In 2015, Süddeutsche Zeitung (SZ) was contacted by an anonymous source calling him or herself "John Doe," who offered to leak the documents. Doe did not demand any financial compensation in return, according to the SZ. The total volume of data comes to about 2.76 terabytes, making it the biggest data leak in history. The data pertains to the period spanning from the 1970s to the spring of 2016.
Relatives of highly placed Chinese officials including seven current and former senior leaders of the Politburo of the Communist Party of China have been named, including former Premier Li Peng's daughter Li Xiaolin, former Communist Party general secretary Hu Yaobang's son Hu Dehua and Deng Jiagui, the brother-in-law of current general secretary Xi Jinping. Deng had two shell companies in the British Virgin Islands while Xi was a member of the Politburo Standing Committee, but they were dormant by the time Xi became General Secretary of the Communist Party (paramount leader) in November 2012. Others named include the son and daughter-in-law of propaganda chief Liu Yunshan and the son-in-law of Vice-Premier Zhang Gaoli.[338]
Casa Loma is located in Panama City Beach and features a Gulf-front outdoor pool and free WiFi access. Pier Park, offering shopping and dining, is 7 minutes' drive away. Just a short walk to the beach but if you didn't want to go to the beach there was a very nice pool to swim in. House keeping was great and so were the staff. There was no problem with parking.
The trial court prosecutor in Tunis ordered a judicial inquiry into the Panama Papers and Tunisian political figures suspected of hiring the firm. A judge from a Tunisian court specializing in financial crimes was assigned to the case.[479] The Tunisian Assembly of the Representatives of the People established a parliamentary commission of inquiry as well[480]
The Panamanian Public Forces are the national security forces of Panama. Panama is the second country in Latin America (the other being Costa Rica) to permanently abolish its standing army. Panama maintains armed police and security forces, and small air and maritime forces. They are tasked with law enforcement and can perform limited military actions.

Mossack Fonseca approached Niue in 1996 and offered to help set up a tax haven on the tiny South Sea island. The law firm drafted the necessary legislation, permitting offshore companies to operate in total secrecy. They took care of all the paperwork, the island got a modest fee for each filing, and it seemed like quite a deal, even if they were required by law now to provide all banking paperwork in Russian and Chinese as well as English.[497]

The family of Azerbaijan President Ilham Aliyev leads a well-off life thanks in part to financial interests in various sectors of the nation's economy. His wife ascendants are privileged and powerful family that owns banks, insurance and construction companies, a television station and a line of cosmetics. She is well known for her pre-eminent charity work that has led to the construction of schools, hospitals and the country's major sports complex.[335]
Varuzhan Hotkanian, head of the Armenian branch of the anti-corruption watchdog Transparency International, said that perhaps Poghosian was forced to resign by the country's leadership, since the evidence pointed directly to him. But, he said, he still questions the government's commitment to fighting corruption.[172] Leading opposition figure Levon Zourabian demanded answers on the matter from the floor of Parliament.[173]
The number of tourists from Europe grew by 23.1 percent during the first nine months of 2008. According to the Tourism Authority of Panama (ATP), from January to September, 71,154 tourists from Europe entered Panama, 13,373 more than in same period the previous year. Most of the European tourists were Spaniards (14,820), followed by Italians (13,216), French (10,174) and British (8,833). There were 6997 from Germany, the most populous country in the European Union. Europe has become one of the key markets to promote Panama as a tourist destination.
Mr. Cameron, whose father was a client of the Panamanian law firm, initially said he had not benefited from any “offshore funds,” only to confirm later that he and his wife had profited when they sold shares in an offshore trust for 30,000 pounds ($42,160) in 2010, the year he became prime minister. (The dividends they earned were declared and taxed, Mr. Cameron said.)
More than 500 banks registered nearly 15,600 shell companies with Mossack Fonseca, with HSBC and its affiliates accounting for more than 2,300 of the total. Dexia and J. Safra Sarasin of Luxembourg, Credit Suisse from the Channel Islands and the Swiss UBS each requested at least 500 offshore companies for their clients.[107] An HSBC spokesman said, "The allegations are historical, in some cases dating back 20 years, predating our significant, well-publicized reforms implemented over the last few years."[111]
In 2008–2009, the Beny Steinmetz Group Resources (BSGR) and its owner Beny Steinmetz paid just $165 million for the mining rights to the northern portion of Simandou mine, located in the Nzérékoré region of Guinea's interior. Soon after, he sold 51 percent of the rights to Vale for $2.5 billion. Rio Tinto, which had previously held the concession, had invested $450 million into infrastructure at the site.[458] Global Witness says BSGR in fact paid nothing for the rights, and the $165 million represents BSGR's self-reported investment in improvements at the site. It adds that either way BSGR's profit exceeded the national budget of Guinea.[459]

