The International Consortium of Investigative Journalists is preparing to release a massive database of files on Monday, May 9. The data, dubbed the “Panama Papers” reveals how some of the world’s wealthiest and most powerful people hide their money.
The database, opening to the public today, features data from more than 200,000 companies, trusts, foundations, and funds incorporated in 21 tax havens t
The findings of the Panama Papers investigation were first unveiled at the beginning of April.
If you plan on looking through the documents, you should be aware that their are more than 11 million files to peruse. The files were held by Panama-based law firm Mossack Fonseca.
The documents were leaked to the German newspaper Suddeutsche Zeitung. The paper then shared the information with the ICIJ, which is made up of 107 media organizations in 78 countries.
The Panama Papers have already led to the ousting of Spain’s acting industry minister Jose Manuel Soria and Icelandic Prime Minister Sigmundur David Gunnlaugsson.
“The impact of Panama Papers has been epic,” said the ICIJ in a statement.
“The investigation has led to high profile resignations, including the prime minister of Iceland; triggered official inquiries in multiple countries; and put pressure on world leaders and other politicians, such as Britain’s Prime Minister David Cameron, to explain their connections to offshore companies. It sparked a new sense of urgency among lawmakers and regulators to close loopholes and make information about the owners of shell companies public.”
The database goes live on May 9 at 2 p.m. EDT