I saw this mentioned in OND and was so startled I didn’t even bother to finish the OND yet (sorry). I didn’t see anything else on DK about this, so I wanted to just get this out there.
http://www.bbc.com/news/world-35918844 (h/t side pocket)
Eleven million documents were leaked from one of the world's most secretive companies, Panamanian law firm Mossack Fonseca.
They show how Mossack Fonseca has helped clients launder money, dodge sanctions and evade tax.
…
The documents show links to 72 current or former heads of state in the data, including the Icelandic Prime Minister, Sigmundur Gunnlaugson, who had an undeclared interest linked to his wife's wealth and is now facing calls for his resignation.
The files also reveal a suspected billion-dollar money laundering ring involving close associates of President Putin.
Gerard Ryle, director of the International Consortium of Investigative Journalists (ICIJ), said the documents covered the day-to-day business at Mossack Fonseca over the past 40 years.
…
It also reveals a suspected billion-dollar money laundering ring that was run by a Russian bank and involved close associates of President Putin.
The operation was run by Bank Rossiya, which is subject to US and EU sanctions following Russia's annexation of Crimea.
Regarding the source of the leak: “Eleven million documents held by the Panama-based law firm Mossack Fonseca have been passed to German newspaper Suddeutsche Zeitung, which then shared them with the International Consortium of Investigative Journalists. BBC Panorama is among 107 media organisations - including UK newspaper the Guardian - in 78 countries which have been analysing the documents. The BBC doesn't know the identity of the source.”
Apparently the leak amounts to 2.6 terabytes (or 26,000 gigabytes) of data.
http://www.theguardian.com/news/2016/apr/03/what-you-need-to-know-about-the-panama-papers
http://www.theguardian.com/news/2016/apr/03/panama-papers-money-hidden-offshore
A network of secret offshore deals and vast loans worth $2bn has laid a trail to Russia’s president, Vladimir Putin.
An unprecedented leak of documents shows how this money has made members of Putin’s close circle fabulously wealthy.
Though the president’s name does not appear in any of the records, the data reveals a pattern – his friends have earned millions from deals that seemingly could not have been secured without his patronage.
The documents suggest Putin’s family has benefited from this money – his friends’ fortunes appear his to spend.
The files are part of an unprecedented leak of millions of papers from the database of Mossack Fonseca, the world’s fourth biggest offshore law firm. They show how the rich and powerful are able to exploit secret offshore tax regimes in myriad ways.
The offshore trail starts in Panama, darts through Russia, Switzerland and Cyprus – and includes a private ski resort where Putin’s younger daughter, Katerina, got married in 2013.
The Panama Papers shine a particular spotlight on Sergei Roldugin, who is Putin’s best friend. Roldugin introduced Putin to the woman he subsequently married, Lyudmila, and is godfather to Putin’s older daughter, Maria
Presumably, this means that anyone who’s been involved in helping Putin and/or Russia evade economic sanctions over Russia is in a world of shit right now if they 1) are not currently in Russia and 2) ever had any dealings with Mossack Fonseca.
This is likely to further isolate Russia diplomatically from at least the West (if not necessarily the rest of the world). I wonder if this will have any implications in Syria or other international sources of tension (such as the border dispute between Armenia and Azerbaijan, for example).
Haven’t read anything about any Americans being involved, other than the one mentioned in the BBC article. Surely that will start getting hashed out when the DC press wakes up on the East Coast this morning.
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Update:
Here’s ICIJ’s summary. There is a metric shit-ton of information at this link that I am not going to be able to get through tonight, I’ll have to revisit this in the morning. There is an absolutely overwhelming amount of commentary going on about this right now, and the USA hasn’t even woken up yet. Buckle up.