Unprecedented Document Leak Shows How Powerful People Hide Their Money
An anonymous person leaked 11 million documents describing how the world's rich and powerful hide money in offshore tax havens.
A leak of 11 million documents has revealed the many ways the world's rich and powerful hide their wealth using offshore tax havens.
The documents — known as the Panama Papers — were leaked to German newspaper Süddeutsche Zeitung and include internal files from Panamanian law firm Mossack Fonseca, one of the world's largest offshore law firms.
News outlets around the world analyzed the files, which cover about 40 years starting from the 1970s. Their reports say the law firm helped clients dodge taxes and may have helped with money laundering and even avoiding sanctions.
The files show connections with 72 current and former heads of state, many of whom appear to have links to shell companies.
They also implicate associates of Russian President Vladimir Putin who are reportedly running a billion-dollar money-laundering ring. Money from Bank Rossiya was moved through offshore companies, a few of which were owned by Putin's close friend cellist Sergei Roldugin.
Mossack Fonseca responded to the leak, saying it has "operated beyond reproach" for 40 years and that its services are used for legitimate reasons. It isn't known who leaked the documents.
At the Illinois Holocaust Museum, survivor memories are still alive
Scripps News revisits the Illinois Holocaust Museum to hear from a survivor whose likeness and memories are preserved in holographic form.By Scripps News
Russian attacks on Ukraine reported; tank training to start
The attacks came after Germany and the United States announced they would send advanced battle tanks to Ukraine.By Daniel Cole / AP
Former colleague: Charged FBI agent jeopardizes major investigations
Former CIA officer Tracy Walder spoke with Scripps News about what could be one of the worst cases of an FBI official undermining the bureau.By John Minchillo / AP
Where Gen Z gets its news: social media
A 2022 poll shows the favorite news source for Gen Z is social media.By Martin Meissner / AP
Federal funding helps Jackson, Mississippi address water crisis
A Jackson restaurant owner shares what the millions headed to the city could do to help businesses like his deal with aging infrastructure.By AP
Inside the chaotic system of New York's immigration services
Lack of information, guidance and a language barrier are just a few issues migrants face while waiting sometimes overnight in lines.By Scripps News