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News > Latin America

The Latest: New Panama Papers Embroil Latin American Elite

  • The company logo of Mossack Fonseca is seen inside the office of Mossack Fonseca in Hong Kong, China, April 5, 2016

    The company logo of Mossack Fonseca is seen inside the office of Mossack Fonseca in Hong Kong, China, April 5, 2016

Published 10 May 2016
Opinion

Stay in the loop by following teleSUR's coverage of the massive Panama Papers leak.

The International Consortium of Investigative Journalists has released a searchable database featuring over 320,000 offshore entities part of the Panama Papers investigation.

What We Know So Far

- The Panama Papers are a massive and historic leak of confidential documents that reveal how the rich and powerful from many countries around the globe use tax havens to hide their wealth.

IN DEPTH:
The Panama Papers

- The documents show how a law firm based in Panama City, Mossack Fonseca, helped clients over four decades launder huge amounts of money and avoid taxes, while evading any legal action.

- The leak involves about 11.5 million documents that would take one person 27 years to read.

- The three biggest tax havens around the world are: Hong Kong, British Virgin Islands and Panama.

- About 140 high-level officials and millionaires, and about 113,000 shell companies are exposed in the documents, including at least 12 current or former heads of state, including Argentina's president, Mauricio Macri. While Eduardo Cunha, leader of the impeachment process against President Dilma Rousseff was linked to bribes from offshore sources involved in Brazil's Petrobas scandal.

- For more information on Latin American figures implicated in the Panama Papers scandal click here.

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