The Panama Papers (2018)

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BASTIAN: So, it was
in the winter of 2015,

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I was at the house
with my parents,

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with my wife and my kids.

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And everybody was
sick, so really sick.

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I was the last one standing.

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Then I got this first ping, this
first message from a person who

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called himself John Doe, and
asked if I would be interested

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in data.

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NEWS REPORTER 1: We turn now to
the bombshell causing shockwaves

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around the world, the
so-called Panama Papers.

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NEWS REPORTER 2: What may be the
largest leak of secret documents

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in history.

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NEWS REPORTER 3: Massive
document leak allegedly showing

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how world leaders and the
mega-rich hide billions

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of dollars.

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NEWS REPORTER 4: A new report
which finds eight billionaires

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own as much wealth as the
poorest half of the

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world's population.

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NEWS REPORTER 5: The papers
paint a picture of wide-spread

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corruption and tax evasion.

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NEWS REPORTER 6: Now we
have journalists stepping in,

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trying to tear down those
barriers of secrecy and exposing

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what is happening
behind closed doors.

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NEWS REPORTER 7: The
revelation now kicking off a

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world-wide investigation.

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NEWS REPORTER 8: The whole
issue here is about secrecy.

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People can create shell
corporations and secretly move

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money around.

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NEWS REPORTER 9: World-wide
estimates suggest tens of

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trillions of dollars are
hidden in off-shore accounts.

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NEWS REPORTER 10: What's really
shocking is the fact that twelve

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current or former heads of
state are being accused in

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these papers.

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NEWS REPORTER 11: A journalist
investigating the Panama Papers

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has been killed, sending other
journalists into hiding for fear

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of their safety.

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NEWS REPORTER 12: The law
firm is denying any wrongdoing,

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but this scandal,
the Panama Papers,

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is just beginning.

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JOHN: My viewpoint
is entirely my own.

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Income inequality is one of
the defining issues of our time.

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It affects all of
us, the world over.

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Still, questions remain.

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Why?

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And why now?

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The Panama Papers provide a
compelling answer to

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these questions.

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Massive, pervasive corruption.

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It's not a coincidence that the
answers come from a law firm.

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Mossack Fonseca used its
influence to write and bend laws

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worldwide to favor the interest
of criminals over a period

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of decades.

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BASTIAN: In the first
day and the first days,

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it was so fascinating because
this window in our world opened

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where nobody had ever looked in.

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I always wanted to write.

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Um, I wanted to
become a novelist,

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but that didn't really work out,
so I intended to become a

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sports writer.

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And that also didn't
work out, and here I am, so...

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BASTIAN: Well, I think it's,
um, more or less the defense for

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injustice in some way.

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We founded our own
paper in Rosenheim,

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where I come from, because we
had the feeling that all the

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media there are very much
right-wing orientated and that

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your important stories
are not really told.

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The fact that the
data of Mossack Fonseca,

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which I knew as a black hole.

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They work with all
kinds of criminals.

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You know, they all hold the
information that people who want

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to keep their secrets put in
there to disappear from

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the public.

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So I knew the
company, and I thought,

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you know, this guy has access
to the inner stuff of

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Mossack Fonseca.

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I'm the guy who
wants to have it.

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KATRIN: Mossack Fonseca
is a law firm from Panama,

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and their business is secrecy.

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If you have about
a thousand euros,

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you can buy an offshore
company, it's quite easy,

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and then you can
even buy, like,

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shame directors which means
that all the business you do,

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someone else is signing, someone
else is "doing the business".

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So no one actually
knows that you own stuff,

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and you can hide
all your businesses.

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There's a world that is only
accessible for the powerful and

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the richest, where
they hide their money,

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where they enable
money laundering,

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corruption, and actually, the
plundering of all continents.

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NEWS REPORTER 13: Since 2015,
the richest one percent have

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been more wealthy than the
rest of the world's

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population combined.

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Now Oxfam says the poorest 10%
have seen their income increase

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by less than $3 a year
between 1988 and 2011.

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BASTIAN: If we have streets that
are in not a good condition,

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if we do not have enough
preschool places or good schools

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or if we do have to pay too
much money for universities,

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that is due to the fact that
there's so many people out there

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that are avoiding
and evading taxes.

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That's a problem that is
concerning every country all

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around the world,
and every one of us.

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BASTIAN: In the first days, it
didn't seem like this is the

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biggest leak in
history of journalism.

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It only was, this seems
to be a really good story.

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FREDERIK: The amount of data
that Bastian and me received

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grew and grew.

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It was really like an addiction.

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I spent night and day
clicking through the data.

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FREDERIK: When we then found the
first names of heads of state

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heads of government.

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We found, you know, the
best friend of Vladimir Putin.

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We found the
Icelandic Prime Minister.

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Even celebrities.

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We always found something that
I thought this is really

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worth reporting.

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If you find money
tied to Bashar Al-Assad,

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and to Vladimir Putin,
and to other dictators,

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then you somehow have the
feeling maybe it's not a good

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idea that only I know.

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Some colleagues
asked us, actually,

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are you crazy sharing a scoop?

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Giving away something our
newspaper could have alone?

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But by sharing, we enabled this
investigation to be something

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big and to make our
investigations better.

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FREDERIK: So we reached out
to the ICIJ in Washington and

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tracked the data.

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MARINA: ICIJ was
created 20 years ago,

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and we can say that its mission
is to defeat the traditional

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model of the lone wolf
investigative reporter.

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The lone wolf investigative
reporter is all for herself or

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himself, and so ICIJ was created
as a network of investigative

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reporters in more than 60
countries who collaborate on

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stories that are too complex,
and that need to be told from a

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collective perspective, from
a collaborative perspective,

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that need to be
told across borders,

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in collaboration.

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The general
meeting is at 3:45.

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I am originally from Argentina.

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I went into
journalism fairly young at 18,

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decided to be a journalist.

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I saw a lot of, uh, inequality
in my country growing up,

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a lot of corruption, and I
wanted to do something about it,

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but not from an
activist point of view,

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but from a
journalistic point of view.

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MARINA: When we started
receiving the data from

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Süddeutsche Zeitung and
analyzing it and realizing that

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it was connected
to 200 countries,

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that there were thousands
of public figures and prime

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ministers and presidents
and princesses and queens,

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and we have to do the biggest
investigation we have ever done

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to do justice to this data.

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GERARD: I have to admit, my
first thought was skepticism

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because I thought, well, we've
done these stories on

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off-shore before.

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We've done, I
think at that stage,

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four or five of them, and I was
wondering how it was gonna be

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possible to get all the media
partners interested in doing

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another story about off-shore,
but we really had cracked the

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off-shore.

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Well, even though we had
done previous stories,

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we didn't have this kind
of information before,

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and I really thought
it was a breakthrough.

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EMILIA: 11.5 million documents.

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You have all these
complex kind of documents,

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some that you familiarize with,
but sometimes you also have

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databases within them.

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MATTHEW: They
were mostly emails,

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PDFs and everything else,
but because there were so many

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millions of documents, we had to
make it easy for journalists to

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search through them
by using data sets,

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for example, all the
clients of Mossack Fonseca,

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all the intermediaries,
clients per country,

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and so on.

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BASTIAN: Every company
has a number and a folder,

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so it's very easy to
navigate, actually,

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in the original data.

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EMILIA: Then we upload it
to a platform that we call

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"Blacklight", and
this becomes like,

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Google, where
you have a search box.

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So you're actually able to
figure out what are some names

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of people of public interest in
your country are present in

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that data.

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GERARD: One big danger here was
that someone was feeding us the

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documents and then would perhaps
slip in some false information

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into the documents.

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We wanted to make sure
that wasn't happening.

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We had done some work on
Mossack Fonseca in the past,

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so we actually had a set of
documents that we could compare

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the information we were
getting from the new source,

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the John Doe source,
with what we had before.

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So my, you know, early stage
was to to keep questioning

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everything and to make sure that
we were jumping every hurdle.

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EMILIA: We decided to
reconstruct a database of the

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companies and the shareholders
connected to Mossack Fonseca.

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It's called Linkurious, and
you just start typing people's

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names, or companies' names.

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You will get a
circle called a node,

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and if you click on
it, it start expanding,

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and then you will be able to see
how many companies a person is

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connected to or who are the
shareholders behind a company.

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MARINA: We literally took
months to make available this

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information to the journalists,
and we were making it available

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in batches up
until the very end.

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I think the last batch of
information of documents was

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released perhaps a couple of
months before publication.

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MARINA: You don't just call
great reporters that you have

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heard of.

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You have to call people that you
know you can work with who are

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excellent reporters, but
also people that you can trust.

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We had been getting to
know the team at McClatchy,

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and they ticked every box.

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They really wanted
to work as a team.

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KEVIN: Who's surprised that
bad guys hide their money?

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You know, nobody was
saying that was the surprise.

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The surprise is, yeah, you pull
this veil back and you see this

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is how they do it.

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Everything you
thought was happening,

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here's the evidence.

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It is.

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Yeah, because of...

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I'm a former South America
Bureau Chief for the company,

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and Mossack Fonseca
is a Latin company,

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Latin clients, and so it was
an area that I could help with.

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I grew up in-in
Ecuador as a child.

