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David Cameron: "It was subject to all the UK taxes in all the normal ways"
What is Mossack Fonseca?
What are the Panama Papers? A guide to history's biggest data leak
THE PANAMA PAPERS ARE AN UNPRECEDENTED LEAK OF 11.5M FILES FROM THE DATABASE OF THE WORLD’S FOURTH BIGGEST OFFSHORE LAW FIRM, MOSSACK FONSECA. THE RECORDS WERE OBTAINED FROM AN ANONYMOUS SOURCE BY THE GERMAN NEWSPAPER SÜDDEUTSCHE ZEITUNG, WHICH SHARED THEM WITH THE INTERNATIONAL CONSORTIUM OF INVESTIGATIVE JOURNALISTS (ICIJ). THE ICIJ THEN SHARED THEM WITH A LARGE NETWORK OF INTERNATIONAL PARTNERS, INCLUDING THE GUARDIAN AND THE BBC.
WHAT DO THEY REVEAL?
The documents show the myriad ways in which the rich can exploit secretive offshore tax regimes. Twelve national leaders are among 143 politicians, their families and close associates from around the world known to have been using offshore tax havens.
A $2bn trail leads all the way to Vladimir Putin. The Russian president’s best friend – a cellist called Sergei Roldugin – is at the centre of a scheme in which money from Russian state banks is hidden offshore. Some of it ends up in a ski resort where in 2013 Putin’s daughter Katerina got married.
Among national leaders with offshore wealth are Nawaz Sharif, Pakistan’s prime minister; Ayad Allawi, ex-interim prime minister and former vice-president of Iraq; Petro Poroshenko, president of Ukraine; Alaa Mubarak, son of Egypt’s former president; and the prime minister of Iceland, Sigmundur Davíð Gunnlaugsson.
An offshore investment fund run by the father of British prime minister David Cameron avoided ever having to pay tax in Britain by hiring a small army of Bahamas residents to sign its paperwork. The fund has been registered with HM Revenue and Customs since its inception and has filed detailed tax returns every year.
A lengthier overview of the revelations can be found here.
WHAT IS MOSSACK FONSECA?
It is a Panama-based law firm whose services include incorporating companies in offshore jurisdictions such as the British Virgin Islands. It administers offshore firms for a yearly fee. Other services include wealth management.
WHERE IS IT BASED?
The firm is Panamanian but runs a worldwide operation. Its website boasts of a global network with 600 people working in 42 countries. It has franchises around the world, where separately owned affiliates sign up new customers and have exclusive rights to use its brand. Mossack Fonseca operates in tax havensincluding Switzerland, Cyprus and the British Virgin Islands, and in the British crown dependencies Guernsey, Jersey and the Isle of Man.
HOW BIG IS IT?
Mossack Fonseca is the world’s fourth biggest provider of offshore services. It has acted for more than 300,000 companies. There is a strong UK connection. More than half of the companies are registered in British-administered tax havens, as well as in the UK itself.
HOW MUCH DATA HAS BEEN LEAKED?
A lot. The leak is one of the biggest ever – larger than the US diplomatic cables released by WikiLeaks in 2010, and the secret intelligence documents given to journalists by Edward Snowden in 2013. There are 11.5m documents and 2.6 terabytes of information drawn from Mossack Fonseca’s internal database.
ARE ALL PEOPLE WHO USE OFFSHORE STRUCTURES CROOKS?
No. Using offshore structures is entirely legal. There are many legitimate reasons for doing so. Business people in countries such as Russia and Ukraine typically put their assets offshore to defend them from “raids” by criminals, and to get around hard currency restrictions. Others use offshore for reasons of inheritance and estate planning.
ARE SOME PEOPLE WHO USE OFFSHORE STRUCTURES CROOKS?
Yes. In a speech last year in Singapore, David Cameron said “the corrupt, criminals and money launderers” take advantage of anonymous company structures. The government is trying to do something about this. It wants to set up a central register that will reveal the beneficial owners of offshore companies. From June, UK companies will have to reveal their “significant” owners for the first time.
WHAT DOES MOSSACK FONSECA SAY ABOUT THE LEAK?
The firm won’t discuss specific cases of alleged wrongdoing, citing client confidentiality. But it robustly defends its conduct. Mossack Fonseca says it complies with anti-money-laundering laws and carries out thorough due diligence on all its clients. It says it regrets any misuse of its services and tries actively to prevent it. The firm says it cannot be blamed for failings by intermediaries, who include banks, law firms and accountants.
