Do You Know Panama Papers: The Most Controversial Black Money Scam Ever?

Let’s first explore about the Panama Papers

Black money issue is not a new problem and rich and powerful people around the world getting benefitted as official documents of a law firm leaked that helping rich people to launder their black money and it is basically named as Panama Papers.

panama

You must have heard and read about the millions of dollars being tossed around of celebrities and politician and their black money rest safely in abroad in tax havens.

With this scam it seems right:

Here in Panama, Canary Islands, and the British Virgin Islands which is also called as tax havens, here rich and the powerful people have invested and set up fake offshore companies. 

Now these companies are form to make the black money white so that celebrities and politician can save tax.

They utilize attorney firms in these nations that offer them some assistance with evading whatever the loose charge laws there are.

Mossack Fonseca from Panama is one of the major firm.

Newspapers have played major role in exposing this scam:

11 million documents from Mossack Fonseca have been discovered by the newspaper and it is one of the best works so far by investigative journalism.

To put it into perspective is 11,000,000 documents the newspapers have investigated 11 million documents.

The Indian Express is one of the major newspapers of India that collaborated with the International Consortium of Investigative Journalism.

It was long investigation where The ICIJ spent more than 8 months in investigating to uncover and reveal this scam.

Big shorts that have involvement in this

As the investigation is proceeding many names are coming in limelight

Vladimir Putin, Nawaz Sharif, relatives of Xi Jinping, late father of David Cameron is few names that are in the list of usual suspects.

Involvement of politicians in such scams is not a shock to the world!

The other names like Amitabh Bachchan, Aishwarya Bachchan, Lionel Messi are making headlines.

There are few other names also involved in the scam such as Apollo Tyres, Indiabulls, Gautam Adani’s brother Vinod Adani and DLF owner K P Singh.

To your surprise there is money involved of people who are living in slum of Mumbai. They have huge amount of money in Panama.

Don’t be shocked. But it is true that slum people are also involved in Panama controversy.

The controversy is more severe than it appears:

You must know that it is might a small part of the controversy that has been highlighted by The Indian Express.

Now we are fully involved to get more information on this scam.

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Manoj Mehra, a blogger and co-founder of Blazed Story, He always trIES to share top 10 listS for India and worldwide to increasE THE knowledge of internet users.

2 Comments

  1. Simranjeet

    May 6, 2016 at 8:15 pm

    Indian government, just like other governments, is at fault. Thats not what good governance is. Indian government – irrespective of any particular party – have poor task force to stop this sort of illegal activity. – https://www.linkedin.com/pulse/article/panama-papers-avoidable-simranjeet-singh-lawyer-in-chandigarh/

  2. LannieJStumm

    August 29, 2016 at 6:45 pm

    Hello everybody, here every one is sharing such knowledge, so it’s nice to read this weblog, and I used to go to see this blog all the time.

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