The Panama Papers were leaked by the International Consortium of Investigative Journalists (ICIJ) in 2016. Then the world came to know how rich people invest their black money in tax havens like Panama. Now the documents of the Pandora Papers investigation have started coming out regarding Panama itself. These have also been prepared by ICIJ. It is believed that in a day or two, the full investigation report of the journalists will come out. There may be some shocking revelations in this.
The greatest journalistic partnership in history has exposed the financial secrets of 35 current and former executives. With millions of documents leaked from more than 330 politicians and officials in 91 countries and territories, and a worldwide list of fugitives, scammers, and murderers.
According to media reports that surfaced late Sunday night, the Pandora Papers contains the names of around 100 billionaires in the world. Apart from this, the names of some celebrities from India, Russia, Pakistan, the UK, and Mexico are also in the files. They are also accused of forming shell companies. The names of the King of Jordan, former British Prime Minister Tony Blair and the former President of Ukraine have also been mentioned in these released documents. At the same time, the names of Pakistan PM Imran Khan’s ministers to close ones are also included in this.
However, till now their detailed information has not been revealed. According to a report released in ‘Times of India’, the names of around 300 Indians are in these documents.
According to a report published in the Indian Express, Anil Ambani, who claims himself to be bankrupt in the UK court, also has 18 companies abroad.
At the same time, the sister of diamond merchant Nirav Modi, who had scammed thousands of crores from Punjab National Bank, had formed a trust a month before his escape. The report also states that after the Panama Papers leak, Indians started ‘reorganizing’ their wealth. According to this, cricket legend Sachin Tendulkar had also started selling his property in the British Virgin Islands three months after the leak.
Panama’s credibility is again under fire
Central American country Panama is counted among tax haven countries. These rich people can get citizenship by paying money. The rules and regulations of investment are very mild.
The Panama Papers leak came forward in 2016. This too was leaked by ICIJ itself. The names of rich people of many countries of the world including India were revealed. Now the Pandora Papers are out.
The Panamanian government fears that due to the Pandora Papers, its image in the world may be hit again. This is the reason it has also issued an official letter to ICIJ through a legal firm not to issue this paper. The letter said — the release of these latest documents will again create a false impression about Panama. This would harm Panama and its people.
How this investigation happened
ICIJ told on social media — We will release documents related to the biggest economic investigation ever on Sunday. For this, 120 million documents have been examined worldwide. Six hundred journalists from 117 countries participated in the investigation.
The Panamanian government says that it has made many investment-related reforms, but it is also true that the European Union still keeps Panama in the list of tax haven countries. The government of Panama says that in 5 years it has suspended the registration of 3 lakh 95 thousand companies. It is said about Panama that these fake companies (shell companies) are created, and they are used for tax evasion in the respective countries.
What was the Panama Papers Leak Scandal
It was part of an investigation into foreign leaks and an attempt to trace the people behind the nearly 3.2 million foreign companies and trusts linked to it. This confidential information gathered from the data centre of Panamanian law firm Mossack Fonseca were discussed as ‘Panama Papers’. Data of more than 1.15 crore files of Mossack Fonseca was leaked. Then the information was given from 1977 to the end of 2015.