Panama Papers

Mulino becomes Panama President with support from convicted former leader

Mulino, a pro-business right-wing politician, faces a daunting task of mending social divisions and regaining the faith of an electorate fed up with political graft

Panama Papers: From Singapore to Switzerland, which are the top tax havens?

The Panama Papers trial, which concluded on Friday, has once again brought the topic of tax havens into focus. Here are things you need to know about them

Panama Papers: Trial's public portion comes to an unexpectedly speedy end

The public portion of a trial of more than two-dozen associates accused of helping some of the world's richest people hide their wealth came to an unexpectedly speedy conclusion on Friday when a Panamanian judge said she would take the two weeks of trial arguments and testimony under advisement. The trial came eight years after 11 million leaked secret financial documents that became known as the Panama Papers prompted the resignation of the prime minister of Iceland and brought scrutiny to the then-leaders of Argentina and Ukraine, Chinese politicians, and Russian President Vladimir Putin, among others. Judge Baloisa Marquinez noted on Friday that the case included more than 530 volumes of information. The public trial had been expected to run to the end of the month. The judge has 30 working days to issue a verdict. Those on trial include the owners of the Mossack Fonseca law firm that was at the heart of the 2016 massive document leak. Jrgen Mossack attended the trial, while his

Trial underway for Panama Papers, case that changed financial rules

Eight years after 11 million leaked secret financial documents revealed how some of the world's richest people hide their wealth, more than two dozen defendants are on trial in Panama for their alleged roles. The repercussions of the leaks were far-ranging, prompting the resignation of the prime minister of Iceland and bringing scrutiny to the then-leaders of Argentina and Ukraine, Chinese politicians and Russian President Vladimir Putin, among others. But those on trial now for alleged money laundering are principally the leaders and associates of the now defunct Panamanian boutique law firm that helped set up the shell companies used to obscure those really behind them. The leaders of that firm, Jrgen Mossack and Ramn Fonseca, are among those on trial. WHAT IS THE PANAMA PAPERS CASE ABOUT? Panamanian prosecutors allege that Mossack, Fonseca and their associates created a web of offshore companies that used complex transactions to hide money linked to illicit activities in the ca

'Panama Papers' trial starts; 27 people charged in money laundering case

The trial of 27 people charged in connection with the worldwide Panama Papers money laundering started Monday in a Panamanian criminal court. Those on trial include the owners of the Mossack-Fonseca law firm that was at the heart of the 2016 massive document leak. The Panama Papers include a collection of 11 million secret financial documents that illustrate how some of the world's richest people hide their money. The repercussions of the leaks have been far-ranging, prompting the resignation of the prime minister of Iceland and bringing scrutiny to the leaders of Argentina and Ukraine, Chinese politicians and Russian President Vladimir Putin, among others. The often-delayed trial opened Monday, with lawyers Juergen Mossack, Ramn Fonseca and other ex-employees of the firm facing money laundering charges. Mossack was present in the courtroom; lawyers for Fonseca said he was in a hospital in Panama. The case centers on allegations the firm set up shell companies to acquire properti

Panama becomes 97th member of International Solar Alliance: MEA

Panama has officially ratified the International Solar Alliance (ISA), marking its entry as the 97th member nation. The information was divulged by Randhir Jaiswal, spokesperson of the Ministry of External Affairs.In a post on X, Randhir Jaiswal @MEAIndia tweets, "Panama becomes the 97th member to ratify the ISA. Panama handed over the Instrument of @isolaralliance Ratification, during the meeting of Ambassador Yasiel Burillo of Panama to India, with Joint Secretary (Economic Diplomacy) @Abhishekifs in New Delhi today."Panama's commitment to sustainable energy was underscored as Ambassador Yasiel Burillo presented the Instrument of Ratification to Joint Secretary (Economic Diplomacy) Abhishekifs during a meeting in New Delhi today.This formal act solidifies Panama's pledge to collaborate within the framework of the ISA, joining other nations in the pursuit of harnessing solar energy for a greener future.Joint Secretary (ED & MER), MEA Abhishek Singh expressed gratitude for ...

