ICIJ · The International Consortium of Investigative Journalists

The Panama Papers Reading List

Introduction People Data Game
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Mossack Fonseca's US Operations Under Pressure, Island Offices Closed

Panamanian law firm Mossack Fonseca’s local affiliate in Nevada has resigned from more than 1,000 companies and paid a penalty to the state amid investigations on multiple fronts.

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US States Under Pressure As World Pushes For Financial Transparency

Nevada, Wyoming and Delaware are facing growing pressure over their lack of corporate transparency, as the United States and the international community continue to respond to fallout from the Panama Papers.

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The Malefactors of Mossack Fonseca

Meet The Dutchman, the Queen of the South, the Boss of Bosses and other convicted felons and alleged wrongdoers who have benefited from services provided by the law firm.

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Panama Papers Include Dozens of Americans Tied to Fraud and Financial Misconduct

Mossack Fonseca's files include offshore companies linked to at least 36 Americans accused of serious financial wrongdoing, including fraud and racketeering.

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Beyond Panama: Unlocking the world’s secrecy jurisdictions

The 21 jurisdictions covered by the Panama Papers data vary from the rolling hills of Wyoming to tropical getaways like the British Virgin Islands. But all have at least one thing in common - secrecy is the rule.

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Panama Papers Source Offers Documents To Governments, Hints At More To Come

The anonymous whistleblower behind the Panama Papers has conditionally offered to make the documents available to government authorities.

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US Officials React to Panama Papers Disclosures With Get-Tough Proposals

The Obama administration has proposed a national registry documenting the real owners of shell companies and other measures aimed at fighting offshore chicanery.

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Iceland’s First Lady Linked to Offshore Investments

Records in the Panama Papers and the Swiss Leaks leaked files tie the wife of Iceland President Ólafur Grímsson to offshore companies and accounts.

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Coming Soon: ICIJ to Release Panama Papers Offshore Companies Data

The database, to be released on May 9, will likely be the largest ever release of secret offshore companies and the people behind them.

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Cartel-Linked Suspects Arrested After Panama Papers Revelations

Uruguayan prosecutors are seeking to bring to trial at least five individuals detained on suspicion of laundering money for a powerful Mexican drug cartel.

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US Prosecutor Opens Investigation Into 'Panama Papers Matters'

ICIJ welcomes the interest from the Manhattan U.S. Attorney's office, but has made it clear it won't be turning over its data or taking part in any investigation.

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Banks Ordered to Provide Info on Panama Dealings to NY Regulator

More than a dozen banks identified in the Panama Papers investigation have been asked to hand over details of their communications with Mossack Fonseca.

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Pakistan's PM Leaves Country, Spanish Minister Resigns

Nawaz Sharif faces growing pressure and calls for his resignation, a Spanish minister has stepped aside, and more governments are pledging reform as fallout from the Panama Papers revelations continues.

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Panama Police Raid Mossack Fonseca As Global Fallout Continues

The search of Mossack Fonseca's Panama headquarters comes after a number of raids and official action taken in response to the Panama Papers revelations.

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Global joint investigation to be proposed at special tax meeting

Tax officials from 28 nations met in Paris to develop a strategy for collaborative action based on Panama Papers revelations.

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British PM Announces New Transparency Measures Following Panama Papers Revelations

David Cameron appeared before parliament on Monday to address concerns about his own links to offshore holdings revealed in the Panama Papers, as well as announce reform aimed at boosting transparency.

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The Art of Secrecy

Locked in the files of a Panama law firm are the answers to mysteries involving Van Goghs, Picassos, Rembrandts and other masterworks.

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Panama Papers Spark High-Level FIFA Resignation and Swiss Police Raid

Swiss police searched the office of Europe's top soccer association and a member of FIFA's ethics panel resigned following Panama Papers revelations.

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Leaked Files Offer Many Clues To Offshore Dealings by Top Chinese

Eight current and former members of the Politburo Standing Committee, the country's top decision makers, have relatives with secret offshore companies.

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Spies and Shadowy Allies Lurk in Secret With Help From Offshore Firm

Firm helps CIA operatives and other characters — real or fanciful — from the world of espionage set up offshore companies to obscure their dealings.

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Iceland Prime Minister Tenders Resignation Following Panama Papers Revelations

The prime minister of Iceland said he would resign following mass protests triggered by reports from ICIJ and partners that he had owned an offshore company in the British Virgin Islands with his wife.

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Law Firm’s Files Include Dozens of Companies and People Blacklisted by U.S. Authorities

Global law firm’s customers include suspected financiers of terrorism, nuclear weapons proliferators and gunrunners.

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How Family that Runs Azerbaijan Built an Empire of Hidden Wealth

Documents peel away three layers of secret ownership in a conglomerate and lead to gold mines and overseas real estate.