The ICIJ's Offshore Leaks Database shows that Portugal had 246 Offshore Entities, 300 Officers, 40 Intermediaries and 175 Addresses linked to the activities described in the Mossack-Fonseca papers,[233] with newspapers reporting the involvement of several politicians, government officials, bankers and company managers.[234] As of May 2017, there were no criminal or judicial consequences for any of the involved.

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).
Asked about the paucity of American individuals in the documents, digital editor of Süddeutsche Zeitung, Stefan Plöchinger, said via Twitter: "Just wait for what is coming next."[429] Plöchinger later clarified that he was just advocating not jumping to conclusions.[430] Copies of at least 200 American passports – indicating that their owners applied for banking services – have been discovered in the Papers, but no US politicians have yet been named in the leak.[82][108] The names of a few Americans are however mentioned:
On April 6, the federal police searched UEFA headquarters in Nyon as part of a "criminal mismanagement" probe into a Champions League television rights deal signed by FIFA's new president Gianni Infantino.[287] The same day, Geneva's attorney general opened several procedures in reaction to a report about misconduct by Swiss lawyers and trustees.[288]

The Panama Papers are 11.5 million leaked documents that detail financial and attorney–client information for more than 214,488 offshore entities.[1][2] The documents, some dating back to the 1970s, were created by, and taken from, Panamanian law firm and corporate service provider Mossack Fonseca,[3] and were leaked in 2015 by an anonymous source.[4]
Eduardo Morgan of the Panamanian firm Morgan & Morgan accused the OECD of starting the scandal to avoid competition from Panama with the interests of other countries.[138] The Panama Papers affect the image of Panama in an unfair manner and have come to light not as the result of an investigation, but of a hack, said Adolfo Linares, president of the Chamber of Commerce, Industries and Agriculture of Panama (Cciap).[139]
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 Bangkok Post reported that the "Anti-Money Laundering Office (AMLO) is seeking information from its foreign counterparts regarding twenty-one Thai nationals reportedly included in a list of people worldwide using a Panama-based law firm apparently specializing in money laundering and tax evasion." It is not clear why AMLO is investigating only twenty-one. The Panama Papers include at least 780 names of individuals based in Thailand and another 50 companies based in Thailand. Some are foreigners or foreign-owned companies, but 634 individual addresses in Thailand appear in the documents that have surfaced to date, including the CEOs of giant companies Bangkok Land and Phatra Finance.[386]
Long jumper Irving Saladino became the first Panamanian Olympic gold medalist in 2008. In 2012 eight different athletes represented Panama in the London 2012 Olympics: Irving Saladino in the long jump, Alonso Edward and Andrea Ferris in track and field, Diego Castillo in swimming, and the youngest on the team, Carolena Carstens who was 16 competing in taekwondo. She was the first representative to compete for Panama in that sport.
Panama's politics take place in a framework of a presidential representative democratic republic, whereby the President of Panama is both head of state and head of government, and of a multi-party system. Executive power is exercised by the government. Legislative power is vested in both the government and the National Assembly. The judiciary is independent of the executive and the legislature.

