The Spider’s Web in the Panama Papers

April 7, 2016

Written and Edited by HV

Below is a world map discovered by a source on Sentifi. It’s dotted with companies that have links to the Panama Papers. Switzerland has two representatives amongst them: UBS and Credit Suisse, the two biggest Swiss banks.

In the pages of the leaked documents, the creation of over 2,000 offshore companies was what the banks asked Mossack Fonseca, more than 1,100 for UBS and 1,105 for Credit Suisse.

As a natural reaction, the two banks defend their businesses with the Panamanian firm. They claim to stay within the boundaries of international law and have profiles of the beneficial owners of those offshore companies. Plus, they won’t allow or tolerate any illegal purposes.

In the land of the free and home of the brave, more than 1,000 companies have ties to Mossack Fonseca, in a report from USA Today. Nevada and Wyoming house most of them. The most notable is a Nevada-based company called Cross Trading LLC, which has connections to FIFA corruption scandal.