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the Panama papers scandal

Alexy AGNIER

Created on October 18, 2023

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Transcript

The Panama Papers Scandal

Fiona Vatuone & Alexy Agnier

Start

Summary

I/ Glossary

II/ The facts

III/ revelation of the case

IV/ Consequences of the scandal

V/ The state of the investigations

I/ The Glossary

  • Offshore companies
  • Tax haven
  • Tax evasion
  • Whistle-blower

II/ The facts

The Panamanian offshore law firm and corporate service provider Mossack Fonseca

  • 500 employees around the world
  • Objectives : Creation of Offshores society
  • 4th largest law firm in the creation of offshore companies
  • works with major banking institutions (HSBC, Société Générale, etc.)

What's illegal in this case ?

Usage of the Offshore societies :

  • Concealement of illegal activities
  • Money laundering
  • Tax evasion
  • Benefit from the advantageous taxation of Panama

III/ Revelation of the case

  • In 2015 the whistleblower contacted the German newspaper Süddeutsche Zeitung
  • The data leak concerns documents from 1970 to 2015
  • involves more than 214 000 offshore companies

What was leaked ?

  • The Süddeutsche Zeitung transmits the data to the ICIJ
  • Creation of a database
  • The ICIJ sets up a search engine for journalists
  • Journalists agree on a common date for publication of the case on April 3, 2016

French personalities and companies involved in the case

1997-2002 La dernière cohabitation

The French Bank : Société Générale

Patrick Balkany

Jerome Cahuzac

Michel Platini

Jerome Cahuzac

IV/ Consequences of the scandal

the whole world is shocked by the revelation of the panama papers

International personalities involved in the case

Consequences relating to the law firm

  • in 2018 : the law firm is forced to shut down by Authorities
  • Jurgen Mossack and Ramon fonseca were sentenced to 2 month of imprisonment
  • since 2020 the two associates are the subject of an international arrest warrant

Money recovered by tax authorities

What consequences for the Whistleblower ?

  • we still don't know he is
  • russian government "want so see him dead
  • if he is found, he risks legal proceedings like other whistleblowers, such as Julian Assange

V/ The state of the investigations

There was two other major data leaks of offshore activities

A movie was produced about the Panama Papers

Legal consequences

Thank you for listening !

Debate time

For you, should the creation of offshore companies be more controlled or even prohibited ?

Do you think that whistleblowers should be better protected or even encouraged to denounce actions ?