The Panama paper case is wreaking havoc all around the world. After Nawaz Sharif’s stepping down from the post of PM, Indians are on the target. As many as 500 Indians are in the list including celebrities, businessmen, political leaders. The Panama Paper leak has revealed all the undisclosed secrets. The main role in bringing out leaked documents named after the name of Panama Papers is done by an NGObased in the United States and the International Federation of Research Journalists (ICIJ).The investigation has revealed the data from year 1977 to 2015. The documents are leaked from Mosaic Fonseca, a Panama-based law firm. About 500 people are named in the list out of which 300 names have been verified. This paper leak has 2.6 terabyte data which requires 600 DVDs. There are thousands of documents connected to almost two thousand people, companies and partners in India. Iceland’s Prime Minister had to resign due to this incident while the founder of Mossack Fonseca was also arrested.In this case also the arrest of the founder of Mosaic Fonseca was arrested. At the same time, we had to resign from in the matter. ICIJ had published detailed information on the Panama Payers affiliated with the companies on 10 May in the safe haven of tax evasion. ICIJ also revealed approximately 2.14 lakh foreign entities established from Nevada to Hong Kong and British Virgin Islands. It is considered as one of the biggest investigations in the history with more than 100 media groups involved. The secret dealings of about 140 political personalities were also exposed. The big celebrities like to keep their accounting outside their country. Their purpose is to get a lot of financial and legal benefits. These foreign accounts are kept in most of the tax haven countries. They are used to save maximum money possible.Mosek Fonseca is a firm based in Panama which advises and helps in investing money in tax haven countries and also keeps track of the documents.The economy of Panama is dependent on the business being carried out worldwide by this company. The company is now asking the investigation on the leakage. The company is active in 42 countries with a staff of 600 employees. It mostly works in tax haven countries like Switzerland, Cyprus and British Virgin Islands, Jersey, etc.This list contains names of 500 Indians, companies and trusts. According to information, Saif Ali Khan, Kareena Kapoor, Karisma Kapoor, Venugopal Dhoot of Videocon Company and Panchsheel Group of Pune were involved in the disclosures of law firm Mosek Fonseka of Panama. Apart from this, actor Amitabh Bachchan, Aishwarya Rai Bachchan, DLF K.P. The names of DLF owner KP Singh, owner of India Bulls, Sameer Gahlot were also included. Amitabh Bachan is said to have been made the director of four companies with 3 of them in Bahamas and one in Virgin Islands. In this list, Aishwarya Rai Bachan was also appointed as the director of a company and later declared as shareholder. The people with their names on the list may face serious implications. The names of former and current presidents of various countries, film actors, sportsmen and many celebrities associated with the trade in the list of wealth hiding in Tax Haven. These included Pakistan’s current Prime Minister Nawaz Sharif, former Prime Minister Benazir Bhutto, Chinese President Xi Jinping, Russian President Vladimir Putin, Egyptian Egyptian President Hosni Mubarak, Syrian President Bashar al-Assad, Barcelona player Lionel Messi Are. With this list coming out, more than 70 current or former presidents and dictators have come under the fold.
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