Every Ramadan he fed 500 people; he financed about 20 pilgrimages to Mecca every year. Described as a billionaire, Seydou Kane holds diplomatic passports from Senegal, Gabon and Mali. The protocol officer of the Senegalese Embassy in Paris was waiting for him when his plane landed at Roissy-Charles-de-Gaulle in November 2015. But Kane, a close associate of the Gabonese ruling family, was questioned and jailed in Nanterre for ten hours by anti-corruption agents in connection with an investigation opened in July 2007.[455]


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 has a tropical climate. Temperatures are uniformly high—as is the relative humidity—and there is little seasonal variation. Diurnal ranges are low; on a typical dry-season day in the capital city, the early morning minimum may be 24 °C (75.2 °F) and the afternoon maximum 30 °C (86.0 °F). The temperature seldom exceeds 32 °C (89.6 °F) for more than a short time. Temperatures on the Pacific side of the isthmus are somewhat lower than on the Caribbean, and breezes tend to rise after dusk in most parts of the country. Temperatures are markedly cooler in the higher parts of the mountain ranges, and frosts occur in the Cordillera de Talamanca in western Panama.

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]


The Pacific coastline is extended by the Azuero Peninsula and the Gulf of Panama and by numerous headlands and bays, whereas the largest embayment on the Caribbean side is Chiriquí Lagoon. The Pacific coastline is more indented and irregular, and its continental shelf is much wider than that on the Atlantic side. In addition, most of the republic’s more than 1,600 islands lie off its Pacific coast; they include the Perlas Archipelago (Pearl Islands) and the islands of Taboga, Cébaco, Parida, Jicarón, and Coiba, the largest. The principal archipelagoes off the Caribbean coast are those of Bocas del Toro and San Blas.
The Pacific coastline is extended by the Azuero Peninsula and the Gulf of Panama and by numerous headlands and bays, whereas the largest embayment on the Caribbean side is Chiriquí Lagoon. The Pacific coastline is more indented and irregular, and its continental shelf is much wider than that on the Atlantic side. In addition, most of the republic’s more than 1,600 islands lie off its Pacific coast; they include the Perlas Archipelago (Pearl Islands) and the islands of Taboga, Cébaco, Parida, Jicarón, and Coiba, the largest. The principal archipelagoes off the Caribbean coast are those of Bocas del Toro and San Blas.
A 2012 investigation, by Radio Free Europe and the Organized Crime and Corruption Reporting Project (OCCRP) discovered that through overseas holding companies, the daughters of Azerbaijani president Ilham Aliyev owned an interest in a gold mine operation created by a 2006 presidential decree forming a consortium, then awarding it a 30-year lease over environmental and transparency objections in Parliament.[327]

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]

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.[201]


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.
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.
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]
The dominant feature of Panama's geography is the central spine of mountains and hills that forms the continental divide. The divide does not form part of the great mountain chains of North America, and only near the Colombian border are there highlands related to the Andean system of South America. The spine that forms the divide is the highly eroded arch of an uplift from the sea bottom, in which peaks were formed by volcanic intrusions.
The Procuraduría de la Nación announced that it would investigate Mossack Fonseca and the Panama papers.[146] On April 12, the newly formed Second Specialized Prosecutor against Organized Crime raided Mossack Fonseca and searched their Bella Vista office as part of the investigation initiated by the Panama Papers. The Attorney General's office issued a press release following the raid, which lasted 27 hours,[147] stating that the purpose was "to obtain documents relevant to the information published in news articles that establishes the possible use of the law firm in illegal activities".[148] The search ended without measures against the law firm, confirmed prosecutor Javier Caraballo of the Second Prosecutor Against Organized Crime.[149]

The city was founded on August 15, 1519, by Pedro Arias de Ávila, also known as Pedrarias Dávila. Within a few years of its founding, the city became a launching point for the exploration and conquest of Peru and a transit point for gold and silver headed back to Spain through the Isthmus. In 1671 Henry Morgan with a band of 1400 men attacked and looted the city, which was subsequently destroyed by fire. The ruins of the old city still remain and are a popular tourist attraction known as Panamá la Vieja (Old Panama). The city was rebuilt in 1673 in a new location approximately 5 miles (8 km) southwest of the original city. This location is now known as the Casco Viejo (Old Quarter) of the city.


