"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]
"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]
On April 15, 2016, José Manuel Soria was forced to leave his post as acting Minister of Industry, Energy and Tourism when the Panama Papers revealed that he and his family had maintained several offshore societies on tax havens during the previous decades.[253] Soria initially denied this, but reports kept leaking that contradicted him. On April 14, a company came to light that he had owned on Jersey until 2002, while mayor of Las Palmas. Soria was put in a critical political position as a result of his confusing and changing explanations on the issue, and resigned the next day.[254][255]
The firm won’t discuss specific cases of alleged wrongdoing, citing client confidentiality. But it robustly defends its conduct. Mossack Fonseca says it complies with anti-money-laundering laws and carries out thorough due diligence on all its clients. It says it regrets any misuse of its services and tries actively to prevent it. The firm says it cannot be blamed for failings by intermediaries, who include banks, law firms and accountants.
Diamond Ocean Enterprises, a Mossack Fonseca entity set up in 2005, reported its purpose as financial consulting to a Namibian diamond manufacturer and polisher.[209] According to the law firm's records, Deutsche Investment Consultants (Asia) Limited, a Mossack Fonseca company set up in the British Virgin Islands for the now-imprisoned Mafioso Vito Palazzolo by Wolf-Peter Berthold, a German banker based in Hong Kong, is a director of the firm. Its shareholders include Peter von Palace Kolbatschenko, Palazzolo's son, Berthold, and Giovanni Agusta.[209]
More than ever, Panama City is booming with events and activities. Make Panama City your destination and visit the many fine shops, restaurants and exhibits. Discover why Panama City is listed as one of the best art towns in America for Cities with a population of less than 50,000. Year-round events include: The Blessing of the Fleet, an Annual Independence Day Celebration, and Oktoberfest.
More than ever, Panama City is booming with events and activities. Make Panama City your destination and visit the many fine shops, restaurants and exhibits. Discover why Panama City is listed as one of the best art towns in America for Cities with a population of less than 50,000. Year-round events include: The Blessing of the Fleet, an Annual Independence Day Celebration, and Oktoberfest.

Canadians for Tax Fairness had calculated that legal tax avoidance by corporations alone cost the Canadian treasury almost $8 billion Canadian a year.[401] 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.[402]
Manhattan US Attorney Preet Bharara has opened a criminal investigation on matters related to the Panama Papers and sent a letter April 3 to the International Consortium of Investigative Journalists (ICIJ) saying his office "would greatly appreciate the opportunity to speak as soon as possible."[424] The ICIJ received many such requests from many countries and ICIJ Director Gerard Ryle has said its policy is not to turn over any materials.[425][426]
Since the end of Manuel Noriega's military dictatorship in 1989, Panama has successfully completed five peaceful transfers of power to opposing political factions. The political landscape is dominated by two major parties and many smaller parties, many of which are driven by individual leaders more than ideologies. Former President Martín Torrijos is the son of general Omar Torrijos. He succeeded Mireya Moscoso, the widow of Arnulfo Arias. Panama's most recent national elections occurred on May 4, 2014, with incumbent vice-President Juan Carlos Varela declared the victor. The 2019 Panamanian general election is scheduled for May 5, 2019, with current President Juan Carlos Varela being ineligible due to constitutional limits for a second term.
In 1744, Bishop Francisco Javier de Luna Victoria DeCastro established the College of San Ignacio de Loyola and on June 3, 1749, founded La Real y Pontificia Universidad de San Javier. By this time, however, Panama's importance and influence had become insignificant as Spain's power dwindled in Europe and advances in navigation technique increasingly permitted ships to round Cape Horn in order to reach the Pacific. While the Panama route was short it was also labor-intensive and expensive because of the loading and unloading and laden-down trek required to get from the one coast to the other.
Zillow helps you find the newest Panama City real estate listings. By analyzing information on thousands of single family homes for sale in Panama City, Florida  and across the United States, we calculate home values (Zestimates) and the Zillow Home Value Price Index for Panama City proper, its neighborhoods and surrounding areas. There are currently 1,029 for sale listings in Bay County FL zip codes, including condos, bank owned homes, short sales, townhomes, duplexes, land and luxury listings. If you're looking to rent in Panama City FL, check out our extensive list of luxury apartments and townhomes. We make it easy to find your dream home by filtering home types, price and size. Filtering with keyword search is also possible, like "waterfront" or step inside homes in Panama City.

