Massive Panama leak shows how world leader hide their money

Germany's Süddeutsche Zeitung (SZ) has released a huge leak of 11.5 million encrypted documents from the Panamian law firm Mossack Fonseca, revealing secret offshore holdings of 140 politicians and public officials, including 12 current and former world leaders. Among the holders named are the families and associates of Egypt's former president Hosni Mubarak, Libya's former leader Muammar Gaddafi, Syria's president Bashar al-Assad, Prime Minister Sigmundur David Gunnlaugsson and UK Prime Minister David Cameron’s father. Also revealed is a suspected billion-dollar money laundering ring run by a Russian bank involving close associates of President Putin. His close friend, the concert cellist Sergei Roldugin, is also named.

The German paper shared the information with the international consortium of investigave journalists which then harnessed 107 media organizations in 78 countries for the follow-up.