Panama still has a reputation worldwide for being a tax haven but has agreed to enhanced transparency, especially since the release in 2016 of the Panama Papers. Significant progress has been made to improve full compliance with anti-money laundering recommendations. Panama was removed from the FATFGAFI gray list in February 2016. However efforts remain to be made, and the IMF repeatedly mentions the need to strengthen financial transparency and fiscal structure.[60]
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.
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.[427]
The ICIJ investigation of Mossack Fonseca was reported to the Public Ministry. Samid Dan Sandoval, former candidate for mayor of Santiago de Veraguas (2014), filed the legal action against the journalists and all those who had participated. He said the project name damaged the integrity, dignity and sovereignty of the country and that the consortium would have to assume legal responsibility for all damage caused to the Panamanian nation.[151]
In the late 1970s through the 1980s the city of Panama became an international banking center, bringing a lot of undesirable attention as an international money-laundering locale. In 1989 after nearly a year of tension between the United States and Panama, President George H. W. Bush ordered the invasion of Panama to depose General Manuel Noriega, the country's de facto dictator. As a result, a portion of the El Chorrillo neighborhood, which consisted mostly of old wood-framed buildings dating back to the 1900s (though still a large slum area), was destroyed by fire. In 1999, the United States officially transferred control of the Panama Canal Zone to Panama, which remains in control today.[6]
As of the 2000 census, the city's median household income was $31,572, and the median income for a family was $40,890. Males had a median income of $30,401 versus $21,431 for females. The city's per capita income was $17,830. About 12.1% of families and 17.2% of the population were below the poverty line, including 24.5% of those under age 18 and 14.9% of those age 65 or over.
Former Deputy Chief Justice Kalpana Rawal was a director or shareholder in four holding companies and was active in two after she took office. Her husband owns another seven. The companies were used for real estate transactions in Britain. Rawal and her husband were shareholders and directors of Highworth Management Services, where Ajay Shah, a former director of Trust Bank, was also a shareholder and director. The Central Bank of Kenya ordered Shah's assets auctioned to repay depositors after Trust Bank collapsed, but he went into hiding and the assets have not been recovered.[461]
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.
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]
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]
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]
Private Eye revealed that Edward Troup, appointed executive chair of HMRC in April 2016, was a former partner with Simmons & Simmons, the London-based legal firm whose clients included the Panama-registered fund created by David Cameron's father, Blairmore Holdings.[318][319] Papers obtained by the Süddeutsche Zeitung and ICIJ reveal Simmons & Simmons' close relationship with running offshore companies and major overseas property owners, including an investment company run on behalf of Sheikh Hamad bin Abdullah Al Thani, while Troup was its senior tax partner.[320]
Panama City is located at 30°10′28″N 85°39′52″W (30.174451, -85.664480)[10] within the Florida Panhandle and along the Emerald Coast. According to the United States Census Bureau, the city limits encompass an area of 35.4 square miles (91.8 km2), of which 29.3 square miles (75.8 km2) is land and 6.2 square miles (16.0 km2), or 17.39%, is water.[11]

Octea's subsidiary, Koidu Holdings, obtained the mine for $28 million, which was supposed to be a deposit, in 2002. Fighting had stopped in Sierra Leone, and the mine had previously been held and worked by South African firm Branch Energy, in payment for the services of its parent company, Executive Outcomes, "effectively...a military battalion for hire,"[474] against rebel fighters in the area. Steinmetz has since put $300 million into the project.[475]


A project to build a third set of locks for the Panama Canal A was overwhelmingly approved in a referendum (with low voter turnout, however) on October 22, 2006. The official estimated cost of the project is US$5.25 billion, but the canal is of major economic importance because it provides millions of dollars of toll revenue to the national economy and provides massive employment. Transfer of control of the Canal to the Panamanian government completed in 1999, after 85 years of US control.
The group of documents was referred to as the "Panama Papers" because of the country that they were leaked from. However, the government of Panama has registered strong objections to the name, as it appears to put some blame or negative association on the country itself, despite its lack of involvement in the actions of Mossack Fonseca. Nonetheless, the nickname has persisted, although some media outlets that have covered the story have referred to as the "Mossack Fonseca Papers."
Three Mossack Fonseca companies started for clients of Helene Mathieu Legal Consultants were later sanctioned by the US Treasury's Office of Foreign Assets Control (OFAC). Pangates International Corporation was accused in July 2014 of supplying the government of Syria with "a large amount of specialty petroleum products" with "limited civilian application in Syria". The other two, Maxima Middle East Trading and Morgan Additives Manufacturing Co, and their owners Wael Abdulkarim and Ahmad Barqawi, were said to have "engaged in deceptive measures" to supply oil products to Syria.[100]
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]
In addition to the much-covered business dealings of British prime minister David Cameron and Icelandic prime minister Sigmundur Davíð Gunnlaugsson, the leaked documents also contain identity information about the shareholders and directors of 214,000 shell companies set up by Mossack Fonseca, as well as some of their financial transactions. It is generally not against the law (in and of itself) to own an offshore shell company, although offshore shell companies may sometimes be used for illegal purposes.
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]
Public education began in Panama soon after it seceded from Colombia in 1903. The first efforts were guided by an extremely paternalistic view of the goals of education, as evidenced in comments made in a 1913 meeting of the First Panamanian Educational Assembly, "The cultural heritage given to the child should be determined by the social position he will or should occupy. For this reason education should be different in accordance with the social class to which the student should be related." This elitist focus changed rapidly under US influence.[82]
Leader of the Opposition Jeremy Corbyn said "The government needs to stop pussyfooting around on tax dodging"[311] and called for "direct rule" to be imposed over British Overseas Territories and Crown dependencies that act as tax havens.[312] Former Business Secretary Vince Cable agreed, although former attorney general Dominic Grieve described the proposal as a "bit of a nuclear option"[313] which would "destroy the livelihoods" of BVI inhabitants in the finance industry.[314] The Labour Party also said that Cameron's planned "anti-corruption" summit in May[315] would be "a charade" if Cameron, as chairman of the summit, did not require representatives of all Crown dependencies and overseas territories to attend.[316]
Since the end of the 20th century, association football has become more popular in Panama.[citation needed] The top tier of domestic Panamanian football, Liga Panameña de Fútbol, was founded in 1988. The national team appeared at the FIFA World Cup for the first time in 2018, appearing in group G, facing Belgium, England and Tunisia. However, the team lost all three games, failing to advance past the group stage. Notable players for the national team include Luis Ernesto Tapia, Rommel Fernández, the Dely Valdés Brothers: Armando, Julio and Jorge; and more recent players as Jaime Penedo, Felipe Baloy, Luis Tejada, Blas Pérez, Román Torres and Harold Cummings.
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