![]() ![]() While Russian President Vladimir Putin isn't directly implicated in the leaked documents made public so far, many members of his close personal circle are - a network of rich, powerful friends explored by The Guardian. Those assertions did little to quell the controversy." "He also said his financial holdings didn't affect his negotiations with Iceland's creditors during the country's acute financial crisis. ![]() "Gunnlaugsson said he and his wife paid all their taxes and have done nothing illegal," The Associated Press reports. The Panama Papers say that Sigmundur David Gunnlaugsson and his wife had secretly set up offshore accounts through a shell company that was seeking money from failed Icelandic banks that received government bailout funds. A statement from his office issued later says he has not resigned, but has suggested that a representative from his party take over the office "for an unspecified amount of time." The prime minister of Iceland stepped aside on Tuesday after widespread outrage and massive street protests. In some countries, though, they're being met by a different kind of resignation - a familiar sigh, and collective shrug. The team of journalists has said it would release a full list of people and corporations involved next month.Īround the world, the revelations are prompting public backlash, official investigations and at least one high-profile resignation. But the accounts can be used to launder money or hide incriminating connections. On Sunday, the German paper Süddeutsche Zeitung and members of the International Consortium of Investigative Journalists began publishing stories linking titans of business and politics - including 12 former and current heads of state - to secret offshore bank accounts and shell companies set up by Mossack Fonseca.Īs we reported Monday, much of the behavior revealed by the leaked documents isn't itself a crime - it's legal to have offshore bank accounts. The Two-Way Panama Papers: Here's What You Need To Know (So Far)įor more than a year, a huge team of international investigative journalists sifted through the data. ![]()
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