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The Panama Papers: Victims of Offshore

The International Consortium of Investigative Journalism (ICIJ) has released the victims of the offshore accounts. It already explained the offshore holdings of a huge number of present and former world leaders, also businessmen, celebrities, criminals and sports stars.

However, ICIJ has also released a video which shows the “victims of the Panama Papers”.

It was revealed about how law firm Mossack Fonseca assisted clients to save money via off-shore tax havens.

  • Syrian people

Companies which used the Panamanian firm’s services were also alleged of providing fuel to the Syrian air force. The UK and US declared these businesses banned in year 2014 however, Mossack Fonseca continued to work with them.

  • Russian children

A reported ring leader of a child sex slave gang of Russia was also said to be a client of Mossack Fonseca, as per reported by International Consortium of Investigative Journalism. When the law firm found he was a paedophile, it noted that it was not required formally to report his offshore dealings.

  • Ugandan citizens

A company which wished to sell a prospective oil field allegedly paid Mossack Fonseca to assist it in avoiding dollar 400 million in taxes in Uganda. According to reports that is even more than national health budget of African country.

The law reportedly did this by simply altering that company’s offshore accounts.

[The article was originally posted on Metro.co.uk]

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