Eight years ago, the media exposed a global financial scandal with the “Panama Papers.” A process has now begun in the Central American country. The defendants are accused of money laundering.
Eight years after the revelations of the “Panama Papers,” the first trial against 27 defendants has begun in Panama. The co-owner of the now liquidated Panamanian law firm Mossack Fonseca, the German-born lawyer Jürgen Mossack, also appeared in court in Panama City. This was seen during the live broadcast of the first day of the trial.
The defendants are accused of money laundering by setting up 215,000 shell companies in tax havens. Politicians, celebrities and athletes are said to have concealed their assets in it. “I am not responsible for such acts,” said Mossack after the indictment was read out. The process is scheduled to last three weeks.
11.5 million documents leaked
In the spring of 2016, among other things, NDR, WDR, the Süddeutsche Zeitung (SZ) and other media outlets from the Network of Investigative Journalists (ICIJ) disclosed the business of the shell companies founded in Panama. As a result of a huge data leak, 11.5 million documents were leaked to the SZ. Almost 400 journalists from more than 80 countries took part in the research.
Among other things, the names of 140 politicians and close confidants appeared. In Iceland, the publication led to the resignation of Prime Minister Sigmundur Gunnlaugsson. In Pakistan, Prime Minister Nawaz Sharif was removed from office.
The ICIJ received the highest honor in US journalism, the Pulitzer Prize, for the 2017 revelations. The research triggered tax investigations in many countries and subsequently led to additional tax revenue amounting to millions in Germany.