There’s Been a Leak

April 25, 2016

And  it’s not water

How would you like it if someone read your diary and then shared it with everyone at school? Well, that’s basically what happened to a lot of people! Over 11 million private files from a Panama law firm called Mossack Fonseca were shared with a German newspaper.

So what’s the big deal? Well, first, these were all private files so they weren’t meant to be shared. Second, these files contained a lot of secret information about how people hid their money or used creative ways to avoid paying taxes in their home country. But what’s even more troublesome is that the people who were illegally o shoring (or moving things like money to another country) are some of the world’s most powerful world leaders, sports stars, and famous entertainers!

Since the leak, Iceland’s Prime Minister Signmundur David Gunnlaugsson has resigned, while other world leaders like Russia’s Vladimir Putin have denied doing anything wrong. Investigations have begun, but it’ll be some time before all the files are looked through to determine who actually did something illegal.