US authorities say that Steinmetz paid Mamadie Touré $5.3 million for her help in obtaining the concession from her husband Lansana Conté, president of Guinea, shortly before he died.[442] According to Global Witness, an offshore company belonging to Touré, Matinda, received a payment of $2.4 million from a company named Pentler Holdings. Several more payments were promised as well as 5% of BSGR shares in Simandou. Pentler owned 17.65% of BSGR Guinea.[458]


Being from Argentina, I was interested in this documentary because our President was one of the many figures in Western politics mentioned in this scandal. However, as in the other cases mentioned on the movie, the movie barely makes a passing mention of the case and doesn't bother to explain it in detail. Instead of explaining, step by step, how the process of setting up an offshore company works, exactly what each politician mentioned was involved in, and what the evidence against them was (which could have helped bring transparency into this important issue), the movie wastes time (more than an hour to be precise) talking about the journalists involved, how their investigation took place, and describing their collaborative international process in combing through the evidence, in what feels like a self-congratulatory exercise. While in itself interesting, I believe me and most of the audience were more interested in the actual contents of the Panama Papers itself and not on the journalistic process which made it happen. The documentary, in my opinion, gives an undue weight on this aspect of the story. The second part, on which the arrests made in Panama are described, is more interesting, but this extends for only 20 minutes, before we are back to the journalistic side of the story again.
Ken Emrith, a member of the opposition United National Congress (UNC), is linked to a bribery scandal in Brazil through Panamanian shell companies used to transfer millions of US dollars to offshore bank accounts.[411] The Brazilian construction company Grupo OAS [pt] was awarded a contract in 2011 through the National Infrastructure Development Company (NIDCO) by the People's Partnership administration to build a highway in Trinidad for TT$5.2 billion.[note 2] The highway is 49% complete, but it is now estimated that the highway will cost TT$8 billion when done.[411] Investigators have found that Emirth's companies received $6 million from NIDCO and that Emirth was also a director of Pembury Consultants (Trinidad and Tobago) Limited, which OAS hired on the highway project as a consultant at $44,800 a month.[411] Through May 2013 OAS paid Pembury at least TT$896,000; totals beyond that date are not currently available.[411]
American film-maker Stanley Kubrick had an estimated personal worth of $20 million when he died in 1999, much of it invested in an 18th-century English manor he bought in 1978. He lived in that manor for the rest of his life, filming scenes from The Shining, Full Metal Jacket and Eyes Wide Shut there as well. Three holding companies set up by Mossack Fonseca now own the property, and are in turn held by trusts set up for his children and grandchildren.[26] Since Kubrick was an American living in Britain, without the trust his estate would have had to pay transfer taxes to both governments and possibly have been forced to sell the property to obtain the liquid assets to pay them.[27] Kubrick is buried on the grounds along with one of his daughters, and the rest of his family still lives there.[26][27]
Panama was under Spanish rule for almost 300 years (1538–1821), and became part of the Viceroyalty of Peru, along with all other Spanish possessions in South America. From the outset, Panamanian identity was based on a sense of "geographic destiny", and Panamanian fortunes fluctuated with the geopolitical importance of the isthmus. The colonial experience spawned Panamanian nationalism and a racially complex and highly stratified society, the source of internal conflicts that ran counter to the unifying force of nationalism.[19][page needed]

Boquete is one of the original areas in Panama to have an expat community. Held as one of the largest expat populations in Panama, current estimates are the population of expats number 5,000 among the 25,000 people living in this highland mountain town. Boquete has always been a tourist destination for those seeking outdoor activities and cooler weather. Several expats have opened businesses in Boquete such as bakeries, hotels, and restaurants. Boquete has become known as a holistic and wellness center with an array of classes in Yoga, meditation, Tai Chi, and Chi Gong on offer.
The definite origin of the name Panama is unknown. There are several theories. One states that the country was named after a commonly found species of tree (Sterculia apetala, the Panama tree). Another states that the first settlers arrived in Panama in August, when butterflies are abundant, and that the name means "many butterflies" in one or several of indigenous Amerindian languages that were spoken in the territory prior to Spanish colonization. The most scientifically corroborated theory by Panamanian linguists, states that the word is a hispanicization of Kuna language word "bannaba" which means "distant" or "far away".[14]
DCB Finance, a Virgin Islands-based shell company founded by North Korean banker Kim Chol-sam[104] and British banker Nigel Cowie,[105] also ignored international sanctions and continued to do business with North Korea with the help of the Panamanian firm. The US Treasury Department in 2013 called DCB Finance a front company for Daedong Credit Bank and announced sanctions against both companies for providing banking services to North Korean arms dealer Korea Mining and Development Trading Corporation,[104] attempting to evade sanctions against that country, and helping to sell arms and expand North Korea's nuclear weapons programme. Cowie said the holding company was used for legitimate business and he was not aware of illicit transactions.[105]

A commonly relayed legend in Panama is that there was a fishing village that bore the name "Panamá", which purportedly meant "an abundance of fish", when the Spanish colonizers first landed in the area. The exact location of the village is unknown. The legend is usually corroborated by Captain Antonio Tello de Guzmán's diary entries, who reports landing at an unnamed village while exploring the Pacific coast of Panama in 1515; he only describes the village as a "same small indigenous fishing town". In 1517, Don Gaspar de Espinosa, a Spanish lieutenant, decided to settle a post in the same location Guzmán described. In 1519, Pedrarias Dávila decided to establish the Spanish Empire's Pacific port at the site. The new settlement replaced Santa María La Antigua del Darién, which had lost its function within the Crown's global plan after the Spanish exploitation of the riches in the Pacific began.


