Using Nuix, Süddeutsche Zeitung reporters performed optical character recognition (OCR) processing on the millions of scanned documents, making the data they contained become both searchable and machine-readable. Most project reporters then used Neo4J and Linkurious[60] to extract individual and corporate names from the documents for analysis, but some who had access to Nuix used it for this as well.[62] Reporters then cross-referenced the compiled lists of people against the processed documents,[52] then analyzed the information, trying to connect people, roles, monetary flow, and structure legality.[52]
The end of the encomienda system in Azuero, however, sparked the conquest of Veraguas in that same year. Under the leadership of Francisco Vázquez, the region of Veraguas passed into Castilian rule in 1558. In the newly conquered region, the old system of encomienda was imposed. On the other hand, the Panamanian movement for independence can be indirectly attributed to the abolition of the encomienda system in the Azuero Peninsula, set forth by the Spanish Crown, in 1558 because of repeated protests by locals against the mistreatment of the native population. In its stead, a system of medium and smaller-sized landownership was promoted, thus taking away the power from the large landowners and into the hands of medium and small-sized proprietors.
Basketball is also popular in Panama. There are regional teams as well as a squad that competes internationally. Two of Panama's prominent basketball players are Rolando Blackman, a four-time NBA All-Star, and Kevin Daley, a 10-year captain and showman of the Harlem Globetrotters. Other remarkable players who represented Panama internationally are Mario Butler, and Rolando Frazer.
ICIJ partner Ouestaf.com was able to establish through the Panama Papers the existence of secret contracts between and DP World FZE (DP)and Mamadou Pouye, the bribery codefendant of Karim Wade, son of former prime minister Abdoulaye Wade. This information was not available at their trial; Ouestaf confirmed their financial ties to the corporation for the first time during the Panama Papers investigation.[20] Wade was sentenced in 2015 to a six-year prison term by the Cour de répression de l'enrichissement illicite (Crei), a specialized anti-corruption court.[20] Wade was accused of illegally amassing assets of more than $240 million; and his childhood friend Pouye was sentenced to five years for allegedly helping him.[20] Both denied wrongdoing and the United Nations and Amnesty International said their rights had been violated at trial.[471] Ouestaf's investigation did not address the legality of their trial. It did conclude that they had succeeded in tracing a payment to Pouye's oversea shell company from a subsidiary of DP.
Excellent deep water ports capable of accommodating large VLCC (Very Large Crude Oil Carriers) are located at Charco Azul, Chiriquí (Pacific) and Chiriquí Grande, Bocas del Toro (Atlantic) near Panama's western border with Costa Rica. The Trans-Panama pipeline, running 131 kilometres (81 miles) across the isthmus, has operated between Charco Azul and Chiriquí Grande since 1979.[50]
The urban population, many living below the poverty level, was greatly affected by the 1989 intervention. As pointed out in 1995 by a UN Technical Assistance Mission to Panama, the bombardments during the invasion displaced 20,000 people. The most heavily affected district was impoverished El Chorrillo, where several blocks of apartments were completely destroyed. El Chorrillo had been built in the days of Canal construction, a series of wooden barracks which easily caught fire under the United States attack.[40][41][42] The economic damage caused by the intervention has been estimated between 1.5 and 2 billion dollars. n.p.[32] Most Panamanians supported the intervention.[34][43]
Panamá is located between the Pacific Ocean and tropical rain forest in the northern part of Panama. The Parque Natural Metropolitano (Metropolitan Nature Park), stretching from Panama City along the Panama Canal, has unique bird species and other animals, such as tapir, puma, and caimans. At the Pacific entrance of the canal is the Centro de Exhibiciones Marinas (Marine Exhibitions Center), a research center for those interested in tropical marine life and ecology, managed by the Smithsonian Tropical Research Institute.
Panama City is a city and the county seat of Bay County, Florida, United States. Located along U.S. Route 98, it is the largest city between Tallahassee, Florida and Pensacola, Florida. It is the larger (population-wise) of two principal cities of the Panama City-Lynn Haven, Florida Metropolitan Statistical Area. As of the 2010 census, the city population was 36,484. When Panama City was incorporated in 1909, its original city limits were 15th Street (Hwy 98) on the north, Balboa Avenue on the west and Bay Avenue on the east.[citation needed]
Steinmetz, who has a personal fortune of $6 billion, supplies diamonds to Tiffany and DeBeers and is Sierra Leone's largest private investor. Yet, according to a detailed report in The Namibian, his Octea subsidiary owes, among other debts, property taxes of $700,000 to the city of Koidu. These unpaid taxes are discounted, according to mayor Saa Emerson Lamina, because Octea promised a 5% profit−sharing agreement, and payment 1% of its annual profit to a community development fund, but it did not do this either.[18]
In Panama, nature is all about discovery. Explore the ruins of Spanish forts on the Caribbean coast or boat deep into indigenous territories in a dugout canoe. Wildlife is incidental: a resplendent quetzal on the highland trail, an unruly troupe of screeching howler monkeys outside your cabin or a breaching whale that turns your ferry ride into an adrenaline-filled event. Adventure tourism means zipping through rainforest canopies, swimming alongside sea turtles or trekking to sublime cloud-forest vistas. One small tropical country with two long coasts makes for a pretty big playground.
In a 2015 declaration of assets, dated February 8 and submitted to the Maltese Parliament at the end of March 2016, which Muscat said he'd been shown in draft form before the Panama Papers were leaked, Mizzi listed the trust in New Zealand and the shell company in Panama.[223] As of April 28, 2016 a report on the matter commissioned by the Government of Malta by an unnamed international audit firm was still pending. On April 28, 2016 Muscat announced a cabinet reshuffle; Mizzi lost his ministerial portfolio of Health and Energy, but was retained as a minister without portfolio in the Office of the Prime Minister.[224][225][226]

