Panama Papers Prove American Billionaires Are Sneakiest In The World

Panama Papers Prove American Billionaires Are Sneakiest In The World
IRS 1040 401(K) 2012 / Flickr CC BY-SA 2.0

It’s day four of the Panama Papers hullabaloo and yet, names that appeared linked to shadowy transactions with the law firm Mossack Fonseca were mostly non-American politicians and personalities.


Only few Americans have so far been linked to the so-called largest scandal of its kind to date as of this writing. If there’s one thing the world has known so far, it would probably be that Americans billionaires are among the sneakiest in the world.

Experts believe that the fact that no high-profile Americans have been mentioned in the leaked documents, especially politicians, does not necessarily mean American billionaires are the world’s most honest businessmen. In the same way that being named as one of the clients of offshore companies such as the Mossack Fonseca does not necessarily mean doing illegal trade.

According to a report from the USA Today, Mossack Fonseca has become extremely secretive in its presence in the United States. In fact, immediately after the scandal broke out on Sunday, some of its offices in the U.S., including in Miami, Nevada, and Wyoming, are becoming more concealed.

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Some of its representatives are now denying any connection with the firm after the scandal spread like wildfire. Some of its lawyers, who were once declared official representatives of the firm in the U.S., are either nowhere to be found or keen to decline interviews.

When the 11 million leaked documents reached the German newspaper Süddeutsche Zeitung from an anonymous sender and was made public through the help of the International Consortium of Investigative Journalism (ICIJ), powerful world leaders have been implicated in the scandal and were named immediately.

Speaking with the NBC News, Matt Gardner of the The Institute on Taxation and Economic Policy said it’s also possible that American billionaires who were not implicated in the scandal simply work with other offshore companies that offer the same services Mossack Fonseca offers. After all, the United States is considered one of the tax havens in the world.

“So maybe there are revelations about specific Americans and secret funds that we haven’t heard about,” said Gardner, who adds it’s also possible it would take time before names of American billionaires would surface, given the magnitude of the leaked documents.

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