SZ asked the ICIJ for help because of the amount of data involved. Journalists from 107 media organizations in 80 countries analyzed documents detailing the operations of the law firm. After more than a year of analysis, the first news stories were published on April 3, 2016, along with 150 of the documents themselves. The project represents an important milestone in the use of data journalism software tools and mobile collaboration.
One of the most important Panamanian artists is Alfredo Sinclair. He has worked for over 50 years in abstract art and has produced one of the most important artistic collections in the country. His daughter, Olga Sinclair, has also followed in his footsteps and has become another force in Panamanian art. Another very prominent Panamanian artist is Guillermo Trujillo, known worldwide for his abstract surrealism. Brooke Alfaro is Panamanian artist known throughout the world for his uniquely rendered oil paintings. Another prominent artist is Mario Calvit, known as one of the great painters of the generation that flourished in the country between the decades of 1950 and 1970.
The leaked documents indicate that about US$2 trillion has passed through the firm's hands. Several of the holding companies that appear in the documents did business with sanctioned entities, such as arms merchants and relatives of dictators, while the sanctions were in place. The firm provided services to a Seychelles company named Pangates International, which the US government believes supplied aviation fuel to the Syrian government during the current civil war, and continued to handle its paperwork and certify it as a company in good standing, despite sanctions, until August 2015.
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. 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". 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.
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.
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.
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. 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.
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." 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.
According to the Panama Papers, Kabila's twin sister owns part of an offshore company with interests in Congo that include a part of mobile-phone company Vodacom Congo. The government called a press conference to warn journalists against printing the names of any Congolese figures that might appear in the documents. Kabila's sister, Jaynet Désirée Kabila Kyungu and Feruzi Kalume Nyembwe, an advisor to their late father and former president Laurent-Désiré Kabila are both directors of Keratsu Holding Limited, a company registered in Niue through Mossack Fonseca a few months after the elder Kabila's assassination. Keratsu held 19.6% of the shares in Congolese Wireless Network, which held 49% of Vodacom Congo.
Computer security expert Chris Kubecka announced May 24, 2016 that the Mossack Fonseca client login portal was running four different government grade remote access trojans (RATs). Kubecka confirmed there were still numerous critical vulnerabilities, too many open ports into their infrastructure and internet access to their archive server due to weak security. Kubecka explained how each data security issue was discovered in detail in a full-length book titled Down the Rabbit Hole: An OSINT Journey.
The Reykjavik Grapevine and the news site Kjarninn revealed that President Ólafur Ragnar Grímsson had connections to Lasca Finance Limited, registered in 2005 in the British Virgin Islands. Ólafur Ragnar had categorically denied any personal or family ties to companies in tax havens. The parents of his wife, Dorrit Moussaieff, operated the company 1999–2005. The financial statements of the Moussaieff family business show it received nearly £7 million ($10.2 million US, €9.1 million) in interest payments from Lasca during 2000–2005. In 2005 Moussaieff Jewelers Limited sold its 10% stake of Lasca to S. Dorrit Moussaieff's deceased father and her mother, now 86 years old and the registered owner of the Lasca ownership stake. Dorrit and her sisters Tamara and Sharon will inherit her fortune, considered among the largest in the world.
"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."