Panamá is located between the Pacific Ocean and tropical rain forest in the northern part of Panama. The Parque Natural Metropolitano (Metropolitan Nature Park), stretching from Panama City along the Panama Canal, has unique bird species and other animals, such as tapir, puma, and caimans. At the Pacific entrance of the canal is the Centro de Exhibiciones Marinas (Marine Exhibitions Center), a research center for those interested in tropical marine life and ecology, managed by the Smithsonian Tropical Research Institute.
Khulubuse Zuma, nephew of South African President Jacob Zuma, has links in the documents to an offshore company with oil interests in the Democratic Republic of the Congo. He has denied any wrongdoing.[441] According to leaked documents President Zuma also has ties to an oil mining deal between a British Virgin Islands-based oil company, Caprikat Limited, and Joseph Kabila, President of the Democratic Republic of Congo (DRC), and helped Caprikat obtain oil fields in the DRC then sent his nephew to the DRC to run the firm.[442]
The terminal ports located at each end of the Panama Canal, namely the Port of Cristóbal, Colón and the Port of Balboa, are ranked second and third respectively in Latin America in terms of numbers of containers units (TEU) handled.[48] The Port of Balboa covers 182 hectares and contains four berths for containers and two multi-purpose berths. In total, the berths are over 2,400 metres (7,900 feet) long with alongside depth of 15 metres (49 feet). The Port of Balboa has 18 super post-Panamax and Panamax quay cranes and 44 gantry cranes. The Port of Balboa also contains 2,100 square metres (23,000 square feet) of warehouse space.[49]
WikiLeaks spokesperson Kristinn Hrafnsson, an Icelandic investigative journalist who worked on Cablegate in 2010, said withholding some documents for a time does maximise the leak's impact, but called for full online publication of the Panama Papers eventually.[80] A tweet from WikiLeaks criticized the decision of the ICIJ to not release everything for ethical reasons: "If you censor more than 99% of the documents you are engaged in 1% journalism by definition."[81]

