Profile in Focus | The Panama Papers Part 12 (2020)
Russia Is A Terrorist State: Part 3 (2011 - 2016)
Profile in Focus | The Panama Papers Part 12 (2020)
“Konrad Mizzi's Official Photo” by Fenechtonio under CC BY-SA 4.0.
In the year 2020, the Panama Papers continued to have significant repercussions around the world, with new revelations, legal actions, and investigations taking place.
At the beginning of the year, Forbes highlighted the case of a Maltese reporter who had been killed by a car bomb. This tragic event underscored the dangers faced by journalists who exposed corruption, including those involved in reporting on the Panama Papers.
In Malta, the son of a former president was chosen as the new prime minister. This change in leadership raised hopes for accountability and reform in a country that had been heavily implicated in the Panama Papers scandal.
In January, global money laundering raids led to investigations by the Australian Taxation Office, targeting hundreds of Australians suspected of participating in illicit financial activities. This demonstrated the wide-ranging impact of the Panama Papers and the ongoing efforts to address the issues it exposed.
In February, the United States celebrated its first Panama Papers tax conviction. A former U.S. taxpayer pleaded guilty as part of the investigation into offshore tax evasion facilitated by Mossack Fonseca. This marked a significant milestone in holding individuals accountable for their involvement in the scandal.
The Panama Papers investigation also reached Canada, where the exposure of hidden company owners became a key issue. The country aimed to end "snow washing," a term used to describe the use of Canada's lax regulations to hide illicit money.
March brought news that Dermot Desmond, an Irish businessman, obtained a discovery order against The Irish Times. This legal action highlighted the ongoing legal battles and the attempts to control the narrative surrounding the Panama Papers.
The global COVID-19 pandemic had a significant impact on Panama's economy, as discussed in an article by the Atlantic Council in March. The country, already grappling with the fallout from the Panama Papers, faced additional challenges as the virus spread.
In April, a report revealed how Syrian President Bashar al-Assad's family and others had filled their European coffers. This further demonstrated the global nature of the illicit financial activities exposed by the Panama Papers.
By May, the anti-money laundering czar warned that everyone was doing badly in the fight against financial crimes. This emphasized the need for continued efforts and international cooperation to address the issues raised by the Panama Papers.
In June, a Maltese MP was voted out by his party amid turmoil over his ties to the Panama Papers. The political fallout from the scandal continued to have far-reaching consequences.
Throughout the year, there were ongoing revelations and investigations related to the Panama Papers. The leaked documents shed light on the hidden money flows of Putin's Russia and the role of international banks in facilitating suspicious transactions.
Legal actions also continued, with individuals involved in the Panama Papers investigation being sentenced to prison. In September, a U.S. taxpayer and an accountant were both sentenced for their roles in the offshore tax evasion scheme.
In October, Germany issued arrest warrants for the founders of Mossack Fonseca, the law firm at the center of the Panama Papers. This marked a significant development in the legal proceedings against those implicated in the scandal.
The year 2020 also saw the release of a film on Netflix, titled "The Laundromat," which was loosely based on the Panama Papers. The movie sparked further discussions about the scandal and its implications.
As the year came to a close, Mossack Fonseca, the law firm at the heart of the Panama Papers, continued to face legal challenges. Netflix successfully defended itself against libel claims brought by the firm.
Overall, the events of 2020 surrounding the Panama Papers demonstrated the ongoing impact and repercussions of the scandal. Investigations, legal actions, and revelations continued to shed light on the extent of offshore tax evasion and money laundering, and the need for greater transparency and accountability in the global financial system.
Written in part in collaboration with ChatGPT on June 13, 2023
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Next: Profile in Focus | The Panama Papers Part 13 (2021)
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Putin Is A War Criminal
Russia Is A Terrorist State:
Part 1 (1990s)
Part 2 (2000s)
Part 3 (2011 - 2016)
Part 4 (2016 - 2019)
Part 5 (2020 - 2021)
Part 6: (2022+)
Sources for Profile in Focus | The Panama Papers Part 12 (2020):
How the Luanda Leaks Were Reported: Q&A - PBS FRONTLINE January 21, 2020
Dermot Desmond obtains discovery order against The Irish Times - The Times March 8, 2020
How the coronavirus will impact Panama’s economy - Atlantic Council March 18, 2020
How Assad's family and others filled their European coffers - DW April 29, 2020
To Pay for the Pandemic, Dry Out the Tax Havens - Foreign Policy July 16, 2020
Luxembourg financial watchdog sharpens its teeth - Financial Times September 14, 2020
FinCEN Files: HSBC moved Ponzi scheme millions despite warning - BBC News September 20, 2020
Ex-chief of staff to former Maltese PM arrested in corruption probe - POLITICO September 22, 2020
FinCEN Leak Sheds Light On The Hidden Money Flows Of Putin's Russia - RFERL September 24, 2020
What the FinCEN leaks reveal about the ongoing war on dirty money - BROOKINGS September 25, 2020
The secretive networks used to move money offshore - ScienceDaily September 29, 2020
Pakistan ex-president charged for corruption, ex-pm with sedition - Al Jazeera October 6, 2020
Can developing countries rein in offshore wealth? - BROOKINGS October 9, 2020
Trump’s Very Ordinary Indifference to the Common Good - The Atlantic October 10, 2020
Revealed | Sheikh Khalifa’s £5bn London property empire - The Guardian October 18, 2020
The day the international tax authorities came knocking - The Age October 18, 2020
Germany issues warrants for Panama Papers lawyers - DW October 20, 2020
German arrest order for Panama Papers lawyers faces hurdle - AP News October 21, 2020
Mossack Fonseca - Investopedia December 6, 2020
Murder in Malta - The New Yorker December 14, 2020
Netflix Beats Libel Claims from “Panama Papers” Law Firm - The Hollywood Reporter December 23, 2020