Canadian prime minister Justin Trudeau has denied any involvement in the affair, saying he had "entirely and completely been transparent about mine and my family's finances. That is something I learned early on that Canadians expect from their leaders."[392] Canada Revenue Agency said in a statement that its current tax evasion audits include "some Canadian clients associated with law firm Mossack Fonseca,"[393] and added that it would "communicate" with its treaty partners to obtain any further information that may not currently be in its possession." The CRA has tax treaties with 92 different countries and 22 Tax Information Exchange Agreements.[392][393] The CRA has begun or completed 116 audits and 234 more are planned. These investigations are expected to recoup at least $11 million in taxes and fines. Fewer than 10 related criminal investigations are in progress. [394]


Paralleling the principal mountain chains, a lower mountain arc extends along Panama’s southern coast. It appears only in well-separated segments—for example, on Azuero Peninsula as the Canajagua Massif and in eastern Panama as the Sierra de Jungurudó, Sapo Mountains, and the Majé Mountains. The highlands and mountains are made up primarily of igneous (volcanic) rocks.
And then there are factors the lists and indexes can’t quantify. For instance, the people of Panama are beautiful, inside and out. Get to know them just a little and you’ll see they have big hearts and an even bigger zest for life. They’re welcoming to foreigners, who in turn feel safe here. Increasing numbers of North Americans, Europeans, and others are moving here and contributing to the burgeoning economy.
To start this tour, you will follow the Panama Canal north to the town of Gamboa, where the Chagres River meets the canal. You will begin the wildlife viewing from a boat on the waters of the canal and Gatun Lake. You will ride along the waters of the Panama Canal right next to the ships passing through as well as have an up close view of the the abundant wildlife on its shores.  You will visit the famous Monkey Islands where you will see capuchins, howlers, and tamarins. Once you finish with the canal and lake boat ride (around 90 minutes), you will head 45 minutes north to the Caribbean side of Panama. You will visit the Agua Clara Visitor Center to see the new expansion locks working up close.  Located on the west side of the brand new Agua Clara Locks, the Agua Clara Visitor Center allows you to observe transiting vessels from a scenic lookout point and learn first hand about the various operations of the Panama Canal, the history of its construction, its participation in the world markets, and the importance of its watershed. An observational deck lets you watch the ships pass through the Agua Clara Locks on their way to the Pacific or Atlantic oceans. The next stop will be a visit to San Lorenzo National Park where you will visit a remote rainforest full of flora and fauna, followed by a freshly made picnic lunch and a tour Fort San Lorenzo. A 400 year old Spanish fort on a scenic cliff overlooking the Caribbean, here you will recount the many attacks by pirates and privateers that happened at one of the most historically important places in Panama.  The Fort of San Lorenzo, located on an 80 foot (25m) cliff overlooking the Caribbean Sea at the estuary of the Chagres River, was declared a UNESCO World Heritage Site in 1980 along with the fortifications of the city of Portobelo. It was part of the defensive system for the transatlantic trade of the Spanish Crown, and is a fine example of military architecture of the seventeenth and eighteenth centuries. The Fort of San Lorenzo is one of the oldest fortresses in Spanish America. Here you will recount the many attacks by pirates and privateers that happened at one of the most historically important places in Panama.  Once you finish the tour of the fort, you will return to Panama City for hotel drop off.
According to Senegalese daily Libération, the money-laundering unit Tracfin became interested in 2006 in a €300,000 payment from Groupe Marck, a French company specializing in military uniforms and anti-riot gear, to a Monaco-based entity called Citp. Citp was managed by Kane, a close friend of the president's chief of staff, Maixent Accrombessi, himself held in Paris and interrogated in August 2015. French officials wanted to ask Accrombessi about a contract between Marck and the Gabonese Ministry of the Interior for €7 million. The head of Marck, Philippe Belin, was also held and questioned. The investigation was assigned to Roger Le Loire [fr], who also conducted the so-called "ill-gotten goods" investigation, which targeted a number of African leaders including the father and predecessor of Ali Bongo Ondimba, the current president of Gabon.[31]
The trial court prosecutor in Tunis ordered a judicial inquiry into the Panama Papers and Tunisian political figures suspected of hiring the firm. A judge from a Tunisian court specializing in financial crimes was assigned to the case.[479] The Tunisian Assembly of the Representatives of the People established a parliamentary commission of inquiry as well[480]
Former Emir of Qatar Hamad bin Khalifa Al Thani owned Afrodille S.A., which had a bank account in Luxembourg and shares in two South African companies. Al Thani also held a majority of the shares in Rienne S.A. and Yalis S.A., holding a term deposit with the Bank of China in Luxembourg. A relative owned 25 percent of these: Sheikh Hamad bin Jassim Al Thani, Qatar's former prime minister and foreign minister.[85]
The Bangkok Post reported that the "Anti-Money Laundering Office (AMLO) is seeking information from its foreign counterparts regarding twenty-one Thai nationals reportedly included in a list of people worldwide using a Panama-based law firm apparently specializing in money laundering and tax evasion." It is not clear why AMLO is investigating only twenty-one. The Panama Papers include at least 780 names of individuals based in Thailand and another 50 companies based in Thailand. Some are foreigners or foreign-owned companies, but 634 individual addresses in Thailand appear in the documents that have surfaced to date, including the CEOs of giant companies Bangkok Land and Phatra Finance.[386]