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I grew up a little different
than most Americans because I

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saw the poverty, I saw kids with
no legs begging in front of the

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soccer stadium on Saturdays, and
so you know this different world

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exists, but to have it so
spelled out clearly where you

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can see.

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You can start to see
these connections,

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and then the rest of it
is kind of the legwork.

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Okay, you know they
have an offshore account,

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so what?

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You know, what do
you do from there?

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What more can you
say about that?

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MARISA: Usually as
a, as a reporter,

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you have tips, you have some
kind of roadmap of where you

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want to go with a story.

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With this, we had
absolutely no roadmap.

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We weren't the
big guys, you know?

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We were the ones who tried to
break stories that the big guys

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didn't have.

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00:15:17,220 --> 00:15:20,110
We were the, the
underdogs, to some degree.

244
00:15:20,130 --> 00:15:23,210
It was also something that
we had to kind of sell to our

245
00:15:23,230 --> 00:15:27,120
company at the time, because
they had decided that they were

246
00:15:27,140 --> 00:15:29,230
gonna shut their
foreign bureaus.

247
00:15:30,010 --> 00:15:32,210
They were
wondering what value,

248
00:15:32,230 --> 00:15:35,200
foreign news would
have to their readers.

249
00:15:35,220 --> 00:15:40,080
Why are people gonna care that
the rich don't pay their taxes

250
00:15:40,100 --> 00:15:42,160
and crooks are crooks?

251
00:15:42,180 --> 00:15:45,200
Everyone knows that.

252
00:15:45,220 --> 00:15:49,210
What he didn't understand is
that this was such an enormous

253
00:15:49,230 --> 00:15:52,070
amount of data, it
was revealing a,

254
00:15:52,090 --> 00:15:53,120
a whole world.

255
00:15:53,140 --> 00:15:56,040
It wasn't just a
story about offshores;

256
00:15:56,060 --> 00:15:58,000
It was, it was the goods.

257
00:15:58,020 --> 00:16:00,160
We had the goods
on how it worked.

258
00:16:09,120 --> 00:16:13,000
JÓHANNES: I'm a
nerd about journalism.

259
00:16:13,020 --> 00:16:15,120
I had been a
journalist for over 15 years,

260
00:16:15,140 --> 00:16:20,120
and I look at myself as a
person that wants to be the

261
00:16:20,140 --> 00:16:24,220
pipeline for minority
groups to publish their story,

262
00:16:25,000 --> 00:16:29,090
to ask questions inside the
government and find answers for

263
00:16:29,110 --> 00:16:30,080
those groups.

264
00:16:33,220 --> 00:16:35,080
JÓHANNES: I got a
call from Marina Walker,

265
00:16:35,100 --> 00:16:37,170
the Deputy Director of ICIJ.

266
00:16:37,190 --> 00:16:40,210
She asked me, do-do you
want to work on a leak?

267
00:16:40,230 --> 00:16:46,220
And we have a lot of
Icelandic names in the leak.

268
00:16:47,000 --> 00:16:50,180
And we have your prime
minister there and his wife.

269
00:16:50,200 --> 00:16:53,200
And at that moment, uh,
everything froze in front of me.

270
00:16:56,120 --> 00:16:59,140
I thought to myself, wow, this
is going to be a bomb here

271
00:16:59,160 --> 00:17:01,150
in Iceland.

272
00:17:01,170 --> 00:17:04,190
Nobody knew about his
offshore company called Wintris.

273
00:17:07,080 --> 00:17:09,210
If you Googled Wintris
before the Panama Papers,

274
00:17:09,230 --> 00:17:14,000
you couldn't find anything, and
the prime minister hadn't been

275
00:17:14,020 --> 00:17:17,140
transparent about his
involvement into the

276
00:17:17,160 --> 00:17:19,060
offshore world.

277
00:17:19,080 --> 00:17:22,140
Ladies and gentlemen, it's a
pleasure for me to be here today

278
00:17:22,160 --> 00:17:24,200
at Iceland Investment Forum.

279
00:17:24,220 --> 00:17:28,110
It takes time for any given
country to resurface from

280
00:17:28,130 --> 00:17:32,190
political turmoil after a
large-scale economic crisis.

281
00:17:32,210 --> 00:17:34,230
We've already made
significant progress,

282
00:17:35,010 --> 00:17:38,020
and I'm convinced that the
policy this government has put

283
00:17:38,040 --> 00:17:42,190
forward is a sound one, and that
is what bring further benefits.

284
00:17:42,210 --> 00:17:45,230
I have to admit that when
you hear the prime minister is

285
00:17:46,010 --> 00:17:50,010
involved, his wife
and other big business,

286
00:17:50,030 --> 00:17:52,160
people in Iceland
very powerful people,

287
00:17:52,180 --> 00:17:56,100
then you start to think
about what will happen?

288
00:17:56,120 --> 00:17:59,150
Hope to see you and
your money in Iceland.

289
00:18:05,020 --> 00:18:06,050
GERARD: At this point,
we continue on to London,

290
00:18:06,070 --> 00:18:10,040
and I met with The Guardian,
because I knew if they were

291
00:18:10,060 --> 00:18:12,190
involved that it'd be easier to
convince other media partners to

292
00:18:12,210 --> 00:18:14,140
get involved.

293
00:18:15,180 --> 00:18:17,200
LUKE: This was a
really important leak.

294
00:18:17,220 --> 00:18:21,080
I think, I think we've had three
super leaks this century so far.

295
00:18:23,180 --> 00:18:26,110
We have Wikileaks where we
got the kind of unmediated view

296
00:18:26,130 --> 00:18:28,110
of the most
powerful country on Earth,

297
00:18:28,130 --> 00:18:29,160
the United States.

298
00:18:29,180 --> 00:18:31,120
NEWS REPORTER 14: The
biggest leak of U.S.

299
00:18:31,140 --> 00:18:32,160
military secrets ever.

300
00:18:32,180 --> 00:18:35,160
Website Wikileaks hit the
"send" button on some 400,000

301
00:18:35,180 --> 00:18:37,230
sensitive
documents about the Iraq war.

302
00:18:38,230 --> 00:18:41,040
LUKE: Then we had
Snowden who came along,

303
00:18:41,060 --> 00:18:44,090
who proved that all of our data
is being collected all the time,

304
00:18:44,110 --> 00:18:46,000
that we're being surveilled.

305
00:18:46,020 --> 00:18:49,010
I, sitting at my desk, uh,
certainly had the authorities

306
00:18:49,030 --> 00:18:53,170
to wiretap anyone from you
or your accountant to a federal

307
00:18:53,190 --> 00:18:56,050
judge to even the President,
if I had a personal email.

308
00:18:56,070 --> 00:18:58,140
LUKE: He sort of lifted what I
would call mass surveillance.

309
00:18:58,160 --> 00:19:01,130
And then we had
the Panama Papers.

310
00:19:01,150 --> 00:19:05,200
We had emails, uh, between the
law firm and what they called

311
00:19:05,220 --> 00:19:08,050
their clients, which typically
meant other intermediaries,

312
00:19:08,070 --> 00:19:11,030
banks, lawyers,
accountants all over the world.

313
00:19:11,050 --> 00:19:14,040
We had passport scans and we had
kind of incorporation documents,

314
00:19:14,060 --> 00:19:17,090
we had a lot of postage
stamps from these very

315
00:19:17,110 --> 00:19:19,010
exotic locations.

316
00:19:19,030 --> 00:19:20,170
Pretty much all of it was set up
so that no one can kind of

317
00:19:20,190 --> 00:19:21,230
peer inside.

318
00:19:22,010 --> 00:19:25,180
And, and suddenly, we had a
kind of treasure trove of stuff.

319
00:19:25,200 --> 00:19:27,200
I've been on The
Guardian for about 20 years.

320
00:19:27,220 --> 00:19:29,230
12 years as a foreign
correspondent bouncing around

321
00:19:30,010 --> 00:19:31,220
the world:
Afghanistan, Iraq, Berlin,

322
00:19:32,000 --> 00:19:34,020
and then I was
placed into Moscow,

323
00:19:34,040 --> 00:19:36,170
where I kind of really plunged
into what you might call kind of

324
00:19:36,190 --> 00:19:38,210
post-Soviet muck.

325
00:19:38,230 --> 00:19:42,010
Corruption,
espionage, Vladimir Putin,

326
00:19:42,030 --> 00:19:46,000
his money,
question mark, and so on.

327
00:19:49,040 --> 00:19:50,150
JULIETTE: You're
not just going in,

328
00:19:50,170 --> 00:19:51,220
going oh, look, you know, here's
the whole story in black and

329
00:19:52,000 --> 00:19:53,020
white for me.

330
00:19:53,040 --> 00:19:54,110
It's a lot of
detective work, of,

331
00:19:54,130 --> 00:19:58,140
of painstaking piecing together.

332
00:20:00,160 --> 00:20:02,190
You don't just dump stuff.

333
00:20:02,210 --> 00:20:06,090
You find the narratives, you
make them matter to people.

334
00:20:08,000 --> 00:20:11,180
I joined The Guardian in
2011 as telecoms correspondent,

335
00:20:11,200 --> 00:20:14,030
and, because I speak French, I
was pulled into an investigation

336
00:20:14,050 --> 00:20:17,030
into HSBC Bank, and
its Swiss operation,

337
00:20:17,050 --> 00:20:19,160
which was the first ICIJ
investigation that I'd

338
00:20:19,180 --> 00:20:20,230
worked on.

