IT is only natural that the media here in the Philippines and in other places around the globe would react with excitement to the revelations this week in the so-called “Panama Papers” – a massive leak of about 11.5 million documents from one of the world’s largest offshore law firms, Panama-based Mossack Fonseca, which provides legal and other management services for investors and businesses registering corporations in the British Virgin Islands and other “tax havens’ around the world.
The excitement, of course, is caused by the names of celebrities, political figures, and other famous and notorious people among the thousands in the treasure trove of information. The database, which was organized and posted online by the International Center for Investigative Journalism (ICIJ), shows connections between offshore corporations and such notables as Russian President Vladimir Putin, Ukrainian President Petro Poroshenko, Pakistani Prime Minister Nawaz Sharif, and Iceland’s Prime Minister Sigmundur Gunnlaugsson.
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