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.[256] 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.
Due to its location on the Gulf Coast, the city is susceptible to tropical cyclones. In 2018, Panama City was directly hit by Hurricane Michael, which caused catastrophic damage to the city and surrounding communities, with winds of 160 mph (260 km/h) at landfall. The city previously suffered significant indirect impacts from Hurricane Ivan (2004) and Hurricane Opal (1995).
Tyndall Air Force Base is east of the city. The HHT 1-153 CAV is stationed there. It is part of Florida Army National Guard's 53rd Infantry Brigade. The city is also home to the U.S. Navy's Naval Support Activity Panama City which is home to various research and training projects. The city is also 60-90 minutes south of Fort Rucker, Alabama, home to the US Army's Aviation Center of Excellence.
In Panama, nature is all about discovery. Explore the ruins of Spanish forts on the Caribbean coast or boat deep into indigenous territories in a dugout canoe. Wildlife is incidental: a resplendent quetzal on the highland trail, an unruly troupe of screeching howler monkeys outside your cabin or a breaching whale that turns your ferry ride into an adrenaline-filled event. Adventure tourism means zipping through rainforest canopies, swimming alongside sea turtles or trekking to sublime cloud-forest vistas. One small tropical country with two long coasts makes for a pretty big playground.

Panama's old quarter (or Casco Viejo, Panama) features many architectural styles, from Spanish colonial buildings to French and Antillean townhouses built during the construction of the Panama Canal.[10] The more modern areas of the city have many high-rise buildings, which together form a very dense skyline. There are more than 110 high-rise projects under construction, with 127 already built.[11] The city holds the 45th place in the world by high-rise buildings count.[12]
Prominent politicians criticized the involvement of the Cameron family in the scandal; Leader of the Opposition Jeremy Corbyn urged an immediate independent investigation into the tax affairs of Cameron's family as well as tighter laws on UK tax avoidance.[323] Opponents also called for Cameron's resignation after he admitted owning shares in Blairmore.[324]
Mounir Majidi, personal secretary of King Mohammed VI was designated in March 2006 as the representative of SMCD Limited created in 2005 through Geneva financial advisor Dextima Conseils. According to the ICIJ, through SMCD Majidi bought the "Aquarius W", a 1930s-era luxury sailboat, which was then registered in Morocco as "El Boughaz", belonging to the king. SMCD, according to the ICIJ, also made a loan to a Luxembourg company, Logimed Investissements Co SARL, for which details are not available. Following this loan, SMCD was liquidated in 2013.[462]

David Sutton was director of AAT Corporation and EHG Corporation when they held mineral licenses in North Korea and did business with Korean Natural Resources Development and Investment Corporation, which is under United Nations sanctions, and North Korea's "primary arms dealer and main exporter of goods and equipment related to ballistic missiles and conventional weapons, responsible for approximately half of the arms exported by North Korea."[489] The geologist, Louis Schurmann, said British billionaire Kevin Leech was key to putting the deal together.[489] Leaked documents also reveal the involvement of another Briton, Gibraltar-based John Lister.[489] According to ABC, the Department of Foreign Affairs and Trade was aware of these mining deals, which had also been brought up in the Australian Senate, but nobody ever referred the matter to the Australian Federal Police.[489]

Tourism in Panama is rapidly growing.[citation needed] It has maintained its growth over the past five years due to government tax and price discounts to foreign guests and retirees. These economic incentives have caused Panama to be regarded as a relatively good place to retire.[citation needed] Real estate developers in Panama have increased the number of tourism destinations in the past five years because of interest in these visitor incentives.[65]
Bollywood celebrities Amitabh Bachchan, his daughter-in-law and actress Aishwarya Rai Bachchan and actor Ajay Devgan are listed in the papers.[350] Bachchan has denied any connection to overseas companies, and a spokesman for Rai also questioned the documents' authenticity.[351] Bachchan repeated the denial in response to an August 21 report that he was listed as a director of two companies and participated in board meetings.[352]
In theory American[448] and European[451] buyers of gold in Africa are required to review their supply chain and report any use of conflict resources, such as gold from eastern Congo. In practice the requirement is widely ignored, and an investigation by African Network of Centers for Investigative Reporting (ANCIR) found examples in the leaked Mossack Fonseca documents of anonymous shell companies doing the sourcing. For a start, most of the DRC gold winds up in Dubai by way of Uganda. Dubai's $75 billion gold industry is regulated with a very light hand by the quasi-private Dubai Multi Commodities Centre (DMCC).[449]

