Deutsche Bank And The Panama Papers: ICIJ Report

BERLIN, GERMANY - FEBRUARY 09: People walk past a branch of Deutsche Bank on February 9, 2016 in Berlin, Germany. Shares of Deutsche Bank rose 16% on the Frankfurt stock exchange on February 10 following rumours the bank may announce a bond buy-back initiative. (Photo by Sean Gallup/Getty Images)

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On Tuesday, federal prosecutors in the office of the Southern District of New York unsealed an indictment containing the first charges brought in the United States connected to the Panama Papers. Four people were charged with tax evasion, money laundering, and other crimes.

The Panama Papers revealed how the world’s elite use tax havens to hide their wealth, and in some cases launder money, dodge sanctions and avoid paying tax altogether. The papers implicated 14 heads of state and 140 politicians — and connected to people in more than 200 countries and territories to more than 200 thousand offshore companies.

Eryn Schornick, is a senior policy advisor on the anti-money laundering team at Global Witness, an investigative organization exposing corruption around the world. And Will Fitzgibbon, a senior reporter for the International Consortium of Investigative Journalists. ICIJ, as it’s known, partnered with the German Newspaper Sueddeutsche and more than 100 other media partners to investigate the leaked files.

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