Ian Cameron, the late father of UK Prime Minister David Cameron, ran an offshore fund (Blairmore Holdings, Inc.) through Mossack Fonseca that avoided UK taxes for 30 years. His company moved to Ireland after David Cameron became Prime Minister.[321] On April 6, Cameron admitted that he had owned shares in Blairmore, but said he sold his shares before becoming PM.[322]

The United States government said Operation Just Cause, which began on December 20, 1989, was "necessary to safeguard the lives of U.S. citizens in Panama, defend democracy and human rights, combat drug trafficking, and secure the neutrality of the Panama Canal as required by the Torrijos–Carter Treaties" (New York Times, A Transcript of President Bush's Address n.p.).[33] Human Rights Watch wrote in its 1989 report: "Washington turned a blind eye to abuses in Panama for many years until concern over drug trafficking prompted indictments of the general [Noriega] by two grand juries in Florida in February 1988".[34] The US reported 23 servicemen killed and 324 wounded, with Panamanian casualties estimated around 450. Described as a surgical maneuver, the action led to estimates of civilian death from 200 to 4,000 during the two weeks of armed activities. The United Nations put the Panamanian civilian death toll at 500, the United States gave a figure of 202 civilians killed and former US attorney general Ramsey Clark estimated 4,000 deaths.[35][36] It represented the largest United States military operation since the end of the Vietnam War (Cajar Páez 22)[37] The number of US civilians (and their dependents), who had worked for the Panama Canal Commission and the US military, and were killed by the Panamanian Defense Forces, has never been fully disclosed.


The dazzling blue coastline and shimmering skyscrapers say Miami, though many joke that you hear more English spoken in Panama. Panama City is culturally diverse and driven, rough-edged yet sophisticated. And there's much that's new or improved. Central America's first subway is operating, the historic Casco district has been beautifully restored and a massive canal expansion completed. Take in the city's funky particulars. Pedal the coastal green space, explore the Casco or attend an avant-garde performance and you will realize this tropical capital isn't only about salsa: that's just the backbeat.
Panama was under Spanish rule for almost 300 years (1538–1821), and became part of the Viceroyalty of Peru, along with all other Spanish possessions in South America. From the outset, Panamanian identity was based on a sense of "geographic destiny", and Panamanian fortunes fluctuated with the geopolitical importance of the isthmus. The colonial experience spawned Panamanian nationalism and a racially complex and highly stratified society, the source of internal conflicts that ran counter to the unifying force of nationalism.[19][page needed]
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]
Guinean President Alpha Condé launched an investigation after he was elected in 2010. Separately, so did the US Federal Bureau of Investigation (FBI) and the US justice department, suspecting violations of the Foreign Corrupt Practices Act. In August 2014 Mossack Fonseca received a Tax Information Exchange Agreement (TIEA) notice from the US government inquiring into ownership of Pentler and two other BSGR companies administered by Mossack Fonseca's Geneva office. However, the president of Pentler's financial management firm, Menachem Eitan, was a fugitive from the US SEC facing charges over a $55 million Ponzi scheme.[460]
Hussain Nawaz said his family won't hamper any investigation, and urged one of former president Pervez Musharraf as well.[370] The government on April 15 announced an investigation by an inquiry commission of all Pakistanis named in the documents. Opposition politicians said a judge, not a retired judge, should investigate. Numerous judges recused themselves.[371] On July 28, 2017, the Supreme Court of Pakistan, disqualified Sharif from holding office.
The ICIJ investigation traces out many levels of offshore holdings in multiple countries related to the business dealings of Beny Steinmetz, with many serious findings such as a request that Mossack Fonseca backdate the revocation of a power of attorney.[18] Mossack Fonseca records show that Sierra Leone diamond exporter Octea, based in the British Virgin Islands with the Steinmetz family as its beneficiaries, is wholly owned by Guernsey-based BSGR Resources, linked to a bribery scandal in Guinea. Foundations in Switzerland and Liechtenstein, among them Nysco and Balda, own BSGR. In 2007, one of Nysco's bank accounts contained $27.7 million.
New Zealand's Inland Revenue Department said that they were working to obtain details of people who have tax residence in the country who may have been involved in arrangements facilitated by Mossack Fonseca.[493] Gerard Ryle, director of the International Consortium of Investigative Journalists, told Radio New Zealand on April 8, 2016 that New Zealand is a well-known tax haven and a "nice front for criminals".[494] New Zealand provides overseas investors with foreign trusts and look-through companies. New Zealand government policy is to not request disclosure of the identity of either the settlor or the beneficiaries of the trust, and thus the ownership remains secret, and as a consequence, thus hiding the assets from the trust-holder's home jurisdictions. These trusts are not taxed in New Zealand. These trusts can then be used to acquire and own New Zealand registered companies, which become a vehicle by which the trust owners can exercise day to day control over their assets. These New Zealand-registered companies can be designed not to make a profit using loans from tax havens and other profit shifting techniques: the result being tax free income with the general respectability that has typically been associated with companies registered in New Zealand.