Hamad bin Khalifa Al Thani, former Emir of Qatar,[1] is listed as owner of Afrodille S.A., which had a bank account in Luxembourg and shares in two South African companies. Al Thani also held a majority of the shares in Rienne S.A. and Yalis S.A., holding a term deposit with the Bank of China in Luxembourg. A relative owned 25% of these: Sheikh Hamad bin Jassim Al Thani, Qatar's former prime minister and foreign minister.[3]

When Ukrainian president Petro Poroshenko took office in 2014, a popular uprising had just toppled his predecessor, Viktor Yanukovych.[292] Poroshenko pledged to sell his candy business (Roshen) if elected, but leaked documents indicate that on August 21, 2014 he instead had Mossack Fonseca set up offshore holding company Prime Asset Partners Ltd in the British Virgin Islands and moved his company there, roughly two months after the election. The move had the potential to save him millions of dollars on his Ukrainian taxes.[293] Records in Cyprus show him as the firm's only shareholder.[294] Some legal experts say the explanation may be sound;[295] however this isn't making a difference to Ukrainian media making the point that Poroshenko opened his offshore account in August 2014 as Ukrainian soldiers were being massacred by the Russians in Ilovaisk.[295] The Panama Papers report may also have figured in the defeat of a trade deal with the Netherlands in a referendum there on April 6.[295]
Mossack Fonseca documents provide new insight and confirmation for a previously-litigated tax case where an offshore company transferred its registration to avoid paying capital gains tax in Uganda.[482] The documents show that Heritage Oil and Gas Limited (HOGL) knew in advance of a capital gains tax that Uganda planned to enact. HOGL was then operating in Uganda and planned to sell half its Ugandan assets. It "urgently"[483] moved its registration from the Bahamas to Mauritius to avoid the tax.[482] Mauritius has a double taxation agreement with Uganda, meaning that HOGL would pay tax in only one of the two countries.[482] But Mauritius does not have a capital gains tax, so by moving there Heritage reduced its capital gains tax to zero.[484] Emails clearly show that this was the reason for the transfer, although company attorneys deny it.[482]
Coronado is a vibrant community located just one hour from Panama City, and many Panamanians have second homes here on the beach. Of the 5,000 plus population there is a large group of expats which are a mix of Canadians, Americans, and Europeans. Built in 1941, this beach community is trendy with shops, restaurants, activities, and resorts. On weekends it is a favorite getaway spot for Panama City residents to spend time at the beach.
Areas of alluvial soils (which develop from clay, silt, sand, and gravel deposited by streams) are especially fertile but are limited to the lower parts of river valleys. The commercial banana plantations around Puerto Armuelles and in western Bocas del Toro province are mainly on alluvial soils. Some of the soils along the inland edges of coastal mangrove swamps have also proved productive. In some areas, exceptionally fertile soils have developed from volcanic ash.
According to the ICIJ, Aliyev's daughter Arzu not only has financial stakes not only in gold rights but also in Azerfon, the country's largest mobile phone business. She has shares in SW Holding, which "controls nearly every operation related to Azerbaijan Airlines" (Azal), from meals to airport taxis. Both sisters and their brother Heydar own property in Dubai valued at roughly $75 million in 2010; Heydar is the legal owner of nine luxury mansions in Dubai purchased for some $44 million.[334]

