The International Consortium of Investigative Journalists (ICIJ) is reportedly planning a second release of Panama Papers, data about some of the world’s wealthiest people.
The group already caused worldwide controversy by releasing information about how a range of business leaders, politicians, and celebrities avoided taxes by storing money in overseas tax havens.
On Wednesday the ICIJ confirmed that it would release another tranche of data on May 9th which “will likely be the largest ever release of secret offshore companies and the people behind them.” Moreover, the second release of information will be in a searchable database.
“The searchable database will include information about more than 200,000 companies, trusts, foundations, and funds incorporated in 21 tax havens, from Hong Kong to Nevada in the United States,” the group stated.
The original findings of the investigation were released in April, having examined 28,000 documents that revealed the full extent of tax evasion by 340 companies.
Figures exposed included the likes of Spain’s acting industry minister Jose Manuel Soria and Icelandic Prime Minister Sigmundur David Gunnlaugsson — both of whom resigned as a result of the allegations.
Russian President Vladmir Putin was also included for a suspected billion-dollar money laundering ring involving his close associates.
“The impact of Panama Papers has been epic,” the ICIJ said in the email. “The investigation has led to high profile resignations, including the prime minister of Iceland; triggered official inquiries in multiple countries; and put pressure on world leaders and other politicians, such as Britain’s Prime Minister David Cameron, to explain their connections to offshore companies.”
“It sparked a new sense of urgency among lawmakers and regulators to close loopholes and make information about the owners of shell companies public,” it stated.
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