Panama Papers: 2.6 terrabytes of data on secret business transactions. Famous politicians, athletes and business leaders are under pressure to explain. The scandal was brought to light by a huge leak from Panamanian law firm Mossack Fonseca.
Germany's federal investigators have paid up to 5 million euros for the trove of documents at the center of the so-called Panama Papers leak. While controversial, the purchase of stolen bank data is legal.
Jerome Cahuzac, who once led a French government crackdown on tax evasion, has been found guilty of that same crime. According to a Paris court, his method of evasion surpassed other cases.
The Panama Papers have revealed a vast network of dubious offshore companies, ostensibly used to hide depositors' money from tax authorities. Politicians have been trying for years to shut down such oases.
Dubbed the 'Dallas on the Seine' affair, the tax-fraud trial of New York art dealer Guy Wildenstein has begun in Paris. In one of the biggest-ever cases of its kind, the 70-year-old faces 10 years in jail if convicted.
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