© Global Research
The International Consortium of Investigative Journalists (ICIJ) calls itself an initiative "focusing on...cross-border crime, corruption, and the accountability of power."
Its financial backers include the Open Society Foundations, the Ford Foundation, Australian billionaire Graeme Wood and other sources.
It was used to facilitate the
largest ever financial leak, a reported 11.5 million documents, revealing secret offshore holdings of current and former world leaders, along with numerous other high-profile public and private figures.
© Global Research
The Panama-based Mossack Fonseca law firm is at the heart of the scandal, quietly providing services for high-profile clients, including apparently hiding wealth in tax havens, making money trails murky in the process.
No current or earlier Western leaders or officials so far were named, only UK prime minister David Cameron's father, Ian. Is evidence of their possible tax avoidance, money laundering or other illegal or suspect activities being concealed?
According to
Forbes magazine, America had 536 billionaires in 2015, Western European countries hundreds more.
ICIJ revealed information on 140 politicians from over 50 countries with wealth hidden in 21 tax havens. They include "heads of state, their associates, ministers (and) elected officials."
Key national leaders named include Argentine president Mauricio Acri, former Georgia prime minister Bidzina Ivanishvili, Saudi Arabia's king Salman, other current and former Middle East leaders, and US-installed Ukrainian president Petro Poroshenko.
Yet ICIJ's Panama Papers report prominently featured Putin's image, alleging his ties to an "offshore network," despite no evidence suggesting it.
Comment: In spite of obvious problems, the EU has Turkey/Erdogan right where it wants it...the state that will do anything, including criminal activity, to become a member. If controlled, this can be 'useful'. However, Erdogan is a tyrannical and deranged extremist, meaning his rapidly increasing detriments will short-circuit his 'value'; he is a candidate for an international human rights violations tribunal; and, perceived as a global pariah, he shall kiss the grail of EU membership g'bye.