Summary
Highlights
In 2017, Maltese journalist Daphne Caruana Galizia was killed by a car bomb. Her death was linked to her investigative work uncovering how the wealthy and powerful hide assets through offshore accounts, a topic deeply connected to the Panama Papers.
The Panama Papers represent the largest data leak in history, involving 11.5 million documents detailing how the Mossack Fonseca law firm helped politicians, billionaires, and criminals hide capital in tax havens using shell companies and nominees.
Mossack Fonseca operated as a 'factory of invisibility.' By using nominees to act as figureheads, they created empty offshore boxes that allowed the true owners to move, invest, and spend money while remaining completely anonymous and avoiding tax scrutiny.
Journalist Bastian Obermayer partnered with the International Consortium of Investigative Journalists (ICIJ) to form a global network of 400 journalists. They worked in secret to analyze the massive database, leading to a simultaneous worldwide publication on April 3, 2016.
The leak revealed widespread corruption, leading to the resignation of Iceland's Prime Minister, investigations into Vladimir Putin's inner circle, and the condemnation of figures like Leo Messi for tax evasion. It forced the world to acknowledge the existence of a parallel economy.
Daphne Caruana Galizia discovered links between high-level Maltese officials and offshore entities connected to the Azerbaijan government. Her murder eventually triggered a political crisis that led to the resignation of key government figures, while the Mossack Fonseca firm collapsed under the weight of the scandal.