Little more than one year after the “Panama Papers” leak, the “Paradise Papers” are shedding light on who is investing huge amounts of money in offshore tax havens.
What are the so-called Paradise Papers?
The leak is a trove of 13.4 million files taken mostly from the offshore law firm Appleby.
The files were leaked to Suddeutsche Zeitung, the same German newspaper that took hold of the Panama Papers in April, 2016.
About 100 different media outlets worldwide are poring over the details.
“There’s a new global industry that caters to money that moves around the world,” Drew Sullivan, a journalist with the International Consortium of Investigative Journalists (ICIJ), told Al Jazeera. “This money moves through tax havens and it’s moved to evade taxes to hide assets, to steal money.
“It’s used by organised crime, it’s used by large businesses”
What has been discovered so far?
Day one of the disclosures, Sunday, revealed that some big names are involved – …