Implode-o-Meter News - Massive leak exposes how the wealthy and powerful hide their money

Twelve current and former world leaders maintain offshore shell companies. Close friends of Russian leader Vladimir Putin have funneled as much as $2 billion through banks and offshore companies.
Those exposed in the leak include the prime ministers of Iceland and Pakistan, an alleged bagman for Syrian President Bashar Assad, a close pal of Mexican President Enrique PeÃ±a Nieto and companies linked to the family of Chinese President Xi Jinping.

Add to those the monarchs of Saudi Arabia and Morocco, enough Middle Eastern royalty to fill a palace, honchos in the troubled body known as FIFA that controls international soccer and 29 billionaires featured in Forbes Magazine's list of the world's 500 richest people.

The data breach occurred at a little-known but powerful Panamanian law firm, Mossack Fonseca, which has an office in Las Vegas, a representative in Miami and a presence in more than 35 other places around the world.

See also How to hide a billion dollars (video). Here's a criticism of the Western news coverage of the leaks for only focusing on Putin's associates.

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Massive leak exposes how the wealthy and powerful hide their money | Miami Herald