According to ICIJ investigative partner Trinidad Express, Emrith was a close associate of Jack Warner and also owns half the shares in Proteus Holding SA, an investment he refuses to discuss because he says he has a responsibility of confidentiality to fellow shareholders.[412] The Express also says that OAS used a Namibian port development project as camouflage for a $1 million payment from Procopio shell company Santa Tereza Services Ltd to Emirth.[412]


Real estate in London, where housing prices increased 50% from 2007 to 2016, also is frequently purchased by overseas investors.[43][44][45] Donald Toon, head of Britain's National Crime Agency, said in 2015 that "the London property market has been skewed by laundered money. Prices are being artificially driven up by overseas criminals who want to sequester their assets here in the UK".[45] Three quarters of Londoners under 35 cannot afford to buy a home.[45]

The Panama Papers is a documentary that portrays the history of the global leak that involved a now infamous legal services company based in Panama, and its activities involved in setting up offshore shell companies to help celebrities, politicians and powerful figures from around the globe, in avoiding taxes, money laundering, and other financial crimes. This issue, of global relevance since it involves sistemic corruption in the global financial system and most countries around the world, was, however, poorly explained in this movie.


The publisher concludes that: "Taiwanese companies and individuals are believed to be extensively using offshore shelters to avoid or evade taxes ... after scouring the Panama Papers documents that Mossack Fonseca has not been one of their main conduits. This time, it appears that big Taiwanese banks, law firms and accounting firms did not often use the services of Mossack Fonseca, which does not have a presence in Taiwan. The forty-six Taiwanese brokers that did work with Mossack Fonseca were relatively small-scale consulting firms operating in Greater China. Most of the Taiwanese entities that set up shell companies through the Panamanian law firm were small, unlisted companies or individuals."[389]
Revenue from canal tolls continues to represent a significant portion of Panama's GDP, although commerce, banking, and tourism are major and growing sectors. It is regarded as a high-income country.[10] In 2015 Panama ranked 60th in the world in terms of the Human Development Index.[11] In 2018, Panama was ranked seventh-most competitive economy in Latin America, according to the World Economic Forum's Global Competitiveness Index.[12] Covering around 40 percent of its land area, Panama's jungles are home to an abundance of tropical plants and animals – some of them found nowhere else on earth.[13] Panama is a founding member of the United Nations and other international organizations such as OAS, LAIA, G77, WHO and NAM.
Many individuals mentioned in the Panama Papers are connected with the world governing body of association football, FIFA, including the former president of CONMEBOL Eugenio Figueredo;[501] former President of UEFA Michel Platini;[502] former secretary general of FIFA Jérôme Valcke;[502] Argentine player for Barcelona Lionel Messi; and, from Italy, the head manager of Metro, Antonio Guglielmi.[501]
The Süddeutsche Zeitung, one of the newspapers participating in the project that made the papers public, described the connections of various individuals listed in them to Russian president Vladimir Putin. They quoted Nobel-winning economist Paul Krugman and US State Department documents saying that Russia is a "kleptocracy" and a "mafia state" respectively.[235] The Süddeutsche Zeitung reported about $2 billion had moved through a network of companies associated with Russian firms and individuals in "just a few years" and the companies appeared to have been used for "questionable business transactions".[235]
During World War II, construction of military bases and the presence of larger numbers of U.S. military and civilian personnel brought about unprecedented levels of prosperity to the city. Panamanians had limited access, or no access at all, to many areas in the Canal Zone neighboring the Panama city metropolitan area. Some of these areas were military bases accessible only to United States personnel. Some tensions arose between the people of Panama and the U.S. citizens living in the Panama Canal Zone. This erupted in the January 9, 1964 events, known as Martyrs' Day.

The US influence in Panama can be seen in the country's sports. Baseball is Panama's national sport and the country has regional teams and a national team that represents it in international events. At least 140 Panamanian players have played professional baseball in the United States, more than any other Central American country.[89] Notable players include Bruce Chen, Rod Carew, Mariano Rivera, Carlos Lee, Manny Sanguillén, and Carlos Ruiz.

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