What do billionaires, politicians, drug dealers, and celebrities have in common? Exclusive yachts, properties, and other assets that they’ve been hiding from the public according to the so-called “Pandora Papers.”
In fact, this has been going on for the past 25 years!
Yet, now, 600 journalists from 117 different countries have banded together and drafted a comprehensive report (aka the Pandora Papers) containing a mind-boggling 12 million files across 14 global firms.
In it, the journalists try to shed some light on the various shady dealings of the corrupt elite and how they use offshore accounts to shield trillion’s worth of assets.
What’s more, the report contains over 330 names, among them former and current politicians who often appear as the beneficiaries of these secret accounts. To name but a few, they include Guillermo Lasso, the president of Ecuador, Vladimir Putin, the President of Russia, and Tony Blair, the ex-PM of the UK.
However, this shouldn’t come as a surprise. Roughly $7.8 trillion is kept in tax havens around the world.
In addition to that, a similar compilation was released back in 2016, adequately dubbed the “Panama Papers.” Still, the Pandora Papers are a much larger project, porting approximately 3 terabytes of data — namely, it contains records from the ’70s onwards; though, most are from the period between 1996 and 2020.
Several charities and humanitarian organizations have voiced their concerns and welcomed the report. Among the most notable was Oxfam International, who claimed that the money investigated in the papers was, in fact, missing taxpayers’ money.
At any rate, it remains to be seen how these findings will impact the socio-political climate of today.