Panama Papers: The Shady World of Offshore Companies

2016 ,    »  -   9 Comments
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Ratings: 7.69/10 from 71 users.
Storyline
Panama Papers: The Shady World of Offshore Companies

The recent unveiling of over eleven thousand documents have members of the news media buzzing. The content of these documents incriminate many of the world's most powerful leaders and nefarious criminals. No one knows the identity of the whistleblower who leaked these materials, but their actions have set off a series of intense investigations that could have far-reaching implications.

They're the Panama Papers, and they reveal the offshore accounts of everyone from the, now Ex-Prime Minister of Iceland to the world's most notorious drug traffickers. Panama Papers: The Shady World of Offshore Companies sets out to investigate the questionable dealings of Mossack Fonseca, the firm which handles each of the more than 214,000 accounts detailed in the documents, as well as the potentially illegal activities of its clientele.

A great number of these offshore accounts were set up to establish a tax haven for the wealthy. In some cases, they're suspected of being used to hide more sinister enterprises such as money laundering and the funding of terrorist organizations.

Headed by Jurgen Mossack, who is described in the film as "a lawyer without a conscience", Mossack Fonseca is a firm based out of Panama, and they provide tax shelters to a wide variety of businesses and individuals throughout the globe. The film follows a team of over a hundred investigative journalists as they work in collaboration to unveil the depths of their operation. In the process, they uncover a series of shady practices. One example involves a company called Elite Industrial Holdings. After purchasing a piece of the popular Olympia typewriter business, Elite placed its holdings in an offshore account hosted by Mossack Fonseca. This account provided them great financial flexibility, and the ability to avoid paying out over five million dollars that they owed to the company's loyal retirees.

This is just the top of iceberg. Produced in Germany, where the story first originated, Panama Papers: The Shady World of Offshore Companies also exposes ties to Vladimir Putin and British Prime Minister David Cameron. The film shows us the ease with which anyone of means can open their own offshore account, and calls for enhanced accountability for those who have indulged in tax evasion under the cloak of anonymity for far too long.

9 Comments / User Reviews

  1. Soeren

    Wow , according to these documents USA are down right saints compared to the rest of us, who would have thought this. I have no doubt that much of this information is true, but it has been leaked strategicly to work as propaganda.... When someone controls this leakage so much, then it none of it matters... I creates hatred towards countries like Russia, while our own money and power-men go free and hide behind the chaos that has been stirred up

  2. Squito

    Until these vermin get to experience real, true justice... And have to serve real time in a real prison (not one of those "white collar criminal" resorts) will any of this be abated. Why should they stop? They don't face punishment, but are often rewarded with obscene bonuses and promotions. 'Job well done.' Make them see and feel how the 99.9% rest of us are dealt consequences by the justice system, for far, far, far less in relatively insignificant indiscretions. Not talking about murder or other violent crimes. But the shoplifters, the lightweight thieves, etc. None of which we want to be victim to, but let the punishment fit the crime, across the gilded board. The citizens of the world don't misinterpret the immense injustice of this sickening, preferential treatment of the world's elite and their blatant crimes. Sooner or later, there will be justice. It won't be pretty or gentle.

  3. bob

    @ Soeren... USA aren't saints, they just don't use Panama... USA uses the Cayman Islands. Various major news outlets reported this.

  4. Roy

    The pure arrogance of all governments and that they think they are due money from all. Governments are nothing more than organized crime syndicates extorting money through force. I would hide my money too, if I had any.

  5. P. Ming-Burns

    It doesn't matter how much money one may amass during their lifetime. They will not/cannot take any of it with them in their coffins.

  6. Glen

    The British control most of the tax dodger site ,,,but will do nothing to stop this..

  7. baalmenon

    who is & what is right. Amassing illegal wealth or hiding it

  8. Anne

    What does it profit a man to gain the whole world and lose his soul. Greed and coveteousness knows no end.

  9. Leslie

    It would not surprise me if Americans were not involved. We have the uncanny ability to suppress the 'whole' truth in many arenas. It may be only in the Cayman Islands as one gentleman expressed above, but I/we have been lied to so much, that known liars can't be fully trusted.

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