Eight years after the global financial scandal “Panama Papers” was exposed, the first trial against 27 defendants began in Panama City.
Also appearing in court was the co-owner of the now-liquidated Panamanian law firm Mossack Fonseca, German-born lawyer Jürgen Mossack.
The trial in Panama is scheduled to last three weeks.
The defendants are accused of laundering money by setting up 215,000 shell companies in tax havens where politicians, celebrities and athletes are said to have hidden their assets.
In the spring of 2016, the newspaper Süddeutsche Zeitung and other media outlets affiliated with the Investigative Journalists Network (ICIJ) exposed the workings of shell companies established in Panama. As a result of the massive data leak, 11.5 million documents were leaked to the newspaper. Nearly 400 reporters from more than 80 countries participated in the research.
Among other things, the names of 140 politicians and their close associates appeared. In Iceland, the publication led to the resignation of the Prime Minister. The Prime Minister of Pakistan has been removed from office.
Additional income in millions
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The International Consortium of Investigative Journalists won the highest award in American journalism, the Pulitzer Prize, in 2017 for the Panama Papers revelations. This revelation led to tax investigations in several countries, and subsequently generated millions of dollars in additional tax revenue.
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