Monday, 4 April 2016

Panama Report: The accused respond to claims they hid billions offshore


Elected leaders and top officials from around the world are responding with denials and outrage to allegations that they used secret offshore companies and accounts to hide billions of dollars.
The media reports, based on a massive leak of documents, allege the existence of a clandestine network involving associates of Russian President Vladimir Putin, and business ties between a member of FIFA's ethics committee and men indicted for corruption.
The Kremlin has dismissed the allegations as "a series of fibs," while the FIFA official has described them as "ridiculous" and "outrageous." But some governments are acting on the information -- authorities in the U.K., Australia and Mexico have pledged to investigate for possible cases of tax evasion.
Several news organizations published reports Sunday into more than 11 million documents leaked from a law firm in Panama that allegedly helped set up secret shell companies and offshore accounts.
The documents go back decades and reference 12 current or former world leaders, as well as 128 other politicians and public officials, according to the International Consortium of Investigative Journalists, which carried out the yearlong investigation in cooperation with more than 100 different news organizations.








Source:CNNMoney

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