339
00:20:21,010 --> 00:20:22,060
NEWS REPORTER 15: The massive
investigation by media outlets

340
00:20:22,080 --> 00:20:25,150
including France's Le Monde and
Britain's Guardian Newspaper.

341
00:20:25,170 --> 00:20:29,030
They've revealed that HSBC Swiss
private banking arm has helped

342
00:20:29,050 --> 00:20:31,150
thousands of wealthy
clients to evade tax.

343
00:20:31,170 --> 00:20:33,190
JULIETTE: It was a
big story over here,

344
00:20:33,210 --> 00:20:37,160
and then I, I got brought in to
do the Panama Papers a few month

345
00:20:37,180 --> 00:20:39,150
after that.

346
00:20:45,090 --> 00:20:47,070
MATTHEW: I knew that there were
companies in Malta that were

347
00:20:47,090 --> 00:20:51,020
using Mossack Fonseca to set up
companies in Panama for their

348
00:20:51,040 --> 00:20:56,170
clients, but what I never
imagined was that I would find

349
00:20:56,190 --> 00:21:00,210
the name of a
cabinet minister in there.

350
00:21:00,230 --> 00:21:03,190
There were three
companies that were set up.

351
00:21:03,210 --> 00:21:07,030
The names of Konrad Mizzi
and of Konrad Mizzi's wife,

352
00:21:07,050 --> 00:21:10,200
Sai Mizzi, and Konrad
Mizzi's children appeared in

353
00:21:10,220 --> 00:21:13,110
the documentation.

354
00:21:13,130 --> 00:21:17,200
There were never any names given
for the third company, Egrant.

355
00:21:20,100 --> 00:21:23,000
My mother, through a
different sources,

356
00:21:23,020 --> 00:21:28,070
one of who worked in a bank
where documentation related to

357
00:21:28,090 --> 00:21:32,090
this third company was kept,
worked out that the shares were

358
00:21:32,110 --> 00:21:35,010
being held in the name of
the Prime Minister's wife,

359
00:21:35,030 --> 00:21:38,010
Michelle Muscat.

360
00:21:38,030 --> 00:21:40,220
I think that's when we realized
that what we were dealing with

361
00:21:41,000 --> 00:21:44,170
in Malta was a
system of state capture,

362
00:21:44,190 --> 00:21:47,120
that every institution of the
state has been captured by

363
00:21:47,140 --> 00:21:49,070
this gang.

364
00:21:49,090 --> 00:21:51,090
They're laundering money,
they're laundering campaign

365
00:21:51,110 --> 00:21:54,210
funding, and they're going to
go to prison for a long time.

366
00:21:54,230 --> 00:21:57,030
I was sure of that at the time.

367
00:22:02,040 --> 00:22:04,220
WOMAN 1: This is all about
secrecy and the ability to hide

368
00:22:05,000 --> 00:22:06,170
your money, your assets.

369
00:22:06,190 --> 00:22:08,180
LUKE: The rich
and the super-rich,

370
00:22:08,200 --> 00:22:11,060
together with most sort of
multi-national corporations,

371
00:22:11,080 --> 00:22:15,100
essentially exited quietly, sort
of slipped off stage from the

372
00:22:15,120 --> 00:22:18,010
messy business of-of-of
universal taxation some

373
00:22:18,030 --> 00:22:20,010
time ago.

374
00:22:23,010 --> 00:22:24,230
Before I started work
on the Panama Papers,

375
00:22:25,010 --> 00:22:27,220
I thought that
offshore was a kind of small,

376
00:22:28,000 --> 00:22:31,070
minor, who cares, you know,
little aspect of the economic

377
00:22:31,090 --> 00:22:33,190
system we knew
not so much about,

378
00:22:33,210 --> 00:22:35,190
and after reading
the Panama Papers,

379
00:22:35,210 --> 00:22:37,180
I realized it is
the economic system.

380
00:22:37,200 --> 00:22:39,100
It is the system.

381
00:22:39,120 --> 00:22:41,220
Eight trillion dollars
is stuffed in tax havens,

382
00:22:42,000 --> 00:22:44,010
western countries,
including the U.S.,

383
00:22:44,030 --> 00:22:46,200
are losing about 200 billion
dollars a year in tax revenues.

384
00:22:51,000 --> 00:22:52,210
PAUL: We were still
debating, at that time,

385
00:22:52,230 --> 00:22:56,050
whether tax avoidance was a
matter of public interest or

386
00:22:56,070 --> 00:22:58,110
not, or could you simply do
what you liked with your money?

387
00:22:58,130 --> 00:23:00,120
But what it did
establish for us,

388
00:23:00,140 --> 00:23:03,040
the scale of it, it just showed
you there were underground

389
00:23:03,060 --> 00:23:06,150
rivers of money washing around
the globe unbeknownst to

390
00:23:06,170 --> 00:23:08,110
most people.

391
00:23:08,130 --> 00:23:11,230
MARINA: We are writing about an
incredibly damaging part of our

392
00:23:12,010 --> 00:23:16,070
economy that has become so
central and so mainstream that

393
00:23:16,090 --> 00:23:20,000
it's creating French revolution
levels of inequality

394
00:23:20,020 --> 00:23:22,000
and injustice.

395
00:23:24,060 --> 00:23:29,020
And the challenge we have is to
be able to bring this story home

396
00:23:29,040 --> 00:23:33,070
to people, to show them that
this story matters to you,

397
00:23:33,090 --> 00:23:36,110
affects your
life, and guess what?

398
00:23:36,130 --> 00:23:39,140
You are the
victim in this story.

399
00:24:08,130 --> 00:24:09,120
JOHN: Decisions have
been made that

400
00:24:09,140 --> 00:24:12,110
have spared the wealthy,
while focusing instead on

401
00:24:12,130 --> 00:24:16,030
reining in middle and
low-income citizens.

402
00:24:17,170 --> 00:24:20,010
The collective impact of these
failures has been a complete

403
00:24:20,030 --> 00:24:23,090
erosion of ethical standards,
ultimately leading to a novel

404
00:24:23,110 --> 00:24:26,210
system we still call capitalism,
but which is tantamount to

405
00:24:26,230 --> 00:24:30,180
economic slavery.

406
00:24:31,150 --> 00:24:34,090
Hopelessly backward and
inefficient courts have failed.

407
00:24:34,110 --> 00:24:36,200
Judges have too often acquiesced
to the arguments of the rich

408
00:24:36,220 --> 00:24:41,010
whose lawyers, and not
just Mossack Fonseca,

409
00:24:41,030 --> 00:24:43,150
are well-trained in honoring
the letter of the law while

410
00:24:43,170 --> 00:24:46,170
simultaneously doing everything
in their power to desecrate

411
00:24:46,190 --> 00:24:49,050
its spirit.

412
00:24:49,070 --> 00:24:50,050
BEN ON PHONE: Leave your number,
and I will get back to you as

413
00:24:50,070 --> 00:24:51,050
soon as I can.

414
00:24:51,070 --> 00:24:52,060
Thank you very much.

415
00:24:52,220 --> 00:24:53,160
KEVIN: Ben, hey, it's Kevin.

416
00:24:53,180 --> 00:24:56,020
Since we have
outstanding matters,

417
00:24:56,040 --> 00:24:56,200
give me a shout back.

418
00:24:56,220 --> 00:24:58,220
Bye.

419
00:24:59,000 --> 00:25:01,050
One of the things that is
particularly interesting about

420
00:25:01,070 --> 00:25:04,110
the Panama Papers is you
have all the email traffic,

421
00:25:04,130 --> 00:25:07,060
all these different people who
appear in these email threads

422
00:25:07,080 --> 00:25:10,220
going back and forth on
how to handle something.

423
00:25:11,000 --> 00:25:14,060
You see their personalities
and who in the Compliance

424
00:25:14,080 --> 00:25:17,090
Department, who is more serious
about really cracking down and

425
00:25:17,110 --> 00:25:20,140
the tension between
management and compliance.

426
00:25:20,160 --> 00:25:24,050
So at one point, the
Geneva office basically says,

427
00:25:24,070 --> 00:25:28,110
you know, they-they found that
you've got a Syrian tied to a,

428
00:25:28,130 --> 00:25:32,070
to Bashar Al-Assad whose now
under sanction and everything at

429
00:25:32,090 --> 00:25:36,140
the time of these emails,
and the Geneva office says,

430
00:25:36,160 --> 00:25:40,030
well, HSBC's still working
with him so I don't see why

431
00:25:40,050 --> 00:25:41,230
we shouldn't.

432
00:25:42,010 --> 00:25:45,040
You know, so you kinda
see what their thinking is.

433
00:25:47,140 --> 00:25:49,080
You know, they're willing
to work with bad money,

434
00:25:49,100 --> 00:25:53,180
they just have to
be clean about it.

435
00:25:53,200 --> 00:25:57,030
JACK: The customer said, I need
to do the following in terms of

436
00:25:57,050 --> 00:25:58,090
hiding money.

437
00:25:58,110 --> 00:26:00,000
Will you do it for me?

