friend – a cellist
named Sergei Roldugin – is at the center of a scheme in which money from the Russian
state banks is hidden offshore. Some of it ends up in a ski resort where in
2013 Putin’s daughter Katerina got married. And despite the legality of the
leaked documents, Russia’s official news agency had dismissed the revelations
as a “Western plot” against Vladimir Putin.

Among the other national leaders revealed by the Panama
Papers Leak to have offshore wealth are Pakistan’s Prime Minister Nawaz Sharif,
ex-interim prime minister and former vice-president of Iraq Ayad Alawi,
president of Ukraine Petro Poroshenko, Alaa Mubarak – son of Egypt’s former
president and the Prime Minister of Iceland, Sigmundur Davíỗ
Gunnlsughsson. And what irked the international community most is on how
Mossack Fonseca helped governments that are under imposed economic sanctions by
theUN Security Council to still do business with impunity – like North Korea
and Russia since the unlawful Donetsk Region annexation by the Putin regime.

Mossack Fonseca is a Panama-based law firm whose services include
incorporating companies in offshore jurisdictions such as the British Virgin
Islands. It administers offshore firms for a yearly fee. Other services include
wealth management. The firm is Panamanian but runs a worldwide operation. Its
website boasts of a global network with 600 people working in 42 countries. It
has franchises around the world, where separately owned affiliates sign up new
customers and have exclusive rights to use its brand. Mossack Fonseca operates
in tax havens including Switzerland, Cyprus and British Virgin Islands and in
the British crown dependencies of Guernsey, Jersey and the Isle of Man.