In March 2005, Dan Gertler International formed a new company, Global Enterprises Corporate (GEC), with Global Resources, owned by Beny Steinmetz. A former DRC mines minister, Simon Tuma-Waku, was "special adviser". The company formed a joint copper and cobalt mining venture with DRC agency La Générale Des Carriers et Des Mines (Gécamines), which held 25%, and GEC 75%, which they placed into an Isle of Man holding company, Nikanor plc. The IPO raised £400 million in London and the company eventually reached a market capitalization of $1.5 billion for an initial investment of $3 million.[450]
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.
Christianity is the main religion in Panama. An official survey carried out by the government estimated in 2015 that 63.2% of the population, or 2,549,150 people, identifies itself as Roman Catholic, and 25.0 percent as evangelical Protestant, or 1,009,740.[77] The Jehovah's Witnesses were the third largest congregation comprising the 1.4% of the population, followed by the Adventist Church and The Church of Jesus Christ of Latter-day Saints with the 0.6%. There is a very large Buddhist (0.4% or 18,560) and Jewish community (0.1% or 5,240) in the country.
Some 600 Israeli companies and 850 Israeli shareholders are listed. Among the Israeli names found in the leaked documents are top attorney Dov Weissglass, who was the bureau chief of deceased prime minister Ariel Sharon; Jacob Engel, a businessman active in the African mining industry; and Idan Ofer, a member of one of Israel's wealthiest families, according to Haaretz.[361]
Additional stories were released based on this data, and the full list of companies was released in early May 2016.[64] The ICIJ later announced the release on May 9, 2016 of a searchable database containing information on over 200,000 offshore entities implicated in the Panama Papers investigation and more than 100,000 additional companies implicated in the 2013 Offshore Leaks investigation.[65] Mossack Fonseca asked the ICIJ not to publish the leaked documents from its database. "We have sent a cease and desist letter," the company said in a statement.[66]

Mossack Fonseca has managed more than 300,000 companies over the years.[95] The number of active companies peaked at more than 80,000 in 2009. Over 210,000 companies in twenty-one jurisdictions figure in the leaks. More than half were incorporated in the British Virgin Islands, others in Panama, the Bahamas, the Seychelles, Niue, and Samoa. Mossack Fonseca's clients have come from more than 100 countries. Most of the corporate clients were from Hong Kong, Switzerland, the United Kingdom, Luxembourg, Panama, and Cyprus. Mossack Fonseca worked with more than 14,000 banks, law firms, incorporators, and others to set up companies, foundations, and trusts for their clients.[107] Some 3,100 companies listed in the database appear to have ties to US offshore specialists, and 3,500 shareholders of offshore companies list US addresses.[108] Mossack Fonseca has offices in Nevada and Wyoming.[109]

Coronado is a vibrant community located just one hour from Panama City, and many Panamanians have second homes here on the beach. Of the 5,000 plus population there is a large group of expats which are a mix of Canadians, Americans, and Europeans. Built in 1941, this beach community is trendy with shops, restaurants, activities, and resorts. On weekends it is a favorite getaway spot for Panama City residents to spend time at the beach.

