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On Top Of The News Email:news@arubatoday.com website: www.arubatoday.com Tel:+297 582-7800 Tuesday, April 5, 2016

“Panama Papers” Dump Sends Shockwaves Around World

DAVID McHUGH
FRANK JORDANS
Associated Press
FRANKFURT, Germany (AP)
— A leak of 11.5 million
documents from a Pana-
ma-based law firm offers
a glimpse into the shad-
owy world where the rich
and powerful hide their
money, raising sharp ques-
tions about the use of shell
companies that obscure
the identities of their true
owners.
Leaders of the Group of
20 — representing about
80 percent of the global

A marquee of the Arango Orillac Building lists the Mossack Fonseca law firm in Panama City, Monday, April 4, 2016. Panama’s presi-

dent says his government will cooperate “vigorously” with any judicial investigation arising from the leak of a vast trove of informa-

tion on the offshore financial dealings of the world’s rich and famous. An international coalition of media outlets Sunday published

investigations it said stemmed from the leak of 115 million records kept by the Panama-based law firm Mossack Fonseca on behalf

of clients. (AP Photo/Arnulfo Franco)

economy — have vowed By themselves, shell com- News organizations working Mossack Fonseca law firm
to crack down on the panies aren’t illegal. Coun- with the Washington-based that were first leaked to
practice, which is blamed tries have tightened rules International Consortium the Sueddeutsche Zeitung
for helping conceal money on using them — but not of Investigative Journal- newspaper based in Mu-
laundering, corruption and enough to satisfy anti-cor- ists have been processing nich, Germany.
tax evasion. ruption activists. the legal records from the
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