When newsrooms around the world announced that they will be publishing a series of investigative reports diving into the shadowy world of tax havens, dubbed the Panama Papers, I thought to myself, “This is big. There will be change.”
And big it was — almost 11.5 million documents cataloguing the financial goings-on of 214,000 companies that have stashed cash in offshore accounts, far away from the prying eyes of pesky government tax men. These companies are owned by world leaders, dignitaries, celebrities, one percenters and more. The scope is truly staggering.
The first world leader to resign has been Iceland’s Prime Minister Sigmundur David Gunnlaugsson, who stepped down due to a conflict of interest revealed in the papers. His wife owned an undisclosed offshore company with claims on Iceland’s banks.
Many other world leaders, of course,