customers through banks
|-
! Headquarters!! Bank!! Number of<br />foundations
|-
| {{LUX}} || Experta Corporate & Trust Services (100% subsidiary of [[Banque Internationale à Luxembourg|BIL]]) || align="right" | 1,659
|-
| {{LUX}} || [[J. Safra Sarasin|Banque J. Safra Sarasin]] – Luxembourg S.A. || align="right" | 963
|-
| {{UK}}<hr />{{GGY}} || [[Credit Suisse]] Channel Islands Limited || align="right" | 918
|-
| {{MCO}} || [[HSBC]] Private Bank (Monaco) S.A. || align="right" | 778
|-
| {{CHE}} || HSBC Private Bank (Suisse) S.A. || align="right" | 733
|-
| {{CHE}} || [[UBS]] AG (subsidiary Rue du Rhône in Genebra) || align="right" | 579
|-
| {{UK}}<hr />{{JEY}} || [[Coutts & Co]] Trustees (Jersey) Limited || align="right" | 487
|-
| {{LUX}} || [[Société Générale]] Bank & Trust Luxembourg || align="right" | 465
|-
| {{LUX}} || [[Landsbanki]] Luxembourg S.A. || align="right" | 404
|-
| {{UK}}<hr />{{GGY}} || [[Rothschild & Co.|Rothschild]] Trust Guernsey Limited || align="right" | 378
|-
| {{ESP}} || [[Banco Santander]] || align="right" | 119
|-
| {{ESP}} || [[BBVA]] || align="right" | 19
|}