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There Will Be A Huge New 'Panama Papers' Data Dump (businessinsider.com)

An anonymous reader writes: The International Consortium of Investigative Journalists said in an email that on May 9 it would "publish what will likely be the largest-ever release of information about secret offshore companies and the people behind them," based on data from the Panama Papers investigation. "The searchable database will include information about more than 200,000 companies, trusts, foundations, and funds incorporated in 21 tax havens, from Hong Kong to Nevada in the United States." The ICIJ said in the email, "The impact of Panama Papers has been epic." The investigation has caused Icelandic Prime Minister Sigmundur David Gunnlaugsson to resign following revelations about his personal finances. It has caused Putin to point fingers at the West, accusing the U.S. of trying to weaken Russia. It has even created drama in the UK with calls for Prime Minister David Cameron to resign after his connections to offshore companies became evident. In addition, the ICIJ said, "[The Panama Papers investigation] sparked a new sense of urgency among lawmakers and regulators to close loopholes and make information about the owners of shell companies public."

5 of 110 comments (clear)

  1. "The impact of Panama Papers has been epic." by Anonymous Coward · · Score: 5, Interesting

    Ha, I'll believe it when I see it. If they're wealthy enough to take full advantage of these tax havens then they're wealthy enough to escape repercussion.

  2. Including John Kerry's accounts? by Anonymous Coward · · Score: 2, Interesting

    Surprise, surprise, surprise!

    John Kerry is dirty

  3. Can the US join this time? by king+neckbeard · · Score: 5, Interesting

    One disappointing thing about the last leak is that it basically had no US connections. A leak that included US clients could probably bring down Clinton, Trump, and half of Congress.

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  4. Soros by labnet · · Score: 5, Interesting

    Not much gets into main stream media without puppeteers pulling strings: And when I hear the Soros foundation is partially bankrolling this, you gotta ask why.

    Quote from infowars.

    The Panama Papers expose offshore tax havens in Switzerland, the Bahamas, Grand Cayman, and Panama, but says nothing about a new arrangement legalized under FATCA, the Foreign Account Tax Compliance Act.

    The law “makes the parking of dirty US money abroad practically impossible. So where does that money go instead—it stays in the US,” writes Zero Hedge. “And, to top it off, there is one specific firm which is spearheading the conversion of the U.S. into Panama: Rothschild.”

    The international bankster institution opened a trust company in Reno, Nevada. “It is now moving the fortunes of wealthy foreign clients out of offshore havens such as Bermuda, subject to the new international disclosure requirements, and into Rothschild-run trusts in Nevada, which are exempt,” Bloomberg reports. The United States “is effectively the biggest tax haven in the world,” boasted Andrew Penny of Rothschild. One of the world’s largest providers of offshore accounts, Trident Trust, opened an office in Sioux Falls, South Dakota.

    http://www.infowars.com/soros-...

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  5. Re:Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 1, Interesting

    "offshore" "tax havens" are typically used BECAUSE THEY ARE LEGAL... whether it's an individual or a big corporation like apple or microsoft.... THAT IS WHY THEY DO IT.. because they can, and because it's LEGAL. public corporations have the added obligation of 'maximizing shareholder value' and you do that by reducing your costs (taxes) as much as possible.. and that means utilizing all the legal tools and resources available, regardless of country. now i'm sure that some of the data to be released will detail illegal transactions and such.. but the majority of the persons and businesses (we're talking the 'non drug dealer' and 'non terrorist' types) will be legal transactions and accounts for which the public has absolutely no business knowing anything about.

    This is pure FUD and propaganda, and it has been debunked many times by actual Wall St. economists with publications and degrees to their name. Once again, it is pure FUD and propaganda.