Panama Papers reporting team: Juliette Garside, Luke Harding, Holly Watt, David Pegg, Helena Bengtsson, Simon Bowers, Owen Gibson and Nick Hopkins
font redaction theguardian.com/news/2016/apr/03/what-you-need-to-know-about-the-panama-papers
Switzerland - black money laundry and dirty
At home with the Roma: Barefoot but still beaming, the poverty-stricken families who eke an existence in remote villages of Romania
- Roma community of Ponorata in northern Romania is home to as many as 500 people but does not appear on maps
- Few residents have access to electricity and more than 90 per cent of them are unemployed and illiterate
- Romania is home to an estimated two million Roma and until the end of the 19th Century most were kept as slaves
It doesn't appear on any map, is barely visited by authorities and its people live in almost medieval conditions.
Yet the village of Ponorata in northern Romania is home to as many as 500 Roma, who eke out an existence in abject an poverty and squalor that is almost unimaginable in Europe.
Few have access to electricity and over 90 per cent of them are illiterate and unemployed. They survive by foraging in the region, government support and day labour work.
Poverty: Sorina Prodan holds a child in the abjectly poor Roma settlement of Ponorata. Some 400 to 500 Roma live in the hamlet, which does not appear on maps
Medieval conditions: Roma pause for a photograph while riding their horse-drawn cart, which for many locals is the main means of transportation out of town
Cold comfort: Maria Vican, 64, applies mud mixed with straw to insulate the hut she shares with two other family members against the coming winter
Forgotten: Roma walk through the village, where more than 95 per cent of residents are illiterate and unemployed
Playtime: A child skips along a dirt track in Ponorata. An NGO has set up a school an and incentive system to persuade parents to allow their youngsters to attend
Denise Varga, left, seven, cuddles her puppy Anka while sitting on the doorstep of her two-room hut. Right, local youth Mando holds his young relative Alexandru Lingurar
Marinela Boldis holds up a photo showing her late husband and their two children: Marinela and her family spent eight months in France, begging and living off government child payments, until her husband became ill and died after they returned to Romania, leaving her to raise their children alone
Traditional lifestyles: Young mother Claudia Varga holds her infant daughter Raluca as a youth leads a donkey past in the background
Panorata's people live in almost medieval conditions. Their dirt-floored, single-room wooden huts, insulated with a mixture of mud and straw, house families of up to 15.
Some have been to France, mostly to the city of Lille, where they made enough money through begging and scrap metal collecting to build small brick houses.
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Most residents, however, live in one or two-room huts made of wood, mud and straw that sometimes collapse.
A single well serves the entire community, which is rarely visited by outsiders. Administrative responsibility lies with the nearby city of Coroieni, but locals say this extends to little more than occasionaly drive-through visits by officials.
For the Roma, horse-drawn carts are their main means of transport if they want to travel any further than the confines of their own community.
Remote: The village is situated along a single proper road, houses arrayed on either side. Some are built with modern building materials, indicating wealth and status
A horse stands in front of a relatively well-to-do home: Those with brick houses have generally returned to Ponorata with modest sums of money made overseas
Enterprise: Local Roma men attend a horse sale. Many Roma from Ponorata have spent time in France to earn money, mostly through begging and scrap metal collection
For sale: Horses belonging to the local Roma Varga family stand chained to a cart during the horse sale
Pamela Prodan, left, who is a mother of two, and her sister-in-law Sorina Prodan pause while Pamela holds one of her children and the hand of a relative's child in the left hand image. Pictured left, local children Calin Istvan, right, and Rocsana Nicoleta Varga pose for a photo
Rustic: Claudia Erdelyi, Damian Augustin and Eugen Erdelyi (pictured left to right) pose for a photograph in the rolling meadows surrounding Ponorata
Eking out an existence: Romeo Moldovan, his wife Smocina Boldis and their infant daughter Daria stand outside their one-room wood, straw and mud hut
Smocina Boldis breast feeds her infant daughter Daria: Romania has the biggest population of Roma in Europe, with estimates of up to two million living there
Romeo and Smocina pose for another picture, left. Right, Ion Varga collects water from the hamlet's single well as his relatives Claudia Gianina and Darius Varga look on
Discrimination: Roma are regarded with suspicion by other Romanians and tensions frequently boil over into clashes with neighbouring communities
Chores: A young girl carrying a bucket of water from the single community well walks up Ponorata's only street as others care for a youngster nearby
But the people of Ponorata are not merely victims of indifference and isolation, but also an outright hostility that occasionally boils over into clashes with the authorities and the residents of nearby settlements.
A few years ago, a murder took place in a neighbouring village and several Roma homes were burned in response. Romanians living nearby also blame the Roma for robberies which often target drivers travelling through the region.
