Former IMF president Rodrigo Rato, vice-president in the conservative government of prime minister José María Aznar, had more than €3.6 million in two offshore companies. He has been charged by Spain with alleged tax offenses, money laundering and corruption among individuals in other cases of corruption. Micaela Domecq-Solís, the wife of Miguel Arias Cañete, currently the European Commissioner for Climate Action and Energy and formerly the EU Minister of Agriculture, Food and Environment, also opened shell societies.
Top bankers and Spanish businessmen used this firm to open accounts and companies: Miguel Blesa, president of Caja Madrid, tried in Spanish courts for numerous cases of corruption, Jesus Barderas, a businessman close to ex-prime minister Felipe González, children of the lawyer Javier de la Rosa, who also is linked to corruption cases, Carlos Ortega, CEO of Pepe Jeans, and families with major hotel chains such as the Riu (RIU Hotels & Resorts), the Escarrer (Meliá Hotels International) and the Martinón (Group Martinón).
Indian politicians on the list include Shishir Bajoria from West Bengal and Anurag Kejriwal, former chief of the Delhi Lok Satta Party. Bajoria said he owned two other Isle of Man companies but not the one ascribed to him in the leaked documents. Corporate services provider First Names Group acknowledged erroneously providing his information to Mossack Fonseca. MF records show Kejriwal as director of three offshore companies based in the British Virgin Islands (BVI), and holding two private foundations in Panama and power of attorney of another BVI company. He acknowledged having had offshore companies but said he shut them down after a short period of time.
Perez Balladares ran as the candidate for a three-party coalition dominated by the Democratic Revolutionary Party (PRD), the erstwhile political arm of military dictatorships. Perez Balladares worked skillfully during the campaign to rehabilitate the PRD's image, emphasizing the party's populist Torrijos roots rather than its association with Noriega. He won the election with only 33 percent of the vote when the major non-PRD forces splintered into competing factions. His administration carried out economic reforms and often worked closely with the US on implementation of the Canal treaties.
A central spine of mountain ranges extends almost the entire length of Panama, dividing the country into Atlantic- and Pacific-facing slopes. The two principal ranges, the Tabasará Mountains (Cordillera Central) in the west and the Cordillera de San Blas in the east, are separated near the centre of the country by a saddle of lower land. This depression (the Panama Canal site) divides the country again—roughly into western and eastern halves. Of the four quadrants thus formed, the southwestern has the largest number of settlements; however, the environs of the canal account for most of Panama’s population and commerce. The country’s highest peak is an inactive volcano, Barú (Chiriquí), which reaches an elevation of 11,401 feet (3,475 metres).
Canadians for Tax Fairness had calculated that legal tax avoidance by corporations alone cost the Canadian treasury almost $8 billion Canadian a year. When it calculated the 2015 numbers, they found that corporations and individuals combined sent CAN$40 billion of declared assets to tax havens, and the ten most popular alone now held $270 billion Canadian in assets.
An example of undisturbed, unique culture in Panama is that of the Guna who are known for molas. Mola is the Guna word for blouse, but the term mola has come to mean the elaborate embroidered panels made by Guna women, that make up the front and back of a Guna woman's blouse. They are several layers of cloth, varying in color, that are loosely stitched together, made using a reverse appliqué process.
Meanwhile, Noriega's regime had fostered a well-hidden criminal economy that operated as a parallel source of income for the military and their allies, providing revenues from drugs and money laundering. Toward the end of the military dictatorship, a new wave of Chinese migrants arrived on the isthmus in the hope of migrating to the United States. The smuggling of Chinese became an enormous business, with revenues of up to 200 million dollars for Noriega's regime (see Mon 167).
The Panama Papers revealed that the Minister of Finance of Andorra, Jordi Cinca, while he was CEO of Orfund SA, maintained an offshore company called Mariette Holdings Inc, until its dissolution in 2002 for fear of discovery of his participation in these businesses. The business activities of Orfund had ties to the blood diamond trade, and the refining and sale of African gold. This company closed shortly before the civil war in Ivory Coast.
One of the newer tourist areas of the city is the area immediately east of the Pacific entrance of the canal, known as the Amador Causeway. This area is currently being developed as a tourist center and nightlife destination. The Smithsonian Tropical Research Institute operates a station and a small museum open to the public at Culebra Point on the island of Naos. A new museum, the Biomuseo, was recently completed on the causeway in 2014. It was designed by the American architect Frank Gehry, famous for the Guggenheim Museum Bilbao and the Disney Concert Hall in Los Angeles. Just outside the city limits is the Parque Municipal Summit. A new convention center called the Amador Convention Center is being built in Amador by CSCEC in a joint venture with a Panamanian company called CCG Cocige. The Panamanian ministry of Tourism hopes for the convention center to house 100 international events annually. There were plans(proposed by Panamanian president Juan Carlos Varela) to build in Amador a campus for the embassy of the People's Republic of China in Panama, however the plans were eventually dropped, due to criticism from the general public and fears that tourists could easily assume that Panama was Chinese territory. Varela in response said that Amador is an area that "must have more value".
