Panama Pa­pers have had his­toric global ef­fects, and the im­pacts keep com­ing – ICIJ

Malta Independent - - NEWS -

At least 150 in­quiries, au­dits or in­ves­ti­ga­tions into Panama Pa­pers rev­e­la­tions have been an­nounced in 79 coun­tries around the world since the scan­dal was re­vealed ear­lier this year, the In­ter­na­tional Con­sor­tium of In­ves­tiga­tive Jour­nal­ists said yes­ter­day.

In a story pub­lished on its web­site, the ICIJ said an es­ti­mated $135 bil­lion was wiped off the value of nearly 400 com­pa­nies af­ter the Panama Pa­pers.

Gov­ern­ments are in­ves­ti­gat­ing more than 6,500 tax­pay­ers and com­pa­nies, and have re­couped at least $110 mil­lion so far in un­paid taxes or as­set seizures, the ICIJ said.

Nine Mos­sack Fon­seca of­fices have been closed around the world, and the law firm has been fined close to half a mil­lion dol­lars, it added.

The Malta In­de­pen­dent is a me­dia part­ner of the ICIJ.

In Malta, Kon­rad Mizzi lost his portfolio as En­ergy and Health Min­is­ter af­ter the Panama Pa­pers re­vealed that he had opened a com­pany in Panama which was held by a trust in New Zealand. He also had to re­sign from the post of Labour Party deputy leader.

OPM chief of staff Keith Schem­bri was also re­vealed to have a com­pany in Panama.

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