WEBVTT

1
00:00:00.880 --> 00:00:04.440
From politicians to celebrities and
criminals, the world's wealthy

2
00:00:04.450 --> 00:00:08.270
have always found ways to hide
their money, including in Panama,

3
00:00:08.280 --> 00:00:11.680
where billions of dollars
had been stashed away in a scheme

4
00:00:11.680 --> 00:00:13.460
to evade taxes.

5
00:00:13.480 --> 00:00:16.880
In April 2016,
investigative journalists reported

6
00:00:16.880 --> 00:00:20.800
that Panamanian Loafer Mossack
Fonseca had set up thousands of

7
00:00:20.800 --> 00:00:23.140
offshore companies for that purpose.

8
00:00:24.950 --> 00:00:28.670
Journalists reviewed
11.5 million leaked documents,

9
00:00:28.670 --> 00:00:33.470
214,000 offshore companies and
14,000 customers.

10
00:00:34.150 --> 00:00:37.630
The trail quickly led
investigators to Deutsche Bank.

11
00:00:37.960 --> 00:00:41.350
Several of its staff allegedly 
helped customers transfer funds,

12
00:00:41.350 --> 00:00:44.430
some from suspected
criminal activities, to Panama.

13
00:00:44.950 --> 00:00:47.209
Other banks have
also been implicated.

14
00:00:48.190 --> 00:00:51.790
Among the bold faced names linked
to the scandal Britain's

15
00:00:51.790 --> 00:00:58.190
then Prime Minister David Cameron,
Argentinian soccer Lionel Messi and

16
00:00:58.230 --> 00:01:03.270
Iceland's president Sigmund Dua,
David Gunnlaugsson, who had to resign

17
00:01:03.510 --> 00:01:05.929
after news of his involvement broke.

18
00:01:07.520 --> 00:01:10.550
Mossack Fonseca also had
Chinese customers, but their

19
00:01:10.550 --> 00:01:12.330
names weren't released.

20
00:01:12.950 --> 00:01:17.230
Millions in fines have been paid,
but the law firm's founders,

21
00:01:17.520 --> 00:01:22.990
Panamanian citizens Jürgen Mossak and
Ramon Fonseca, have been spared

22
00:01:22.990 --> 00:01:25.970
despite international arrest warrants
against them.

23
00:01:26.709 --> 00:01:30.990
They remain untouched because
tax evasion wasn't a punishable crime

24
00:01:30.990 --> 00:01:34.630
in Panama until after the infamous
papers were released.

25
00:01:35.110 --> 00:01:37.899
But 27 suspects are finally on trial.

26
00:01:37.910 --> 00:01:41.190
After years of delay,
court proceedings are finally

27
00:01:41.190 --> 00:01:42.030
set to begin.