ED files charge sheet against man named in Panama Papers for foreign assets

The Enforcement Directorate on Saturday said it has filed a charge sheet under the anti-money laundering law against a man, whose name figured in the Panama Paper leaks, for alleged possession of undisclosed assets abroad. The prosecution complaint against Sanjay Vijay Shinde, his wife Aparna and a company named Venus Bay Offshore Ltd. was filed before a special Prevention of Money Laundering Act (PMLA) court in Bhopal on October 18 and the court took cognisance of the charge sheet on Friday, the federal agency said. The money laundering case against Shinde stems from an Income Tax Department charge sheet that was filed earlier under the anti-black money law. The I-T department acted against the man as part of its probe into the Panama Papers leak. Dubbed 'Panama Papers', an investigation of a stockpile of records from Panamanian legal firm Mossack Fonseca by the Washington-based International Consortium of Investigative Journalists (ICIJ) in 2016 had named several world leaders an

Vietnam-era whistleblower Ellsberg, who leaked Pentagon Papers, dies at 92

Daniel Ellsberg, the history-making whistleblower who by leaking the Pentagon Papers revealed longtime government doubts and deceit about the Vietnam War and inspired acts of retaliation by President Richard Nixon that helped lead to his resignation, has died. He was 92. Ellsberg, whose actions led to a landmark First Amendment ruling by the Supreme Court, had disclosed in February that he was terminally ill with pancreatic cancer. His family announced his death Friday morning in a letter released by a spokeswoman, Julia Pacetti. He was not in pain, and was surrounded by loving family, the letter reads in part. Thank you, everyone, for your outpouring of love, appreciation and well-wishes to Dan in the previous months. It all warmed his heart at the end of his life. Until the early 1970s, when he disclosed that he was the source for the stunning media reports on the 47-volume, 7,000-page Defense Department study of the U.S. role in Indochina, Ellsberg was a well-placed member of the

Panama Papers: ED seizes Rs 2.74 cr assets of Kolkata business family

The Enforcement Directorate (ED) on Monday said it has seized Rs 2.74 crore worth assets of a Kolkata-based business family which allegedly held a Swiss bank account and whose name figured in the Panama Papers leak. The properties, seized under the Foreign Exchange Management Act (FEMA), include fixed deposits, bank balance and land at Kolkata belonging to Shyama Prasad Murarka (deceased) and Sanjay Murarka, the agency said. Panama Leaks stated that Shyama Prasad Murarka and Sanjay Murarka were "directors and shareholders in a company called Billipack Limited that was incorporated in the British Virgin Islands", it said. The Murarkas were the "beneficiaries in the bank account of Billipack Limited maintained with HSBC, Switzerland. The investigation found that the Murarka family was holding assets in the form of foreign exchange in various accounts with HSBC Switzerland in their name and in the name of Billipack Limited in contravention of FEMA". The Panama Papers is referred to an

Goa, Bhopal Income Tax raids linked to leaked Panama Papers, says ED

Days after Enforcement Directorate sleuths searched the premises of a renowned business house at Dempo House here on May 9, the central agency on Friday in a statement said that the operation was connected with a money laundering case registered against one Sanjay Shinde.

Panama Papers leak case: ED conducts raids at 4 places in Goa, MP

In a latest development in connection with the Panama Papers leak case, the Enforcement Directorate (ED) on Friday conducted searches at four premises in Bhopal and Goa in a money laundering case registered against one Sanjay Vijay Shinde.

Selling shares during talks to Panama Papers: The story of Cairn retro tax

Govt last month refunded about Rs 79 bn it collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds to settle 8 yr dispute

'Panama Papers' case: Aishwarya Rai Bachchan grilled by ED for 6 hours

The ED recorded Aishwarya Rai Bachchan's statement under the provisions of the Foreign Exchange Management Act

Actor Aishwarya Rai Bachchan appears before ED in 'Panama Papers' leak case

The 48-year-old daughter-in-law of superstar Amitabh Bachchan is being questioned by the agency under the provisions of FEMA

Rs 20,353 cr undisclosed credits detected in Panama, Paradise leaks: Govt

Some Indian names have been released in the media which are allegedly linked to the Pandora Papers Leak

Govt detects undisclosed income of Rs 20,078 crore in Panama Leak

Besides the Panama Leak, the government also detected undisclosed credits of about Rs 246 crore in Paradise Papers Leaks and Rs 11,010 crore in ICIJ cases

Public, private sector banks disburse loans worth Rs 1.42 trn under ECLGS

About Rs 1.98-trillion loans have been sanctioned by the banks to MSMEs, Parliament was informed

Pakistan PM Imran Khan appoints his lawyer as head of state-run channel PTV

Bukhari and Nadeem are over 65 and, therefore, the ministry had sought relaxation from the federal cabinet regarding their age

A civil law is preventing ED from probing individuals named in global leaks

This peculiar situation has prevented the agency from going after certain entities named in these global leaks

ED can withhold names of tax evaders mentioned in Panama Papers: CIC

The RTI Act exempts certain intelligence and security organisations from the ambit of the transparency law unless the information pertains to allegations of corruption and human rights violations