Panama Papers Study Questions Set #4 [pg 244-326] 1. What practice are German ba
ID: 1133007 • Letter: P
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Panama Papers Study Questions Set #4 [pg 244-326]
1. What practice are German banks allowed to participate in for South American clients which they are expressly forbidden from doing with their German clients?
2. What secret did Sigmundur Gunnlaugsson keep from the people of Iceland and how did this secret shed a whole new light on his political activity?
3. What failure did the authors experience in trying to illustrate Argentinian president Mauricio Macri was involved in hiding money/money laundering?
4. What are the four ways the authors mention that companies in the Roldugin network receive funds through financial transactions?
5. What does one reporter describe as the Holy Grail of investigative journalism?
6. What do the Uruguayan lawyers representing Lionel Messi and his father's interests do shortly after the story breaks that Lionel Messi is the sole owner of Jenbril SA. and Mega Star Enterprises?
7. What is counterintuitive about the appointment Juan Pedro Damianito FIFA's ethics committee?
8. How can perpetrators of fraud, money launderers and other clients protect themselves in court against the claims made by investigators?
9. What do the authors cite as the two big steps needed to clean up the offshore centers of the world?
10. According to the authors, why don't the politicians from the big countries take more radical action to stop the practices of the tax havens?
Extra Credit: During their visit to Panama, how do the authors describe the divisions in Panamanian society?
Explanation / Answer
1. Tax evasion for clients; Berenberg bank was opening accounts for firms while the Panamian Law firm Mossack Fonseca will establish firms in the region for its clients. Berenberg did the same with Mossack Fonseca for its own clients. Berenberg banks is forbidden by German law from doing this for German firms.
2. He owned an offshore firm in Panama. He did not declare it when he entered the parliament. This is jointly owned by Sigmundur and his wife.
3. Macri did not have a stake in Fleg Trading Ltd. based in the Bahamas. Ergo, he was not obliged to declare his link with the firm. The firm was established by his father for investments in Brazil.
4.
5. Luke Harding, Guardian referred to Putin's money as the Holy Grail of Investigative Journalism. In Russia, it is said that working as a journalist is tantamount to suicide.
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