438
00:26:00,020 --> 00:26:02,150
And Mossack Fonseca,
these are all on the records,

439
00:26:02,170 --> 00:26:06,050
would say sure, we'll give
you a Panamanian corporation,

440
00:26:06,070 --> 00:26:09,110
a trust a bank
account somewhere else,

441
00:26:09,130 --> 00:26:10,140
and not to worry.

442
00:26:10,160 --> 00:26:12,170
Nobody will follow the trail.

443
00:26:17,170 --> 00:26:21,060
So simplified, it would explain
how the system works in a really

444
00:26:21,080 --> 00:26:23,140
understandable way.

445
00:26:23,160 --> 00:26:26,230
I worked on a case involving a
drug trafficker in the

446
00:26:27,010 --> 00:26:28,050
Cayman Islands.

447
00:26:28,070 --> 00:26:32,120
His lawyer in Miami said, go see
Joe Blow in the Cayman Islands

448
00:26:32,140 --> 00:26:34,000
and he'll set you up.

449
00:26:34,020 --> 00:26:36,010
AL: We got
everything a man could want.

450
00:26:36,030 --> 00:26:39,010
JACK: Joe Blow in the Cayman
Islands sets up a corporation,

451
00:26:39,030 --> 00:26:42,000
the corporation
opens a bank account.

452
00:26:42,020 --> 00:26:45,160
The guy who is the drug
trafficker now puts money in the

453
00:26:45,180 --> 00:26:50,080
bank account and lets the lawyer
in Cayman control that

454
00:26:50,100 --> 00:26:51,060
bank account.

455
00:26:51,080 --> 00:26:53,110
There comes a moment
six months later...

456
00:26:53,130 --> 00:26:56,000
ACTOR 1:
You took out the money.

457
00:26:56,020 --> 00:26:57,120
AL: Yeah.

458
00:26:57,140 --> 00:26:59,120
JACK: He wants to move the
money to hide the trail,

459
00:26:59,140 --> 00:27:01,160
and he calls the
lawyer and says,

460
00:27:01,180 --> 00:27:04,110
well, we need another bank
account in the name of another

461
00:27:04,130 --> 00:27:06,160
corporation, and I want
to transfer the money from

462
00:27:06,180 --> 00:27:11,040
Corporation A to Corporation B,
and let's do it so the amounts

463
00:27:11,060 --> 00:27:12,020
don't match.

464
00:27:12,040 --> 00:27:15,010
And then, the moment
comes when he says,

465
00:27:15,030 --> 00:27:18,020
I want to use the money, and
he goes back for the lawyer in

466
00:27:18,040 --> 00:27:21,090
Cayman and he says, we're
gonna have the bank that has the

467
00:27:21,110 --> 00:27:26,060
second transfer lend the money
to the guy's brother who owns a,

468
00:27:26,080 --> 00:27:29,000
massage parlor in Houston.

469
00:27:29,020 --> 00:27:32,090
That way, it'll
look like a loan, non-taxable.

470
00:27:32,110 --> 00:27:33,090
Where did you get it?

471
00:27:33,110 --> 00:27:34,170
I borrowed it.

472
00:27:34,190 --> 00:27:36,210
The whole thing looks
like it's perfectly clean

473
00:27:36,230 --> 00:27:38,080
and perfectly okay.

474
00:27:53,160 --> 00:27:55,070
BASTIAN: Hey, how you doing?

475
00:27:55,090 --> 00:27:59,020
I was kind of skeptical because
I wasn't a big fan of inviting

476
00:27:59,040 --> 00:28:00,180
so many colleagues.

477
00:28:00,200 --> 00:28:02,180
I thought, you know, maybe
50 or 100 really enough,

478
00:28:02,200 --> 00:28:09,130
and we knew around 50 or 100
from previous investigations,

479
00:28:09,150 --> 00:28:11,180
so we trusted them.

480
00:28:11,200 --> 00:28:17,180
JOURNALIST: Do they know
that you got the data?

481
00:28:17,200 --> 00:28:19,130
Or that it's out there
available for someone?

482
00:28:22,210 --> 00:28:28,070
FREDERIK: I wondered if we could
keep this whole project secret.

483
00:28:28,090 --> 00:28:31,230
There's one basic rule,
and that might sound rude,

484
00:28:32,010 --> 00:28:32,230
but it's important.

485
00:28:33,010 --> 00:28:35,050
That's shut up and encrypt.

486
00:28:35,070 --> 00:28:39,050
We always told our colleagues
that you cannot tell anyone.

487
00:28:39,070 --> 00:28:41,150
Not your wife, not
your best friend,

488
00:28:41,170 --> 00:28:45,040
nobody, about this project, and
you have to encrypt everything.

489
00:28:50,080 --> 00:28:52,020
GERARD: You know, my primary
interest at this-this stage of

490
00:28:52,040 --> 00:28:54,100
the investigation was to
establish public interest.

491
00:28:54,120 --> 00:28:56,110
So we only were
interested in public figures.

492
00:28:56,130 --> 00:28:59,070
You know,
politicians, businesspeople,

493
00:28:59,090 --> 00:29:00,230
anyone with a public profile.

494
00:29:01,010 --> 00:29:06,000
And you know, the fastest way to
find that out is to give a set

495
00:29:06,020 --> 00:29:08,060
of documents from Indonesia
to an Indonesian journalist.

496
00:29:08,080 --> 00:29:10,220
Give a set of documents
from Iceland to an

497
00:29:11,000 --> 00:29:12,130
Icelandic journalist.

498
00:29:12,150 --> 00:29:14,170
They would identify pretty
quickly who was worth looking at

499
00:29:14,190 --> 00:29:16,140
on this list and who
wasn't worth looking at.

500
00:29:26,060 --> 00:29:28,040
JOSEPH: I was angry that I had,
nobody had called me,

501
00:29:28,060 --> 00:29:30,040
and I wasn't, I wasn't
involved.

502
00:29:30,060 --> 00:29:33,030
You know, I have never
collaborated in a giant thing

503
00:29:33,050 --> 00:29:34,040
like that.

504
00:29:34,060 --> 00:29:36,120
I collaborate
within my newsroom,

505
00:29:36,140 --> 00:29:39,040
sometimes with,
like, one, you know,

506
00:29:39,060 --> 00:29:40,010
an outside group.

507
00:29:40,030 --> 00:29:42,160
Most news
organizations are not global,

508
00:29:42,180 --> 00:29:44,160
and then I think this becomes
much more important because it

509
00:29:44,180 --> 00:29:47,190
seems like more and more,
the best stories are global.

510
00:29:47,210 --> 00:29:49,200
This was like a ringing
affirmation that you can

511
00:29:49,220 --> 00:29:51,150
actually do it, uh, and
you can do it at-at scale.

512
00:29:59,070 --> 00:30:02,160
Then the ICIJ said, for example,
we need somebody in Panama.

513
00:30:02,180 --> 00:30:07,080
And I said, I don't
trust anybody in Panama.

514
00:30:34,230 --> 00:30:35,170
RITA: When I first looked
at the assignment

515
00:30:35,190 --> 00:30:38,220
that we
were going to do, I flipped.

516
00:30:39,000 --> 00:30:40,210
And the first document I
saw, it was an invoice.

517
00:30:40,230 --> 00:30:42,180
That's when I said, oh, my god.

518
00:30:42,200 --> 00:30:46,190
This is huge, because invoices
are probably one of the most,

519
00:30:46,210 --> 00:30:50,180
private
documents within a law firm,

520
00:30:50,200 --> 00:30:54,000
and then when I see the names of
people I know in the database,

521
00:30:54,020 --> 00:30:58,190
you know, I was really, really,
really scared because I knew

522
00:30:58,210 --> 00:31:02,100
what was coming behind that,
and I knew the consequences that

523
00:31:02,120 --> 00:31:05,000
this was going to have.

524
00:31:06,200 --> 00:31:08,210
WOMAN 2: Rita Vasquez was also a
lawyer in the offshore services

525
00:31:08,230 --> 00:31:12,150
industry for many years,
so when we learned that,

526
00:31:12,170 --> 00:31:14,100
we were fascinated.

527
00:31:14,120 --> 00:31:18,140
We had the opportunity to work
with an insider who understands

528
00:31:18,160 --> 00:31:22,100
this industry from within.

529
00:31:23,160 --> 00:31:25,120
RITA: Seeing my friends and
people that I care for in that

530
00:31:25,140 --> 00:31:28,110
data really made me wanted to
go deeper into the project.

531
00:31:31,000 --> 00:31:35,110
As a newspaper organization,
it is not our duty to tell if a

532
00:31:35,130 --> 00:31:37,110
private person is doing
something wrong with their own

533
00:31:37,130 --> 00:31:40,140
money, but it's our duty to tell
if somebody who had access to

534
00:31:40,160 --> 00:31:43,110
public funds or if
somebody who had,

535
00:31:43,130 --> 00:31:46,030
be part of a government or had
some sort of a jurisdictional

536
00:31:46,050 --> 00:31:49,060
power was doing something wrong.

537
00:31:54,000 --> 00:31:57,170
ROBERTO: The mandate of La
Prensa was to return freedom of

538
00:31:57,190 --> 00:32:03,110
expression to the country as an
infrastructure for democracy.

539
00:32:03,130 --> 00:32:05,060
In the midst of dictatorship.