Romania has the biggest population of Roma in Europe, with estimates of up to two million living there.
They have a tragic history: right up until the mid-19th Century the vast majority of Romania's Roma were kept as slaves. During the Second World War as many as 1.5million Roma were exterminated by the Nazis and their allies.
Cramped conditions: Veronika Varga and other members of her family look out from the doorway of the one-room wood hut they share with other family members
Hand to mouth: Pregnant Genoveva Lingurar feeds her son Alexandru a potato baked in a campfire as her other son Andrei approaches
Andrei Lingurar whittles with a knife: The people of Ponorata survive by foraging in the region, government support and day labour work
Difficult living conditions: Genoveva holds her son Alexandru in the makeshift and temporary home she shares with her husband and seven children
Dingy: Maria Petrisur breast feeds one of her children in the one-room wood, mud and straw hut she shares with her family
But well decorated: Livia Lungarare poses for a photo with her husband in their two-room home in the left-hand image. Right, locals ride a horse-drawn cart
A baby lies tightly swaddled in a one-room home: Romanians, including members of the country's Roma minority, will from next year be free to move to the UK
It's not all grim: Senorita Molodvan, left, her sister Petronela, and their relative Flutor Boldis and his daughter Sedonia pose for a photo in relatively well-to-do two-room home they share with other family members
Andrea-Maria, left, and Valeria sit next to the only street that goes through Ponorata: Locals say their community is hardly visited by local officials and gets next to no help
Roma ride by the youngsters in a horse-drawn cart: Many Roma have tried to escape the cycle of poverty in Romania by travelling to live overseas
Traffic jam: Ponorata residents approach each other in horse-drawn carts travelling along the town's single road
With officials in their own country apparently content to leave them to their fate and their neighbours openly hostile to their presence, it is no wonder that hundreds of thousands of Roma have sought a better life abroad.
Already as many as half a million are estimated to have taken up residence in France, according to the European Roma Rights Centre.
The racism they face in their homeland has followed them. Hostility towards the Roma is said to be contributing to the most recent re-emergence of French National Front.
Romanians, including members of the country's Roma minority, will from next year be free to move to the UK as part of the European Union policy of free movement for workers.
Family photo: Members of the Varga family, who spent a year in France before taking money from the French government to leave, gather near their home
This way! Sisters Maria-Gianina and Mihaela-Rocsana Erdelyi head home after attending a preschool class
Tumbledown: Livia Moldovan, 60, sits on the doorestep of her leaning home. The badly constructed homes of Ponorata's residents fall down from time to time
Working animals: Marina Boldis greets local dogs as Randafir Boldis and his son Malin shoe a horse outside their home
Pamela Prodan stands outside a family hut: The dirt-floored, single-room wooden huts, insulated with a mixture of mud and straw, house families of up to 15
Help: Leslie Hawke, mother of actor Ethan Hawke, and Maria Gheorghiu (red hair), co-founders of Romanian NGO OvidiuRo, lead children home after a pre-school class
Respite: OvidiuRo's Nadia Gavrila, left, supervises children playing with blocks in a pre-school class that is aimed to break Ponorata's cycle of poverty and illiteracy
Ms Gheorghiu teaches young Roma children: OvidiuRo is seeking to enroll the children of Ponorata in kindergarten through a coupon incentive system for the parents
Cute: Young Roma children count with their fingers during their preschool class
Heads, shoulders, knees and toes: Ms Gheorghiu teaches young Roma children parts of the body
Origins: Linguistic and genetic evidence indicates the Roma originated from the Indian subcontinent, emigrating from India toward the north-west 1,500 years ago
But there are efforts to help them in their homeland. In an effort to break the generational cycle of illiteracy, chronic unemployment and squalor, a Romanian NGO called OvidiuRo is seeking to enroll the children of Ponorata in kindergarten through a coupon incentive system for the parents.
Leslie Hawke, the mother of American actor Ethan Hawke, who first came to Romania while serving in the Peace Corps in 2000, co-founded OvidiuRo along with Maria Gheorghiu, and both of them visited Ponorata recently.
But Viorica Pert, a teacher at Ponorata's school, told Romanian paper Gazeta de Maramures that she and colleagues struggle to get positive results from youngsters in a community struggling for daily survival.
Although many of the pupils see teaches show promise, 'many drop out of school after fifth grade because they marry or have [other] activities,' she said.
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font redaction dailymail.co.uk/news/article-2424296/At-home-Roma-Remote-villages-people-struggle-terrible-poverty-continue-traditional-way-life.html
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