View Full Version : The Panama Papers: Secrets of the Super Rich

The One
16th April 2016, 18:57
The international news media have been preoccupied by a new financial scandal as of late. Their stories focus around the Panama Papers, a set of leaked documents which reveal the identities of over 200,000 companies, trusts, foundations, criminals, world leaders, and other figures of wealth and influence who keep great sums of their money hidden in offshore accounts. Calling upon the talents of highly skilled investigative journalists across the world, the new documentary The Panama Papers: Secrets of the Super Rich probes the contents of these documents in an effort to unravel a complex tapestry of suspicious financial activity.

These 11 million documents all originate from a single source: Mossack Fonseca, or MossFon for short, a Panamanian-based corporate law firm that provides convenient tax havens for the wealthiest entities across the globe. While some of their clients operate within the boundaries of the law and utilize the company's services for legitimate purposes, many others do not. Offenders include Rami Makhlouf, the richest man in Syria and a chief financial backer of the oppressive Assad regime, and Marlorry Chacon Rossell, a high-profile Guatemalan cocaine trafficker. Mobsters, money launderers, arms dealers, terrorist enablers and other wealthy criminals work with MossFon to set up dummy companies as a shelter from public scrutiny, allowing them to continue their operations without the fear of leaving a traceable money trail.

The realm of politics also plays a key role in the scandal. World leaders are counted among MossFon's most notable clientele, including the Prime Ministers of Iceland and Saudi Arabia. Others have relatives with close ties to the firm such as the father of British Prime Minster David Cameron. Inconveniently, Cameron is one of the leading figures in the fight against these questionable financial operations.

To what extent is MossFon aware of their client's criminal activities and motives, and at what point is the firm itself veering into illegality? That's one of the central points of contention explored in the documentary, and it's a dilemma that has few easy or concrete answers. Produced by ABC Australia, The Panama Papers: Secrets of the Super Rich mounts an ambitious investigation of awesome scope, and successfully scratches the surface of an intriguing scandal which will continue to develop for some time to come.


17th April 2016, 18:22
What is super rich ?
I don't know.
Let's say 50 Billion Dollars.
Those need no Panama Mossack Fonseca.

in Germany
Moos = nickname for Money
Sack = einsacken = to sack

The One
25th April 2016, 12:25
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.


25th April 2016, 14:43
If anyone ever wonder how they do it, here's how. :p Looks like things are coming out in the open now.