540
00:32:20,020 --> 00:32:22,090
ROBERTO: But somehow it
worked, and in six months,

541
00:32:22,110 --> 00:32:25,150
we were the newspaper
of record of Panama.

542
00:32:25,170 --> 00:32:28,130
When we sat at our first
editorial meeting after

543
00:32:28,150 --> 00:32:30,160
everything was set
up, we said, well,

544
00:32:30,180 --> 00:32:32,070
how are we gonna handle this?

545
00:32:32,090 --> 00:32:36,170
Do we go softly increasing
our pressure or do we hit 'em

546
00:32:36,190 --> 00:32:39,080
straight in the
face from day one?

547
00:32:39,100 --> 00:32:40,110
We decided the second.

548
00:32:48,190 --> 00:32:50,160
SCOTT: When we
heard Mossack Fonseca,

549
00:32:50,180 --> 00:32:54,010
we knew that we were uniquely
positioned within the project

550
00:32:54,030 --> 00:32:56,130
because I played for the Mossack
Fonseca softball team in

551
00:32:56,150 --> 00:32:58,050
the BVI.

552
00:32:58,070 --> 00:33:02,170
Four of our closest friends
worked for Mossack Fonseca.

553
00:33:02,190 --> 00:33:05,170
And so we had a perspective
that out of the journalists,

554
00:33:05,190 --> 00:33:09,060
there were two people that
knew the inner workings of that

555
00:33:09,080 --> 00:33:11,050
company better than anybody.

556
00:33:12,230 --> 00:33:16,050
My journalism career was never
going to lead to any kind

557
00:33:16,070 --> 00:33:17,130
of greatness.

558
00:33:17,150 --> 00:33:19,090
I was never gonna work
for the New York Times.

559
00:33:19,110 --> 00:33:21,090
You know, I was the English
editor of La Prensa in Panama.

560
00:33:21,110 --> 00:33:24,120
That's not the sort of
things that make a great bio,

561
00:33:24,140 --> 00:33:27,140
and I always compared it to a
career minor league pitcher that

562
00:33:27,160 --> 00:33:32,070
suddenly you get to start
game seven of the World Series.

563
00:33:33,000 --> 00:33:33,220
When you find out
it's world leaders,

564
00:33:34,000 --> 00:33:35,090
it's drug traffickers.

565
00:33:35,110 --> 00:33:38,150
la Reina Del Sur, who is
one of the most famous female

566
00:33:38,170 --> 00:33:41,210
narco-terrorists in
history; Carlos Quintero,

567
00:33:41,230 --> 00:33:46,090
who is described as making
Pablo Escobar look like a baby.

568
00:33:47,160 --> 00:33:50,130
All of these names that
come flooding at you,

569
00:33:50,150 --> 00:33:55,070
and you, your first thought is,
how did they get away with this?

570
00:34:33,200 --> 00:34:35,200
BASTIAN: At least
that's my assumption.

571
00:34:35,220 --> 00:34:42,070
I mean, we've been working on
offshore since, for 2012.

572
00:34:43,170 --> 00:34:46,040
My private
explanation, more or less,

573
00:34:46,060 --> 00:34:51,000
is that I know that the source
had contact with other outlets,

574
00:34:51,020 --> 00:34:55,120
even before me, and they had
not reacted in the way that the

575
00:34:55,140 --> 00:34:58,030
leaker wished they had.

576
00:34:58,180 --> 00:35:00,200
JOSEPH: Some outlets may have
passed just because they tend

577
00:35:00,220 --> 00:35:02,230
not to do giant collaborations.

578
00:35:03,010 --> 00:35:05,080
You're devoting some of your
best people to something that

579
00:35:05,100 --> 00:35:06,130
might take a year.

580
00:35:06,150 --> 00:35:08,040
That, resources are scarce.

581
00:35:08,060 --> 00:35:11,160
Investigative talent on
your payroll is-is scarce,

582
00:35:11,180 --> 00:35:14,090
it's expensive, and you're,
you're taking a leap into

583
00:35:14,110 --> 00:35:16,170
something that,
from the beginning,

584
00:35:16,190 --> 00:35:18,150
you know is not
gonna be an exclusive.

585
00:35:21,180 --> 00:35:23,000
JOHN: The media has failed.

586
00:35:23,020 --> 00:35:26,030
In addition to
Süddeutsche Zeitung and ICIJ,

587
00:35:26,050 --> 00:35:29,010
and despite explicit
claims to the contrary,

588
00:35:29,030 --> 00:35:32,130
several major media outlets did
have editors review documents

589
00:35:32,150 --> 00:35:34,010
for the Panama Papers.

590
00:35:34,030 --> 00:35:36,120
They chose not to cover them.

591
00:35:39,070 --> 00:35:43,170
BASTIAN: There's this probably
frustrated person or those

592
00:35:43,190 --> 00:35:49,210
persons, we don't know,
trying to reach someone that is

593
00:35:49,230 --> 00:35:51,130
actually listening.

594
00:35:51,150 --> 00:35:53,170
LUKE: I mean, there was a flavor
of John Doe's personality.

595
00:35:53,190 --> 00:35:56,010
John Doe was
worried about exposure.

596
00:35:56,030 --> 00:35:57,220
He was also kind of worried
about his own sort of personal

597
00:35:58,000 --> 00:35:59,130
safety, so we
don't know who it is.

598
00:35:59,150 --> 00:36:01,000
It could be a he,
it could be a she.

599
00:36:01,020 --> 00:36:02,050
I don't think it's a they.

600
00:36:02,070 --> 00:36:05,000
KEVIN: I don't
think anyone benefits,

601
00:36:05,020 --> 00:36:06,210
you know, it's kind of death by
a thousand cuts if you give a

602
00:36:06,230 --> 00:36:08,210
little information here, a
little information there,

603
00:36:09,000 --> 00:36:10,220
you end up
compromising your source,

604
00:36:11,000 --> 00:36:13,020
and so I've kind of
pushed back internally,

605
00:36:13,040 --> 00:36:16,110
I think, on that, so that
people are more cautious about

606
00:36:16,130 --> 00:36:18,030
what they say about the source.

607
00:36:18,050 --> 00:36:20,100
JOSEPH: There are lots of good
reasons for sources to be afraid

608
00:36:20,120 --> 00:36:21,140
of talking to the press.

609
00:36:21,160 --> 00:36:24,020
It can be
an enormous risk.

610
00:36:24,040 --> 00:36:26,020
You know,
they can get fired,

611
00:36:26,040 --> 00:36:27,230
they can get
jailed in some places,

612
00:36:28,010 --> 00:36:29,140
they can get killed.

613
00:36:29,160 --> 00:36:31,060
And so, but one of those
reasons is they don't trust the

614
00:36:31,080 --> 00:36:33,070
operational security of the
journalist,

615
00:36:33,090 --> 00:36:36,060
and sometimes they're right
to be very worried about that,

616
00:36:36,080 --> 00:36:38,060
and they should, you know,
if you're a source out there,

617
00:36:38,080 --> 00:36:40,160
you should do your due
diligence and pick your

618
00:36:40,180 --> 00:36:41,140
journalist carefully.

619
00:36:41,160 --> 00:36:45,010
JOHN: I've watched
as one after another,

620
00:36:45,030 --> 00:36:48,140
whistleblowers and activists
in the United States and Europe

621
00:36:48,160 --> 00:36:51,160
have had their lives destroyed,
and the circumstances they find

622
00:36:51,180 --> 00:36:54,150
themselves in after shining a
light on obvious wrongdoing.

623
00:36:54,170 --> 00:36:57,220
NEWS REPORTER 16: Snowden,
who was holed up in Hong Kong,

624
00:36:58,000 --> 00:37:00,130
wanted in the U.S.,
is now in Russia.

625
00:37:00,150 --> 00:37:02,160
JOHN: Edward Snowden
is stranded in Moscow,

626
00:37:02,180 --> 00:37:05,150
exiled due to the Obama
Administration's decision to

627
00:37:05,170 --> 00:37:08,040
prosecute him under
the Espionage Act.

628
00:37:08,060 --> 00:37:11,040
Bradley Birkenfeld was awarded
millions for his information

629
00:37:11,060 --> 00:37:14,190
concerning Swiss bank UBS,
and was still given a prison

630
00:37:14,210 --> 00:37:16,220
sentence by the
Justice Department.

631
00:37:17,000 --> 00:37:19,230
Legitimate whistleblowers
who expose unquestionable

632
00:37:20,010 --> 00:37:22,200
wrongdoing, whether
insiders or outsiders,

633
00:37:22,220 --> 00:37:25,020
deserve immunity from
government retribution.

634
00:37:34,180 --> 00:37:37,190
WOMAN 3: Because of its
nature, of how global it was,

635
00:37:37,210 --> 00:37:41,130
we all realized that we need
to get together in person,

636
00:37:41,150 --> 00:37:44,010
so Munich was the
perfect place, of course,

637
00:37:44,030 --> 00:37:48,100
because we needed to go to the
home of Süddeutsche Zeitung.

638
00:37:49,120 --> 00:37:50,090
KEVIN: That, itself,
had to stay secret,

639
00:37:50,110 --> 00:37:53,150
so you couldn't say,
"I'm in Munich for X."

640
00:37:53,170 --> 00:37:55,120
People will naturally
ask, well, you know,

641
00:37:55,140 --> 00:37:56,190
what, what are you doing there?

