Panama Papers Expose Famous Celebs, Sports Icons
The recent financial scandal considered the biggest of its kind, the Panama Papers, has caught the world’s attention as it listed familiar names – not only powerful and rich tycoons, but celebrities from all over the world.Advertisement
The leaked documents, the product of a collaborative investigation conducted by the International Consortium of Investigative Journalists (ICIJ) and a network of media partners all over the world, including German newspaper Suddeutsche Zeitung, exposes more than 11 million documents that detail names of personalities with business dealings with Panamanian law firm Mossack Fonseca.
Mossack Fonseca is a Panama-based low-profile law firm that has a reputation as one of the biggest firms that creates shell companies. The leaked documents, with an approximate size of 2.6 terabytes, include names of celebrities who are active clients of the firm. Although in theory, creating an offshore company is legal, but it has a lot of loopholes used by individuals and corporations in evading taxes.
Probably among the most prominent movie stars implicated in the recent scandal is Chinese martial arts action star Jackie Chan, who has made billions from his internationally-released films over the past years. Chan was ranked the second highest paid actor in the world, according to Forbes.
Bollywood celebrities such as Amitabh Bachchan, considered one of the richest celebrities in India, was also one of the high-profile celebrities whose name was dragged in the recent scandal.
According to a report from the Daily Mail, famous Premier League star Leonardo Ulloa was also implicated in the Panama Papers. The documents revealed that Ulloa has made a transaction with Mossack Fonseca some time in 2008, when he was still actively playing. Other prominent sports personalities include Argentine full back Gabriel Heinze, former Real Madrid star striker Ivan Zamorano, and Michel Platini, among others.