The original Panama Papers leak took place in 2015, with the information then released in 2016 detailing financial and solicitor–client information concerning more than 214,000 offshore entities.
Some of these offshore entities are entirely legal. Other documents link high-profile figures around the world, such as the then-Prime Minister of Iceland, the King of Saudi Arabia and the Prime Minister of Pakistan to shell companies and investments. Icelandic Prime Minister Sigmundur David Gunnlaugsson resigned after the papers were released. In Canada, none of the funds have been recovered yet by the Canadian Revenue Agency, who told a media outlet earlier this year they were auditing 123 people and companies as a result of the leak.
The Mossack Fonseca firm itself closed in March of this year, after the firm’s founders Ramon Fonseca and Juergen Mossack were charged in Brazil in relation to allegations of money laundering and corruption, in 2017. They are still