642
00:37:56,210 --> 00:37:57,220
Oh, work meeting or, uh, you had
to come up with something that

643
00:37:58,000 --> 00:38:01,040
didn't sound anything like
what you were doing there.

644
00:38:09,050 --> 00:38:15,000
BASTIAN: The meeting was
kind of the decisive point.

645
00:38:15,020 --> 00:38:19,010
it was more or less our job to
make people enthusiastic about

646
00:38:19,030 --> 00:38:20,160
it and to get them on board.

647
00:38:24,070 --> 00:38:25,050
BASTIAN: I was so nervous.

648
00:38:25,070 --> 00:38:26,110
I hadn't slept for three
nights because it was,

649
00:38:26,130 --> 00:38:29,200
I mean, I was really, really
nervous because I thought if I

650
00:38:29,220 --> 00:38:33,150
mess this up, you know,
then this is the big,

651
00:38:33,170 --> 00:38:34,200
the big chance.

652
00:38:34,220 --> 00:38:37,010
The biggest collaboration of
investigative journalists...

653
00:38:37,030 --> 00:38:41,010
Sitting in front of more than a
hundred journalists showed me

654
00:38:41,030 --> 00:38:44,130
the first time how big this
project already was at

655
00:38:44,150 --> 00:38:47,070
that moment.

656
00:38:48,030 --> 00:38:49,010
JULIETTE: It was like the
United Nations of journalism,

657
00:38:49,030 --> 00:38:51,180
and I've never
experienced anything like it.

658
00:38:51,200 --> 00:38:53,210
We were working on a story,
and we were all working on

659
00:38:53,230 --> 00:38:54,220
it together.

660
00:38:55,000 --> 00:38:56,220
EMILIA: Sorry, well, I'm Emilia.

661
00:38:57,000 --> 00:38:57,220
I'm from Venezuela.

662
00:38:58,000 --> 00:38:59,130
I think...

663
00:38:59,150 --> 00:39:02,170
MARINA: We are not, uh,
forcing you to do this story.

664
00:39:02,190 --> 00:39:05,020
We are not paying
you to do this story.

665
00:39:05,040 --> 00:39:08,070
This is the story, and
you need to invest in it,

666
00:39:08,090 --> 00:39:11,100
and you are only going to get
out of it as much as you put

667
00:39:11,120 --> 00:39:13,170
into it.

668
00:39:13,190 --> 00:39:16,010
BASTIAN: Everybody
was, I'm all in.

669
00:39:16,030 --> 00:39:18,100
I want to know more.

670
00:39:26,040 --> 00:39:30,020
WOMAN 3: It's a time right
now in newsrooms of

671
00:39:30,040 --> 00:39:31,100
great uncertainty.

672
00:39:31,120 --> 00:39:33,210
You know, what will be
the fate of newspapers,

673
00:39:33,230 --> 00:39:39,000
which used to be the
watchdogs of the media.

674
00:39:41,120 --> 00:39:43,020
LUKE: In a time when
everyone is broke,

675
00:39:43,040 --> 00:39:45,190
when no one's clicking the ads,
where Facebook is taking all our

676
00:39:45,210 --> 00:39:48,150
money, where, where
newsrooms are-are just kind of

677
00:39:48,170 --> 00:39:52,030
empty-pocketed...

678
00:39:52,050 --> 00:39:54,100
MARINA: We really had
to convince these media

679
00:39:54,120 --> 00:39:56,190
organizations and these
journalists to work together,

680
00:39:56,210 --> 00:39:59,100
and we often got responses
like, why do we need you?

681
00:39:59,120 --> 00:40:01,000
Or why do we need one another?

682
00:40:01,020 --> 00:40:02,160
We can do it on our own.

683
00:40:02,180 --> 00:40:07,190
And perhaps 10, 15 years ago, it
was pre-media crisis and a lot

684
00:40:07,210 --> 00:40:11,070
of newspapers were
feeling really strong still,

685
00:40:11,090 --> 00:40:14,090
and they still had foreign
correspondents and thought that

686
00:40:14,110 --> 00:40:18,060
they could do it on their own,
but as the crisis in the media

687
00:40:18,080 --> 00:40:21,200
took place, and
stories became more complex,

688
00:40:21,220 --> 00:40:27,030
as technology evolved, it became
obvious that we needed to join

689
00:40:27,050 --> 00:40:31,030
forces, and they learned through
the process how much more

690
00:40:31,050 --> 00:40:36,030
impactful and powerful their
reporting can become when we

691
00:40:36,050 --> 00:40:39,160
work as a collective.

692
00:40:41,060 --> 00:40:44,050
BASTIAN: We immediately realized
the impact of having more people

693
00:40:44,070 --> 00:40:49,030
from different countries inside
the investigation because we had

694
00:40:49,050 --> 00:40:51,110
more, more, more findings.

695
00:40:51,130 --> 00:40:53,200
LUKE: Generally, I would
say we found the anonymous

696
00:40:53,220 --> 00:40:55,150
international rich.

697
00:40:55,170 --> 00:40:59,040
We, we found Spanish royals, we
found a German chicken farmer,

698
00:40:59,060 --> 00:41:02,070
we found a French dentist,
we found people who would,

699
00:41:02,090 --> 00:41:04,050
use fake names when
dealing with their lawyers,

700
00:41:04,070 --> 00:41:06,050
so instead of saying,
you know, you know,

701
00:41:06,070 --> 00:41:08,210
hello, here is Ivan,
you know, they would say,

702
00:41:08,230 --> 00:41:10,060
"Hi, it's Harry Potter."

703
00:41:10,080 --> 00:41:12,060
And, and there
was correspondents,

704
00:41:12,080 --> 00:41:15,170
you know, dear
Harry, your $25,000

705
00:41:15,190 --> 00:41:17,090
has arrived in the Bahamas.

706
00:41:17,110 --> 00:41:19,040
I mean, it was just like the wo-
most weird fishing expedition.

707
00:41:19,060 --> 00:41:21,060
I mean, there were
fish you would expect,

708
00:41:21,080 --> 00:41:23,050
and there was some very ugly,
small fish you didn't expect.

709
00:41:23,070 --> 00:41:25,010
BASTIAN: Whenever I
went into the data,

710
00:41:25,030 --> 00:41:26,080
I found something new.

711
00:41:26,100 --> 00:41:29,010
I found scandals
in Africa, in Latin America.

712
00:41:32,150 --> 00:41:34,010
SPORTS ANNOUNCER: Messi now,
everyone on the edge of their

713
00:41:34,030 --> 00:41:36,080
seats, Messi going for goal!

714
00:41:36,100 --> 00:41:37,090
Oh!

715
00:41:39,060 --> 00:41:40,130
SPORTS ANNOUNCER:
He's a man on a mission!

716
00:41:40,150 --> 00:41:42,210
MAN 2: Lionel Messi, his
family fortune,

717
00:41:43,000 --> 00:41:46,140
is in the Panama Papers,
and is now in the courts.

718
00:41:46,160 --> 00:41:49,020
No one in their right mind in
Latin America thought that FIFA

719
00:41:49,040 --> 00:41:50,150
wasn't corrupt.

720
00:41:52,150 --> 00:41:54,100
It was not a surprise to
find the FIFA officials.

721
00:41:54,120 --> 00:41:58,050
That was kind of one of, people
thought was gonna be in there.

722
00:41:58,070 --> 00:42:00,100
Kids are under
contract, 13 or 14,

723
00:42:00,120 --> 00:42:03,230
whether or not they ever become
a pro has very little to do with

724
00:42:04,010 --> 00:42:06,200
their talent level, and more to
do with which lawyer is screwing

725
00:42:06,220 --> 00:42:08,110
what agent in a business deal.

726
00:42:08,130 --> 00:42:11,110
In Lionel Messi, there's no
evidence that he himself had any

727
00:42:11,130 --> 00:42:14,100
hand in any of this, but the
people who handle him and the

728
00:42:14,120 --> 00:42:16,070
whole contracts and
everything, they did.

729
00:42:19,040 --> 00:42:22,090
GIANNI: And we will restore the
image of FIFA and the respect of

730
00:42:22,110 --> 00:42:25,110
FIFA, and everyone in the world
will applaud us and will applaud

731
00:42:25,130 --> 00:42:30,080
all of you for what we'll
do in FIFA in the future.

732
00:42:37,120 --> 00:42:40,070
LUKE: We found Sergey
Roldugin, Putin's best friend,

733
00:42:40,090 --> 00:42:43,080
ostensibly, second-hand
car, not very wealthy,

734
00:42:43,100 --> 00:42:45,150
but we found almost
a billion dollars.

735
00:42:45,170 --> 00:42:48,160
It came from Bank Rossiya, which
is a kind of crony bank from the

736
00:42:48,180 --> 00:42:53,060
regime in Saint Petersburg,
right through to secret offshore

737
00:42:53,080 --> 00:42:56,060
companies, and then a lot of
that cash was recycled back into

738
00:42:56,080 --> 00:42:59,230
Russia, including, um, into
the wedding resort where Putin's

739
00:43:00,010 --> 00:43:02,100
daughter, Caterina,
got married in 2013.

740
00:43:02,120 --> 00:43:05,060
And so from
Russia, what we saw was,

741
00:43:05,080 --> 00:43:07,110
in a way, what you might call
a kind of neo-feudal system.