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Global Banks Team with Law Firms To Help the Wealthy Hide Assets

Leaked records show that hundreds of banks and their subsidiaries and branches registered nearly 15,600 shell companies.

About this project

The Panama Papers is an unprecedented investigation that reveals the offshore links of some of the globe’s most prominent figures.

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All Putin’s Men: Secret Records Reveal Money Network Tied to Russian Leader

Complex offshore financial deals channel money and power towards a network of people and companies linked to President Vladimir Putin.

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Giant Leak of Offshore Financial Records Exposes Global Array of Crime and Corruption

Millions of documents show heads of state, criminals and celebrities using secret hideaways in tax havens.

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Panamanian Law Firm Is Gatekeeper To Vast Flow of Murky Offshore Secrets

Files show client roster that includes drug dealers, Mafia members, corrupt politicians and tax evaders — and wrongdoing galore.

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Leak Ties Ethics Guru to Three Men Charged in FIFA Scandal

Secret documents show how deeply the world of soccer has become enmeshed in the world of offshore havens.

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Iceland’s Prime Minister Ducks Question But the Answer Catches Up with Him

He came to power after the country’s financial collapse while hiding his offshore holdings of millions in bonds from Icelandic banks.

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How the One Percenters Divorce: Offshore Intrigue Plays Hide and Seek with Millions

Firm that practices no matrimonial law nonetheless plays big role when the superrich around the globe decide to split.

Cartel-Linked Suspects Arrested After Panama Papers Revelations

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Uruguayan prosecutors are seeking to bring to trial at least five individuals detained on suspicion of laundering money for a powerful Mexican drug cartel, including at least one suspect allegedly linked to a company named in the Panama Papers.

articles/00Response/160425-cartel-01th.jpgThe five were among 11 initially detained in Montevideo on Friday by more than 30 law enforcement officials. The officials were already investigating, but decided to move quickly to preempt any attempt at flight after the weekly online magazine Busqueda reported that Gerardo González Valencia had used shell companies incorporated in Panama to buy real estate in Uruguay, including a chalet in Punta del Este.

The story was part of the Panama Papers investigation by ICIJ, German newspaper Süddeutsche Zeitung and more than 100 other news organizations that dug through 11.5 million files containing information on decades of operations by Panama law firm and offshore company incorporator Mossack Fonseca and Co.

González Valencia is linked to the rapidly expanding New Generation Cartel of Jalisco (CJNG) in Mexico. His brother Abigael González Valencia, now imprisoned in Mexico, headed the powerful “Los Cuinos” cartel. Abigael González Valencia has been designated a drug king pin in the United States along with his brother-in-law Nemesis Oseguera Cervantes, who leads CJNG.

The U.S. Treasury Department’s Office of Foreign Asset Control said when it named the two kingpins that the two organization “have rapidly expanded their criminal empire in recent years through the use of violence and corruption.” Acting director of OFAC John E. Smith said then that they “now rank among the most powerful drug trafficking organizations in Mexico.”

Meanwhile, ICIJ partner the McClatchy Company news chain reported that Ecuador’s president Rafael Correa and his brother had been mentioned in a Mossack Fonseca email to a law firm for which it provided shell corporations for its customers.

Sara Montenegro, a lawyer for Mossack Fonseca, sent an email in May 2012 to a Guayaquil firm “to notify you of an investigation being undertaken by the office of the Anti-Corruption Prosecutor of Panama, in reference to Misters FABRICIO CORREA and RAFAEL CORREA DELGADO for the crime of embezzlement against the Ecuadoran state, an investigation which involves a Panamanian corporation that was sold to you in 2006 called ORLION GROUP S.A.” The email was sent to a lawyer working for the Legalsa & Asociados firm, which had opened the offshore on behalf of an unidentified customer.

The prosecutor wanted shareholder information “which we did not give since we don’t have it,” Montenegro added. She asked Legalsa & Asociados for information on the true owners of the Orlion Group S.A. because an official demand was likely.

A few days later Mossack Fonseca’s head of compliance, Sandra de Cornejo, had recommended that her firm drop services to the Orlion Group S.A. “Although we have not found anything that ties the Correas and the entity,” she said, “I suggest resigning … because of the scant cooperation received from the client,” which Mossack Fonseca had asked for “know your customer” information two years before. Mossack Fonseca resigned as Orlion Group’s agent in July 2012.

articles/00Response/160425-shredded-01.jpgIn an unrelated incident, Panamanian officials seized bags of shredded documents during a search of one of the law firm’s premises late last week.

The search was conducted as part of an ongoing investigation into the law firm’s activities. Mossack Fonseca’s Panama City headquarters was raided by police earlier in April.

Mossack Fonseca said the shredded paperwork seized in the latest search were documents that had been digitized and were to be recycled. The firm said authorities had already obtained copies of these files during their initial search of the firm’s headquarters.

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