The Panama Papers are a huge trove of high confidential documents stolen from the computer systems of the Panamanian law firm Mossack Fonseca that was leaked online . It is considered the largest data leaks ever, the entire archive contains more than 11.5 Million files including 2.6 Terabytes of data related the activities of offshore shell companies used by the most powerful people around the world. This is the largest journalistic collaboration on record, with 370 reporters from 109 media outlets working in more than 25 languages, in 76 countries.
Law 32 regulates corporations and establishes the procedure to be followed to create them.
In 1977, Jürgen Mossack and Ramon Fonseca Mora establish their law firm.
Mossack-Fonseca opened a law firm in the British Islands.
Mossack-Fonseca contributed to the Island of Niue to create legislation that would facilitate the creation of offshore companies.
If the lawyer does not comply with the measures to know the client, he/she will be sanctioned. Mossack-Fonseca Law Firm knew they were not following this policy.
In Brazil, what began as a money-laundry investigation of a small car wash, called Lava Jato that uncovered corruption at the highest levels of Brazil's government including a construction company called Odebrecht, which offered money in exchange of millionaires contracts from a state-owned oil company called Petrobras.
In 2015, an anonymous whistleblower calling himself "John Doe" contacted the German newspaper Süddeutsche Zeitung (SZ) and leaked more than 2.6 TB of confidential information to two of its journalists.
Mossack Fonseca filed a complaint on March 10, 2016 before the Superior Prosecutor's Office of Intellectual Property alleging that they had been victims of an improper intrusion in the computer system inside their offices.
In April 2016, the International Consortium of Investigative Journalists and more than 100 media partners published hundreds of stories based on the leak of millions of internal documents that exposed the inner workings of the law firm from the late 1970s through 2015. The "Panama Papers" investigation convulsed the worlds of politics, finance and law. It is considered the largest data leaks ever, the entire archive contains more than 11.5 Million files including 2.6 Terabytes of data related the activities of offshore shell companies used by the most powerful people around the world. This is the largest journalistic collaboration on record, with 370 reporters from 109 media outlets working in more than 25 languages, in 76 countries. Police raided Mossack Fonseca offices in El Salvador, Peru and Panama City. By the end of 2016, governments and companies in 79 countries had opened 150 inquiries, audits or investigations related to the law firm, its intermediaries or clients. After the "Panama Papers" investigation began, and then as the firm scrambled to identify its clients and clients began to distance themselves. Later the firm collapsed.
In 2016, an investigation began in Panama, as a result of the Lava Jato investigation in Brazil, where a judge pointed out that the law firm Mossack Fonseca provided services for the creation of offshore companies and had knowledge that they were used for money laundering.
France has decided to add Panama back on the list of uncooperative countries with all of the consequences that that will have for those who have dealings with Panama.
An employee of the law firm Mossack Fonseca in Switzerland was arrested.
The law firm Mossack Fonseca announced March 14, that it will close its offices to clients in Panama and the world at the end of the month.
Since 2019, Panama punishes tax evasion of more than US$300,000 per year with imprisonment.
Netflix announces the release of its next movie titled: The Laudromat.
The Pandora Papers are 11.9 million leaked documents with 2.9 terabytes of data that the International Consortium of Investigative Journalists (ICIJ) published beginning on 3 October 2021
Hearing of Panama Papers
April 9th, both founders of Mossack Fonseca pleaded not guilty in the case following crimes against economic order.
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