742
00:43:07,130 --> 00:43:11,030
You could see how not
just Putin's KGB chums were

743
00:43:11,050 --> 00:43:14,120
billionaires, but how the next
generation were accumulating

744
00:43:14,140 --> 00:43:18,040
assets, marrying each other,
dodging American sanctions and

745
00:43:18,060 --> 00:43:19,120
so on.

746
00:43:19,140 --> 00:43:21,080
BASTIAN: I mean, if
you're Vladimir Putin,

747
00:43:21,100 --> 00:43:23,070
you don't go to
Mossack Fonseca and say,

748
00:43:23,090 --> 00:43:24,160
"I want a company in my name."

749
00:43:24,180 --> 00:43:27,030
But you'd probably send
someone that you trust.

750
00:43:27,050 --> 00:43:29,120
And this is exactly
how this world works.

751
00:43:29,140 --> 00:43:36,040
TIM: When you can set up
corporations in such a complex

752
00:43:36,060 --> 00:43:39,000
way and changing ownership.

753
00:43:39,020 --> 00:43:41,110
One woman I looked
into was Leticia Montoya,

754
00:43:41,130 --> 00:43:45,170
a director in
10,969 corporations.

755
00:43:49,150 --> 00:43:52,040
Think about that.

756
00:43:52,060 --> 00:43:55,060
I mean, she doesn't, has no
idea whatsoever what those

757
00:43:55,080 --> 00:43:56,050
corporations do.

758
00:44:07,010 --> 00:44:08,050
RITA: It's just a job,
and she's a secretary.

759
00:44:08,070 --> 00:44:12,090
She, I mean, those who went to
her house could have seen that

760
00:44:12,110 --> 00:44:16,010
she has no money, she lives
in a fisherman community,

761
00:44:16,030 --> 00:44:17,130
not in the city.

762
00:44:17,150 --> 00:44:20,130
I mean, it's not like she
made any money on this.

763
00:44:23,150 --> 00:44:27,140
JACK: This has gone on country
after country after country.

764
00:44:27,160 --> 00:44:32,020
The amounts that are being
pulled out are really at the

765
00:44:32,040 --> 00:44:37,050
expense of average people who
simply can't get services from

766
00:44:37,070 --> 00:44:40,050
their government because
the money's been flat stolen.

767
00:44:45,050 --> 00:44:48,180
JACK: I spoke at a conference
to the Inter-American Bar

768
00:44:48,200 --> 00:44:52,030
Association in
Cochabamba, Bolivia,

769
00:44:52,050 --> 00:44:57,110
and I tried to say, lawyers
job is to keep people honest,

770
00:44:57,130 --> 00:45:01,140
and you shouldn't be helping
them evade the law or break

771
00:45:01,160 --> 00:45:02,230
the law.

772
00:45:03,010 --> 00:45:05,220
My audience began
to laugh at me.

773
00:45:06,000 --> 00:45:08,020
I blew up.

774
00:45:08,040 --> 00:45:11,010
Why do you think you
don't have clean water?

775
00:45:11,030 --> 00:45:13,070
Why do you think
people are so poor?

776
00:45:13,090 --> 00:45:17,140
It's because you, as a
group of professionals,

777
00:45:17,160 --> 00:45:22,040
are teaching people how not to
be participants in your society.

778
00:45:24,040 --> 00:45:26,160
SCOTT: The
fundamental question I ask is,

779
00:45:26,180 --> 00:45:28,230
well, who makes money off this?

780
00:45:29,010 --> 00:45:31,050
Who makes money
off this industry?

781
00:45:31,070 --> 00:45:34,040
And obviously, Mossack
Fonseca made a lot of money,

782
00:45:34,060 --> 00:45:36,150
and obviously their
clients who avoid taxes,

783
00:45:36,170 --> 00:45:40,000
they make a lot of money, but
banks also make a lot of money,

784
00:45:40,020 --> 00:45:42,140
financial
institutions, Wall Street.

785
00:45:42,160 --> 00:45:46,060
You can't have a major
business if you don't have banks

786
00:45:46,080 --> 00:45:48,060
complicit with your business.

787
00:45:48,080 --> 00:45:52,040
TIM: The banks are certainly a
key cog in this whole mechanism

788
00:45:52,060 --> 00:45:55,110
set up to create distance
between the real owners of the

789
00:45:55,130 --> 00:45:58,040
money and-and-and the
corporations that nominally,

790
00:45:58,060 --> 00:46:02,080
have control over it,
but banks donate a lot to

791
00:46:02,100 --> 00:46:06,140
politicians, and uh,
you know,

792
00:46:06,160 --> 00:46:08,040
there you go.

793
00:46:08,060 --> 00:46:11,200
WOMAN 4: The banks and the
accounting firms and the law

794
00:46:11,220 --> 00:46:15,150
firms, they are basically
spending all of their resources

795
00:46:15,170 --> 00:46:21,040
in trying to damage national
treasuries in creating an

796
00:46:21,060 --> 00:46:26,040
illusion of-of an economic
system that works only for the

797
00:46:26,060 --> 00:46:31,160
1%, and they are working to
deepen that gap between the 1%

798
00:46:31,180 --> 00:46:34,040
and the rest of the world.

799
00:46:53,190 --> 00:46:55,050
WOMAN 4: We found David
Cameron's dad in the data with

800
00:46:55,070 --> 00:46:57,120
his offshore fund.

801
00:46:59,060 --> 00:47:00,010
DAVID: I'm
very relaxed about,

802
00:47:00,030 --> 00:47:01,040
publishing these things.

803
00:47:01,060 --> 00:47:04,120
There's no secrets
about my status.

804
00:47:04,140 --> 00:47:08,040
I am paid handsomely
as your Prime Minister,

805
00:47:08,060 --> 00:47:10,050
and that is my
main source of income,

806
00:47:10,070 --> 00:47:13,150
and I have a house I used to
live in before I moved into

807
00:47:13,170 --> 00:47:16,000
Downing Street, and I rent that
out and I get the income

808
00:47:16,020 --> 00:47:17,030
from that.

809
00:47:17,050 --> 00:47:18,070
I don't have other
sources of income,

810
00:47:18,090 --> 00:47:19,210
so there will be
no surprises,

811
00:47:19,230 --> 00:47:22,060
in terms of my tax
affairs, but I'm very relaxed,

812
00:47:22,080 --> 00:47:23,010
as I've always said.

813
00:47:23,030 --> 00:47:24,160
Nothing's changed.

814
00:47:25,140 --> 00:47:26,020
JULIETTE: It wasn't even a
surprise that his dad had had

815
00:47:26,040 --> 00:47:27,030
a fund.

816
00:47:27,050 --> 00:47:29,060
It's just that he
wouldn't say he had money in it.

817
00:47:29,080 --> 00:47:31,200
In order to not have
the fund taxed in the UK,

818
00:47:31,220 --> 00:47:33,190
you had to have majority of
foreign directors on the company

819
00:47:33,210 --> 00:47:35,210
board, so the third
was Swiss, a third were,

820
00:47:35,230 --> 00:47:37,230
were in the Bahamas, and-and
everything was run out of the

821
00:47:38,010 --> 00:47:40,130
Bahamas, so they had this army
of people just assign things

822
00:47:40,150 --> 00:47:42,150
there, so they
were pretending to,

823
00:47:42,170 --> 00:47:45,230
devise the investment
strategy and trade gold and

824
00:47:46,010 --> 00:47:48,130
bonds and things like that, but
all the instructions were coming

825
00:47:48,150 --> 00:47:50,130
by telephone from London.

826
00:47:54,110 --> 00:47:55,160
MAN 2: One of the thing is we
found is not only did Mossack

827
00:47:55,180 --> 00:47:59,100
Fonseca have a number of Chinese
companies that it registered in

828
00:47:59,120 --> 00:48:01,190
Nevada as shell
companies, some of those,

829
00:48:01,210 --> 00:48:03,190
perhaps, to do business
in the United States,

830
00:48:03,210 --> 00:48:08,090
but more likely than not, to
hide assets somewhere else.

831
00:48:09,000 --> 00:48:11,110
MAN 3: Brazil was one of
the, the hottest things,

832
00:48:11,130 --> 00:48:13,120
and having been a
correspondent there myself,

833
00:48:13,140 --> 00:48:15,150
I was very interested in
working with the Brazilian team.

834
00:48:15,170 --> 00:48:19,080
TIM: We found
payoffs to politicians.

835
00:48:19,100 --> 00:48:22,140
More than $700 million
in bribes had been paid.

836
00:48:22,160 --> 00:48:25,160
MAN 4: Two-thirds of the
country's legislature had been

837
00:48:25,180 --> 00:48:27,070
tied to off-shore companies.

838
00:48:27,090 --> 00:48:30,220
Many of the politicians were
using shell companies through

839
00:48:31,000 --> 00:48:34,030
Mossack Fonseca in Nevada to
hide assets they owned back in,

840
00:48:34,050 --> 00:48:36,090
in Brazil.

841
00:48:36,200 --> 00:48:38,140
Nobody pays a
bribe and says, hey,

842
00:48:38,160 --> 00:48:39,190
here's a bribe.