King Salman is mentioned in the leaks in relation to two companies based in the British Virgin Islands—Verse Development Corporation, incorporated in 1999, and Inrow Corporation, incorporated in 2002. The companies took out mortgages totaling over US$34 million and purchased properties in central London.[376] His role in the companies was not specified. BVI company Crassus Limited, incorporated in 2004, registered a yacht in London, named Erga after King Salman's palace in Riyadh. The vessel boasts a banquet hall and can comfortably sleep 30.[292] King Salman is described in the documents as its "principal user".[377]
Ouestaf, an ICIJ partner in the investigation, reported that it had discovered new evidence that Karim Wade received payments from DP World (DP). He and a long-time friend were convicted of this in a trial that the United Nations and Amnesty International said was unfair and violated the defendants' rights. The Ouestaf article does not address the conduct of the trial, but does say that Ouestaf journalists found Mossack Fonseca documents showing payments to Wade via a DP subsidiary and a shell company registered to the friend.[20]
Other uses are more ambiguous. Chinese companies may incorporate offshore in order to raise foreign capital, normally against the law in China.[28] In some of the world's hereditary dictatorships, the law may be on the side of the elite who use offshore companies to award oil contracts to themselves,[29] or gold concessions to their children,[30] however such dealings are sometimes prosecuted under international law.[31]

The city of Panama was founded on August 15, 1519, by Spanish conquistador Pedro Arias Dávila. The city was the starting point for expeditions that conquered the Inca Empire in Peru. It was a stopover point on one of the most important trade routes in the American continent, leading to the fairs of Nombre de Dios and Portobelo, through which passed most of the gold and silver that Spain took from the Americas.
As of the census of 2010, there were 36,484 people, 14,819 households, and 9,039 families residing in the city. The population density was 1,246.0/per square mile . There were 17,438 housing units at an average density of 530.7 per square mile (204.9/km2). The racial makeup of the city was 71.6% White, 22.0% African American, 0.5% Native American, 1.6% Asian, 0.1 Native Hawaiian and 2.9% from two or more races. Hispanic or Latino of any race were 5.1% of the population.
President of the Nigerian Senate Bukola Saraki was found, through the Panama Papers leak, to have ties to at least four offshore companies he failed to declare to the Code of Conduct Bureau as Nigerian law requires.[463] His wife Toyin also had shell companies listed in her name in the Mossack Fonseca documents:[463] Girol Properties Ltd, Sandon Development Limited and *Landfield International Developments Ltd. Saraki has said that the assets in these holding companies belong to his wife's family and therefore he was not required to report them. ANCIR dismisses this because:
I also did not appreciate the cheap emotional appeals introduced in the movie from the very beginning, on which faces of ordinary people from around the world are shown, intersped with images of global wealth inequality, and with a voiceover of the manifest of "John Doe" - the leaker of the Panama Papers - describing his motivations. Some of these images are meant to tug at your heartstrings, but they extend for too long, and detract from the actual figures involved in the Papers. In some cases I found them downright misleading and manipulative, like at the very beginning, while an Argentinian journalist is talking and describes inequality in her country as one of her motivations in working as an investigative journalist, the movie shows us images of favelas in Sao Pablo, Brazil, without saying where the photos are from. (Maybe Buenos Aires was too "pretty" for the emotional appeal they were trying to convey?). I found this, describing a country while showing another, a form of emotional manipulation and it put me off the movie from the very beginning. This was also more wasted time that could have been used in doing actual journalism and informing the public on how these financial operations were carried out.
The end of the encomienda system in Azuero, however, sparked the conquest of Veraguas in that same year. Under the leadership of Francisco Vázquez, the region of Veraguas passed into Castilian rule in 1558. In the newly conquered region, the old system of encomienda was imposed. On the other hand, the Panamanian movement for independence can be indirectly attributed to the abolition of the encomienda system in the Azuero Peninsula, set forth by the Spanish Crown, in 1558 because of repeated protests by locals against the mistreatment of the native population. In its stead, a system of medium and smaller-sized landownership was promoted, thus taking away the power from the large landowners and into the hands of medium and small-sized proprietors.
"This is a unique opportunity to test the effectiveness of leaktivism", said Micah White, co-founder of Occupy, "... the Panama Papers are being dissected via an unprecedented collaboration between hundreds of highly credible international journalists who have been working secretly for a year. This is the global professionalization of leaktivism. The days of WikiLeaks amateurism are over."[79]

