Pandora Papers Reveal the World’s Richest, Leaders Offshore Data; Some Documents Imply Corruption, Money Laundering
The building that houses the law firm Mossack Fonseca & Co is seen on April 7, 2016 in Panama City, Panama. The law firm, which specializes in setting up offshore companies, is at the center of an international scandal and continues to maintain it has broken no laws and that all its operations were legal. A report by the International Consortium of Investigative Journalists referred to as the 'Panama Papers,' based on information anonymously leaked from Mossack Fonesca, indicates possible connections between people setting up the offshore companies and money laundering. Joe Raedle/Getty Images

More than 600 journalists have worked together in a massive investigation shedding light on the world's richest global leaders and other public officials and their offshore banking. The journalists named the expose "Pandora Papers."

Pandora Papers had shown how the world's ultra-rich hide their money and asset from authorities, according to an NPR report.

Usually, it is done with their creditors and lawyers, as well as financial institutions that offer clandestine ways to operate.

The trove containing 11.9 million records was leaked to the International Consortium of Investigative Journalists. The agency shared it with partner media outlets for a large-scale investigation.

Senior ICIJ reporter Will Fitzgibbon said that papers are secretive, confidential documents from tax havens and offshore specialists.

These specialists helped the wealthy and sometimes criminal individuals create a front company or trust to hide their wealth.

Offshore Data Including World Leaders and Public Officials

The offshore data had included 35 world leaders, including former presidents, prime ministers, and heads of state in the expose, according to The Guardian report.

More than 300 other public officials such as government ministers, judges, mayors, and top military leaders were also mentioned.

The expose had revealed that the ruler of Jordan, King Abdullah II, has collected a secret $100 million property empire in Malibu, Washington, and London.

The King of Jordan had refused to answer specific questions but noted that there would be nothing improper about him owning properties through offshore companies.

Jordan had also blocked the ICIJ website on Sunday, hours before the Pandora Papers were published.

Pandora Papers had also shed light on Azerbaijan's ruling Aliyev family acquiring £400 million of UK property in recent years.

One of their properties was sold to the Queen's crown estate, now looking into how it came to pay £67 million to the family's front company.

The Aliyevs were also accused of running the country with rampant corruption. They had declined to comment on the matter.

Two European Union leaders were also mentioned in the Pandora Papers, including the prime minister of the Czech Republic, Andrej Babis.

Babis is currently up for election this week. He was reported to have used an offshore investment company to buy a $22 million chateau in the south of France.

Babis had also declined to comment on the reporting of his property procurement through an offshore account.

Russian President, Vladimir Putin, had not made it in the files by name. However, numerous close associates have been on the list, including Putin's best friend from childhood, as well as a woman the Russian leader was allegedly once romantically involved with.

Meanwhile, the United States has emerged as a leading tax haven, singling out South Dakota as a state sheltering billions of dollars linked to individuals previously accused of serious financial crimes.

according to a BBC News report, Ecuador President Guillermo Lasso, a former banker, had replaced a Panamanian foundation that made monthly payments to his close family members with a trust situated in South Dakota.

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Written by: Mary Webber

WATCH: 'Pandora Papers' leak exposes secret offshore accounts of politicians, celebrities - from CBS News