New York's Department of Financial Services has asked 13 foreign banks, including Deutsche Bank AG, Credit Suisse Group AG, Commerzbank AG, ABN Amro Group NV and Societe Generale SA, for information about their dealings with Mossack Fonseca. The banks are not accused of wrongdoing but must provide telephone logs and records of other transactions between their New York branches and the law firm.
^ Jump up to: a b Золото партитуры [Gold of the score]. Novaya Gazeta (in Russian). Moscow. April 3, 2016. Archived from the original on April 6, 2016. Retrieved April 6, 2016. Gold sheet music – Why Sergei Roldugin, a close friend of Vladimir Putin, may be deemed to be not only a virtuoso musician, but also the owner of shady offshore Empire with assets in the billions of dollars
Because of incomplete Spanish control, the Panama route was vulnerable to attack from pirates (mostly Dutch and English), and from "new world" Africans called cimarrons who had freed themselves from enslavement and lived in communes or palenques around the Camino Real in Panama's Interior, and on some of the islands off Panama's Pacific coast. One such famous community amounted to a small kingdom under Bayano, which emerged in the 1552 to 1558. Sir Francis Drake's famous raids on Panama in 1572–73 and John Oxenham's crossing to the Pacific Ocean were aided by Panama cimarrons, and Spanish authorities were only able to bring them under control by making an alliance with them that guaranteed their freedom in exchange for military support in 1582.
Newspaper Inkyfada had access to the documents and reported a dozen politicians, former government officials and lawyers had been implicated, as well as a leading media figure. Monday April 4, 2016 it reported that the former secretary-general of the Nidaa Tounes political party, Mohsen Marzouk, who was also the coordinator of the new political party, Machrouu Tounes, was on the point of creating his own account in December 2014, in the first presidential elections. Marzouk had written Mossack Fonseca about a company in the Virgin Islands, emphasizing a desire to hold funds and conduct business overseas. Marzouk denies this and has filed a defamation complaint.
Panama is bounded to the north by the Caribbean Sea (an extension of the Atlantic Ocean) and to the south by the Pacific Ocean. It has an elongated S shape, with its Caribbean coastline stretching some 800 miles (1,290 km) and the Pacific coast some 1,060 miles (1,700 km); however, a line drawn from the Costa Rican frontier in the west to the Colombian border in the east would extend only 480 miles (770 km). The shortest distance across the isthmus is about 30 miles (50 km), from the mouth of the Nergalá (Necategua) River, which flows into the Gulf of San Blas on the Caribbean shore, to the mouth of the Chepo River on the Pacific coast. Nearly as narrow is the portion of the isthmus traversed by the Panama Canal.
In 2018, investigative media Bivol.bg accessed the Panama Papers under an agreement with the International Consortium of Investigative Journalists. Later, they published a story about the offshore company Viafot which is attempting to acquire a key asset of Bulgaria's defense industry: the arms producer Dunarit. The Panama Papers show that Viafot is owned by Alexander Angelov who is the lawyer of media mogul Delyan Peevski. Other Bulgarian media had reported how all state institutions help Viafot acquire Dunarit through illegitimate means. However, no inquiry was opened by Bulgaria's General Prosecutor Sotir Tsatsarov.
For expats from the U.S., Panama is also convenient because the currency is the U.S. dollar. No matter where you’re from, you’re likely to appreciate the fact that there are many English speakers in Panama, especially among the well-trained medical community. The hub that is Tocumen International Airport makes it easy to fly from Panama to nearly anywhere in the world…often with no layovers.
Anti-corruption group Transparency International believes that the "creation of businesses while serving as president is a direct violation of the constitution". Also, journalists from the Organized Crime and Corruption Reporting Project believe that with the move Poroshenko committed two other illegalities, starting a new business while in office and failing afterwards to report it on his disclosure statements. Poroshenko denied any wrongdoing and a spokesman said the offshore company had no active assets and was a legitimate corporate restructure aimed at helping to sell Poroshenko's Roshen group. Analysts in Ukraine responded that the secretive way Poroshenko set up these accounts was certain to undermine trust in him, his party and Ukraine itself.
Located at the tip of the Azuero Peninsula, Pedasi is a quaint unassuming beach town with a pristine downtown area. The expat community numbers several hundred within the total population of just under 5,000. This expat community is growing as visitors have discovered this treasured jewel. Not much further down the two-lane road is Playa Venao, one of Panama’s best surfing beaches.
The city has both public and private schools. Most of the private schools are at least bilingual. Higher education is headed by the two major public universities: the University of Panama and the Technological University of Panama. There are private universities, such as the Universidad Católica Santa María La Antigua, the Universidad Latina de Panama, the Universidad Latinoamericana de Ciencia y Tecnología (ULACIT), the Distance and Open University of Panama (UNADP), Universidad del Istmo Panama, the Universidad Maritima Internacional de Panama, and the Universidad Especializada de las Americas. Also, there are Panama Branches of the Nova Southeastern University (its main campus is in Ft. Lauderdale in Broward County, Florida); the University of Oklahoma; the Central Texas University; the University of Louisville which runs a sister campus in the city, and the Florida State University, which operates a broad curriculum program in an academic and technological park known as Ciudad del Saber.