Information Leak Implicates World Leaders

“Panama Papers” tie illegal tax evasion to dozens of world leaders.



Iceland Prime Minister Sigmundur David Gunnlaugsson announced his resignation Tuesday. (AP Photo/Brynjar Gunnarsson)

More than 11 million documents from a Panama law firm were leaked last Sunday. The papers show dozens of wealthy clients using the law firm Mossack Fonseca to dodge sanctions, launder money and evade taxes. Mossack Fonseca’s clients include 72 current or former world leaders and around 140 other politicians, as well as members of FIFA, the mafia and drug cartels.

Among the most famous of those tied to Mossack Fonseca are Russian President Vladimir Putin, Syrian President Bashar Assad, Chinese President Xi Jinping, United Kingdom Prime Minister David Cameron and soccer player Lionel Messi.

Iceland’s prime minister resigned on Tuesday following days of protests in his home country. President Barack Obama called tax avoidance a “huge problem” and said he wants the international community to overhaul tax law.

Social studies teacher Amy Skonberg thinks the leak will open many eyes.

“The Panama Papers show that keeping money offshore to hide from taxes is widespread and is not limited to billionaires, the United States and the West,” Skonberg said.