Rami Makhlouf, a maternal cousin of Bashar Al-Assad, was worth an estimated $5 billion before the Syrian Civil War, and had control of 60% of the economy. He was subject to sanctions by the United States and the European Union, and controlled Syria's oil and telecommunications business.[383] The US Treasury charged that Pangates, a company registered to him, supplied the Assad government with a thousand tonnes of aviation fuel.[384] However, the Makhloufs were able to continue to operate via Panama shell companies,[103] registered in the British Virgin Islands, and so not subject to US law – however, on May 9, 2011, the EU issued its own sanctions, and these were extended by an order in council to the British Virgin Islands in July 2011.[385] Mossack Fonseca decided September 6 to resign from Makhlouf's companies. By then, Makhlouf had already cut ties with his bank. HSBC told the law firm that the Swiss authorities had frozen Makhlouf's accounts, and that "they have had no contact with the beneficial owner of this company since the last 3 months".[385]
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.[256] 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.

Central Bank of Cyprus officially declared: "With regard to press reports citing leaked documents, known as the Panama Papers, the Central Bank of Cyprus announces that it is assessing the information to the extent that it may concern the Cypriot banking system and taking, where necessary, appropriate action."[180] A Cypriot online paper said "The Cyprus link stems from the fact that Fonseca runs an office in Cyprus and, more specifically, in Limassol. In a chart, the leaks name Cyprus as a tax haven (countries that offer little or no tax), although it has a corporate tax rate of 12.5%, the same as Ireland."[180]
The Ministry of Economy and Finance of Panama, Dulcidio de la Guardia, formerly an offshore specialist at Mossack Fonseca competitor Morgan & Morgan, said the legal but often "murky" niche of establishing offshore accounts, firms and trusts make up "less than half a percentage point" of Panama's GDP. He appeared to suggest that publication of the papers was an attack on Panama because of the high level of economic growth that the country had shown.[137]

Other uses are more ambiguous. Chinese companies may incorporate offshore in order to raise foreign capital, normally against the law in China.[28] In some of the world's hereditary dictatorships, the law may be on the side of the elite who use offshore companies to award oil contracts to themselves,[29] or gold concessions to their children,[30] however such dealings are sometimes prosecuted under international law.[31]


Former Sudanese President Ahmed al-Mirghani was a client of Mossack Fonseca also.[454] Al-Mirghani lived in Egypt after the 1989 coup that ended his presidency and was active in the Democratic Unionist Party.[454] Orange Star Corporation bought a long-term lease in a tony London neighborhood near Hyde Park for $600,000 the same year al-Mirghani created it, and at the time of his death held assets worth $2.72 million.[454]

On April 7, 2016, the Anti Corruption Commission Bangladesh launched an inquiry to obtain details of the businesses and individuals allegedly affiliated with Mossack Fonseca.[336] Allegations have been made against thirty-two Bangladeshi individuals and two corporations, however, media outlets staking this claim have referenced an old ICIJ database of information compiled during the investigation of the 2013 Offshore Leaks.[337]
HSBC also appeared to reassure Mossack Fonseca not only that it was "comfortable" with Makhlouf as a client but suggested there could be a rapprochement with the Assad family by the US. Makhlouf is already known to be a long-standing client of HSBC's Swiss private bank, holding at least $15 million with it in multiple accounts in 2006.[103] The Panamanian files also show HSBC provided financial services to a Makhlouf company called Drex Technologies, which HSBC said was a company of "good standing".[103]
The US on the other hand refused to sign on to the Common Reporting Standard set up by the Organisation for Economic Co-operation and Development, alongside Vanuatu and Bahrain.[414] This means the US receives tax and asset information for American assets and income abroad, but does not share information about what happens in the United States with other countries, which in other words means that the United States has become attractive as a tax haven.
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