Throwing light into the tax evasion techniques exercised by the elite class, a German newspaper on last day revealed nearly eleven million documents which could undisputedly prove that some upper class people with the help of Mossack Fonseca, Panama based finical consultancy, have tactically cheated banks and tax authorities. Reports say that the documents revealed by newspaper have perfectly showcased the money map and the laundering routes, which were used by the elite class to transform their unaccountable illicit-wealth to the safe money. In addition, the Panamanian financial consultancy has also helped their clients to escape from tax burdens using some kind of proxy techniques. Interestingly, throughout its forty year long career the company has efficiently hidden its dark side with its popularity and acceptance. Notably, not a single case regarding the money laundering or tax evasion has been registered against the company so far. Unexpectedly, nearly seventy two top political leaders including Russian Supremo Putin and Iceland PM Sigmundur have been implicated in the documents related to tax crimes. It is unfortunate to hear that several Indians are also mentioned in the documents released on today morning. It is one of the most-sensitive big-break of the year, says expert. This report was initially published by a German newspaper and later the Media handed the documents over to ICIJ, International Consortium of Investigative Journalist. Anyway, the agencies have not yet revealed the exact source of the news. However, the Panamanian financial agency reportedly denounced all the allegations and termed it as illogical.
Vignesh
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