Panama City is a four-season paradise for water-sports enthusiasts. Kayaking, paddleboarding, sailing and kiteboarding are popular activities on the crystal blue waters of St. Andrews Bay. Numerous charters offer inshore and offshore fishing, scuba and snorkeling excursions. Guided day trips are available for dolphin-watching or you can go shelling on uninhabited Shell Island. Enjoy water views and fresh, locally caught seafood at popular restaurants like Gene's Oyster Bar, a local landmark.
The Río Chagres is one of the longest and most vital of the approximately 150 rivers that flow into the Caribbean. Part of this river was dammed to create Gatun Lake, which forms a major part of the transit route between the locks near each end of the canal. Both Gatun Lake and Madden Lake (also filled with water from the Río Chagres) provide hydroelectricity to the former Canal Zone area. The Río Chepo, another major source of hydroelectric power, is one of the more than 300 rivers emptying into the Pacific.
The high levels of Panamanian trade are in large part from the Colón Free Trade Zone, the largest free trade zone in the Western Hemisphere. Last year the zone accounted for 92 percent of Panama's exports and 64 percent of its imports, according to an analysis of figures from the Colon zone management and estimates of Panama's trade by the United Nations Economic Commission for Latin America and the Caribbean. Panama's economy is also very much supported by the trade and export of coffee and other agricultural products.[citation needed]
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).
Of Panama’s many short rivers, those that flow to the Caribbean include the Sixaola, Changuinola, Indio, Cricamola, La Miel, and Chagres. Rivers flowing to the Pacific include the Chiriquí Viejo, Santa María, Chepo, Chucunaque, and Tuira. During the rainy season the Tuira is navigable for some 40 miles (60 km) and the Chepo for 20 miles (30 km). Water in the Panama Canal does not flow from coast to coast; rather, it is released from the rain-fed Gatún and Alajuela (Madden) lakes in the central highlands. In effect, the water flows to both coasts simultaneously via the canal’s system of locks and dams. For details on the engineering and operation of the waterway, see Panama Canal.
In April 2019, the ICIJ and European newspapers reported that the global tally of such payments exceeded one billion USD, and is now at 1.2 billion. In comparison, Great Britain recovered the largest position (253 million), followed by Denmark (237 million), Germany (183 million), Spain (164 million), France (136 million) and Australia (93 million). Colombia with 89 million recuperated the highest amount for South and Central American countries, which were heavily involved in the financial scandal. While investigations are ongoing in Austria, Canada and Switzerland, and more payments are to be expected, many countries are conducting continued inspections of companies and private individuals revealed in the report.[504][505]
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.
Bruno Itoua was the president's advisor on oil and director-general of the SNPC until 2005. A US federal court found that he diverted funds to fictitious companies, but he nonetheless became minister of energy. Panama Papers documents seen by Le Monde reveal he has also held the power of attorney since 2004 for Denvest Capital Strategies and Grafin Associated SA, registered by Mossack Fonseca in Panama and the British Virgin Islands.[444] Itoua is currently minister for scientific research.[444]
Petroleum Minister José Maria Botelho de Vasconcelos had power of attorney for an offshore company in 2002, when he became petroleum minister after previously being employed for a number of years as an executive at Sonangol,[439] according to the leaked documents. He denies wrongdoing.[441] ICIJ partner Le Monde says it has seen documents that show he was the proxyholder for Medea Investments Limited, founded in Niue in 2001, and moved to Samoa five years later. The company, which issued only bearer bonds, had a capitalization of $1 million, and closed in 2009.[439] He has never previously been accused of corruption.[442]
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