Panama Papers Expose Offshore Accounts of World Leaders

A massive document leak has exposed the offshore accounts and secret accounts of dozens of world leaders and their closest allies.

The documents, which has been dubbed the Panama Papers, reveal how powerful politicians and other wealthy people use offshore and secret accounts to launder money, and avoid taxes and sanctions.

The leaked documents come from a Panamanian law firm called Mossack Fonseca.

One of the biggest revelations included in the Panama Papers, is the fact that associates and allies of President Vladimir Putin of Russia have channeled as much as $2 billion through offshore accounts.

The documents also reveal the secret account ongoings of more than 140 politicians in more than 50 different countries.

Many prominent world leaders have been implicated in the documents, including Putin as well as the Syrian and Egyptian presidents.

More than 370 journalists from 107 news organizations were involved in a investigation that was ongoing for more than a year.

While most of the people implicated in the Panama Paper are somehow tied to politics or wealthy families in the different countries, other organizations are also implicated, including world football organization, FIFA.
The leak will have massive implications for both countries and their subsequent politicians as well as the organizations and of course individuals involved.