GROUP 2

The

Panama Papers,
International Consortium
of
Investigative Journalism
First paragraph
 The leak of 11.5 million documents that detailed secret
financial and attorney-client information for more than
214,000 offshore entities was one the most ambitious
and compelling investigative projects to come out of
2016 — and probably the last decade. Conducted by
the International Consortium of Investigative
Journalists and German newspaper Süddeutsche
Zeitung, in partnership with more than 100 other news
organizations, the investigation led to the resignation of
top officials, police raids and several other
investigations.
 The first paragraph was created
through the leaked documents and
information regarding the case of

Mossack Fonseca
Mossack
fonseca
HOW IT’S WRITTEN
GOING FURTHER INTO DETAIL
Mossack Fonseca & Co. (Spanish pronunciation: [mos.ˈsak̚k
fõn.ˈse.ka]) was a Panamanian law firm and corporate service
provider. It was, at one time, the world's fourth largest provider of
offshore financial services. From its 1977 foundation until the April
2016 publication of the Panama Papers it remained mostly
obscure, even though it sat at the heart of the global offshore
industry, and acted for about 300,000 companies. More than half
are registered in British tax havens – as well as in the UK. The firm
received worldwide media attention in April 2016, when the
International Consortium of Investigative Journalists published
information about its clients' financial dealings in the Panama
Papers articles, following the release of an enormous cache of its
documents from between 1970 and 2015 leaked to the news media.
Journalist Daphne Caruana Galizia, who led the disclosure efforts,
was subsequently murdered by a car bomb on October 16, 2017.
On March 14, 2018, the law firm announced that it was shutting
down, because of the economic and reputational damage inflicted
by the disclosure of its role in global tax evasion by the Panama
Papers.
MOSSACK FONSECA
OFFSHORE FINANCE
Panamian firm mossack fonseca
helped these companies ( in the
next slide) operate as the attacks in
Syria continued.
British Virgin Islands
Bahamas
Seychelles
Niue
Samoa
British Anguilla
Nevada U.S.
Hong Kong
United Kingdom
Belize
Cyprus
Uruguay
New Zealand
Jersey
Costa Rica
Wyoming U.S.
Malta
Isle Of Man
Mossack fonseca- keyplayer in a
sprawling secretive industry that
the world's rich and powerfuul use
to hide assets and skirt rules by
setting up front companies in far-
flung jurisdictions.
FACTS
What:
When: The papers that ontained inforation was released
on 9th of ay 2016
Where: The country of Panama located in Central
America
What is offshore?
Second Paragraph
 The investigative papers dug into the
secretive industry of offshore accounts used
y the world’s rich and powerful assets and
skirt rules by setting up front companies in
far-flung jurisdictions. While the papers
raised controversy around the world after
their release on May 9, the project was
honored with a Gold Barlett & Steele Award
for Inestigative Journalism in 2016.
The term offshore refers to a
location outside of one's national
boundaries, whether or not that
location is land- or water-based.
The term may be used to describe
foreign banks, corporations,
investments, and deposits.
A company may legitimately move
offshore for the purpose of tax
avoidance or to enjoy relaxed
regulations. Offshore financial
institutions can also be used for
illicit purposes such as money
laundering and tax evasion.
Offshoring isn't usually
illegal—hiding it is.
PEOPLE INVOLVED
or

List of people named in the Panama

Papers
Sigmundur Davíð Gunnlaugsson
 Sigmundur Davíð Gunnlaugsson (Icelandic pronunciation:
[ˈsɪɣmʏntʏr ˈtaːvið ˈkʏnløyxsɔn]; born 12 March 1975) is
an Icelandic politician who was the youngest serving
Prime Minister of Iceland from May 2013 until April
2016. He was also chairman of the Progressive Party
from 2009 to October 2016. He was elected to the
Althing (Iceland's parliament) as the 8th member for the
Reykjavík Constituency North on 25 April 2009. He has
represented the Northeast Constituency as its 1st
member since 27 April 2013.
 Following the release of the Panama Papers, he
announced on 5 April 2016 that he would step aside
from the office of Prime Minister. On 7 April 2016 he
was replaced as Prime Minister by Sigurður Ingi
Jóhannsson, who also replaced him as chairman of
the Progressive Party on 2 October 2016.
Sigmundur Davíð first rose to prominence in Iceland
as a spokesperson for the InDefence movement,
which fought foreign creditors' attempts to make
Iceland pay £2.3 billion in compensation to the
United Kingdom and the Netherlands following the
collapse and subsequent nationalisation of Iceland's
three banks. As Eirikur Bergmann wrote in The
Guardian, "This was the most serious diplomatic
crisis the country had ever fought and Gunnlaugsson
was at the forefront of it."He and his wife Anna
Sigurlaug Pálsdóttir already owned the offshore
company Wintris at the time, having bought it in
2007 from Mossack Fonseca through the
Luxembourg branch of Landsbanki and registered it
in the British Virgin Islands.
AND THE FOLLOWING:
 Argentine President  U.K. Prime Minister David
Mauricio Macri Cameron

 Petro Poroshenko  Michel Platini

 United Arab Emirates  Lionel Messi

President Khalifa bin Zayed
Al Nahyan  Andy Cole

 Dominique Strauss-Kahn  Tiger Woods

 José Manuel Soria

etc.