(TRUNEWS) The group of journalists who released the illegally obtained documents infamously entitled ‘The Panama Papers’, have promised a second release of documents next month.
The International Consortium of Investigative Journalists will release on May 9 a searchable database with information on more than 200,000 offshore entities that are part of the Panama Papers investigation.
In the initial disclosure, a secretive ‘John Doe’ placed himself at the center of the illegal hacking and leak of the infamous ‘Panama Papers’ from the law firm Mossack-Fonseca. The dumping of over 11.5 million documents has resulted in a world-wide domino-like effect, impacting foreign leaders and high profile wealth-builders.
London’s Independent newspaper is reporting that the mysterious individual contacted German reporters in 2014 with a mysterious online message:
“Hello. This is John Doe. Interested in data?”
The anonymous source then began the process of off-loading terabytes of confidential data, including corporate agreements, internal company emails, private lawyer-client communications, and even copies of passports.
A company list showing the Mossack Fonseca law firm is pictured on a sign at the Arango Orillac Building in Panama City April 3, 2016. REUTERS/Carlos Jasso
The Panama Papers Trail
The Panama Papers investigation revealed the secret offshore dealings of world leaders and other politicians as well as criminals and celebrities. It exposed the role of big banks in facilitating secrecy and tax evasion and avoidance. And it showed how companies and individuals blacklisted in the U.S. and elsewhere for their links to terrorism, drug trafficking and other crimes were able to do business through offshore jurisdictions.
Since its release, the Panama Papers investigation has led to high profile resignations, including the prime minister of Iceland; triggered official inquiries in multiple countries; and put pressure on world leaders and other politicians, such as Britain’s Prime Minister David Cameron, toexplain their connections to offshore companies. It sparked a new sense of urgency among lawmakers and regulators to close loopholes and make information about the owners of shell companies public.
In the U.S., where several states act as tax havens for people from all over the world, President Barack Obama commented on the Panama Papers revelations and said global tax avoidance facilitated by secrecy jurisdictions is “a huge problem.” The president added that “a lot of it is legal, but that’s exactly the problem. It’s not that they’re breaking the laws, it’s that the laws are so poorly designed.”
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