843
00:48:39,210 --> 00:48:42,130
They do it through
consulting fees,

844
00:48:42,150 --> 00:48:44,150
they do it through
structured investments,

845
00:48:44,170 --> 00:48:45,170
and they do it through shell
companies that pay other

846
00:48:45,190 --> 00:48:46,180
shell companies.

847
00:48:50,110 --> 00:48:54,050
MAN 5: The papers were very
clear that this problem is not

848
00:48:54,070 --> 00:48:58,160
limited to small
countries in Africa.

849
00:48:58,180 --> 00:49:02,080
The problem is huge
here in the United States.

850
00:49:02,100 --> 00:49:07,080
The tax evasion problem is
huge here in the United States.

851
00:49:08,030 --> 00:49:09,120
KEVIN: There were a lot of
Americans in Panama Papers,

852
00:49:09,140 --> 00:49:11,190
so here's this
perception that there weren't.

853
00:49:11,210 --> 00:49:15,080
I think what was missing
was a Putin-type big name,

854
00:49:15,100 --> 00:49:18,200
but the very kind of people
you'd expect to be in the Panama

855
00:49:18,220 --> 00:49:20,110
Papers were in there.

856
00:49:20,130 --> 00:49:23,080
all kinds of SEC
fraud, pump and dump,

857
00:49:23,100 --> 00:49:25,160
penny stocks, and a
lot of hedge funds.

858
00:49:25,180 --> 00:49:29,130
Those kinda guys who need that
anonymity to make that work.

859
00:49:29,150 --> 00:49:32,110
Those guys are in here in
some significant numbers,

860
00:49:32,130 --> 00:49:34,100
and unfortunately,
that's gotten easier,

861
00:49:34,120 --> 00:49:36,200
not harder in the
aftermath of Trump's election.

862
00:49:36,220 --> 00:49:43,090
DONALD: I am officially running
for President of the United

863
00:49:43,110 --> 00:49:49,110
States, and we are going to
make our country great again.

864
00:49:51,010 --> 00:49:54,020
BASTIAN: Having Donald Trump
as the President of the United

865
00:49:54,040 --> 00:50:00,080
States let me feel a little bit
strange knowing that he also had

866
00:50:00,100 --> 00:50:02,120
some offshore deals in his past.

867
00:50:02,140 --> 00:50:05,180
HILLARY: He didn't pay
any federal income tax, so--

868
00:50:05,200 --> 00:50:07,110
DONALD TRUMP:
That makes me smart.

869
00:50:07,130 --> 00:50:09,010
HILLARY CLINTON: --if he's paid
zero, that's zero for troops--

870
00:50:09,030 --> 00:50:10,060
MAN 3: Trump is obviously
one we were focused on from

871
00:50:10,080 --> 00:50:11,220
the very beginning.

872
00:50:12,000 --> 00:50:14,230
He appeared about
3,450 times that we know of.

873
00:50:15,010 --> 00:50:17,060
That's not to say his partners.

874
00:50:17,080 --> 00:50:18,200
That's just him by name.

875
00:50:19,220 --> 00:50:21,230
The big find was a lot of
documents around the

876
00:50:22,010 --> 00:50:24,130
Panama Hotel project.

877
00:50:24,150 --> 00:50:26,180
NEWS REPORTER 17: Trump Ocean
Club soars over the Pacific and

878
00:50:26,200 --> 00:50:28,140
Panama City.

879
00:50:28,160 --> 00:50:31,170
It's also where criminals,
everywhere from Russian

880
00:50:31,190 --> 00:50:35,090
gangsters to money launderers
for Latin American drug cartels

881
00:50:35,110 --> 00:50:38,020
were able to hide their cash.

882
00:50:38,040 --> 00:50:40,180
MAN 3: There we found contract
information between him and the

883
00:50:40,200 --> 00:50:42,110
developer, Newland.

884
00:50:42,130 --> 00:50:44,150
One of the things I think that
was very helpful in the Panama

885
00:50:44,170 --> 00:50:47,150
Papers is it actually
showed Trump's business model.

886
00:50:47,170 --> 00:50:49,110
It was a contract that
showed how he got paid,

887
00:50:49,130 --> 00:50:50,230
how his name was leased.

888
00:50:51,010 --> 00:50:53,110
This really wasn't
known, and the documents,

889
00:50:53,130 --> 00:50:55,150
here we had
physical proof of how,

890
00:50:55,170 --> 00:50:57,150
you know, how he
arranges things.

891
00:50:57,170 --> 00:50:59,180
REPORTER 18: As a
former money launderer,

892
00:50:59,200 --> 00:51:03,190
the Trump Ocean Club, how would
you rate it in its quality.

893
00:51:03,210 --> 00:51:04,190
MAN 4: For money laundering?

894
00:51:04,210 --> 00:51:08,180
MAN 4: Oh, I'd say triple A.

895
00:51:18,050 --> 00:51:20,140
JACK: You get
control of the country,

896
00:51:20,160 --> 00:51:24,160
you move your family into all
of the important jobs in the

897
00:51:24,180 --> 00:51:28,160
country, and then you use
that as an opportunity to

898
00:51:28,180 --> 00:51:30,080
enrich yourself.

899
00:51:30,100 --> 00:51:31,200
NEWS REPORTER 18: The man
they credit with Donald Trump's

900
00:51:31,220 --> 00:51:33,160
victory, the President
Elect's own son-in-law,

901
00:51:33,180 --> 00:51:34,200
Jared Kushner.

902
00:51:34,220 --> 00:51:38,060
JACK: What's now
going on is exactly that,

903
00:51:38,080 --> 00:51:41,230
and what I think is also going
on is that our president has

904
00:51:42,010 --> 00:51:46,150
cozied up to any number of these
kleptocrats because he wants

905
00:51:46,170 --> 00:51:49,230
Americans to think
it's the new normal.

906
00:51:52,220 --> 00:51:54,150
NEWS REPORTER 19: The central
figure in the investigations

907
00:51:54,170 --> 00:51:56,230
into Donald
Trump's inner circle,

908
00:51:57,010 --> 00:51:57,160
and possible ties to Russia.

909
00:51:57,180 --> 00:51:59,160
ADAM SCHIFF: It was Manafort...

910
00:51:59,180 --> 00:52:00,050
HIMES: Paul Manafort...

911
00:52:00,070 --> 00:52:02,000
CARSON: Paul Manafort...

912
00:52:02,020 --> 00:52:03,150
NEWS REPORTER 19: Long before he
was president Trump's campaign

913
00:52:03,170 --> 00:52:06,160
chairman, Paul Manafort was
paid millions by a Russian

914
00:52:06,180 --> 00:52:09,170
billionaire with close
ties to Vladimir Putin.

915
00:52:09,190 --> 00:52:13,130
MAN 3: That is the closest we've
been able to get to Manafort.

916
00:52:13,150 --> 00:52:17,130
Manafort seems to have been paid
through companies in Belize.

917
00:52:17,150 --> 00:52:21,220
I've spent a lot of time looking
at these shell companies.

918
00:52:22,110 --> 00:52:25,170
MAN 6: Donald Trump's
friends, people of his cabinet,

919
00:52:25,190 --> 00:52:30,120
advisors, have been active
in the offshore business.

920
00:52:31,070 --> 00:52:33,130
RON: Mister Mnuchin, you ran
a hedge fund for a few years

921
00:52:33,150 --> 00:52:39,200
starting in 2004, and I've been
trying to get my arms around the

922
00:52:39,220 --> 00:52:42,230
Mnuchin web of bank
accounts and shell companies.

923
00:52:43,010 --> 00:52:45,070
They were in Cayman
Islands and Anguilla.

924
00:52:45,090 --> 00:52:48,020
How many employees did
you have in Anguilla?

925
00:52:48,160 --> 00:52:49,130
STEVEN: Treasury
Secretary Nominee

926
00:52:49,150 --> 00:52:53,180
we didn't have any
employees in Anguilla.

927
00:52:53,200 --> 00:52:54,190
RON: How many
customers did you have there?

928
00:52:54,210 --> 00:52:55,220
STEVEN: We didn't have
any customers that resided

929
00:52:56,000 --> 00:52:56,160
in Anguilla.

930
00:52:56,180 --> 00:52:59,020
RON: Did you have
an office there?

931
00:52:59,040 --> 00:53:02,020
STEVEN: We did not have
a office ourselves there.

932
00:53:02,040 --> 00:53:04,180
RON: So you just had
a post office box?

933
00:53:04,200 --> 00:53:07,020
STEVEN: Senator, let
me explain to you, okay?

934
00:53:07,040 --> 00:53:08,050
RON: It's just a
yes or no answer.

935
00:53:08,070 --> 00:53:09,110
I'm already over my time.

936
00:53:09,130 --> 00:53:10,040
Yes or no?

937
00:53:10,060 --> 00:53:11,100
Did you just have a post office?
other senators will defer some

938
00:53:13,160 --> 00:53:15,180
time so I can, I can
answer this for you,

939
00:53:15,200 --> 00:53:17,190
because I think it's
an important issue,

940
00:53:17,210 --> 00:53:18,120
but no, we had--

941
00:53:18,140 --> 00:53:20,140
RON: Mister Chairman, this is...

942
00:53:20,160 --> 00:53:23,140
SENATOR 1: I think he should go
ahead and answer it right now.

943
00:53:23,160 --> 00:53:24,070
SENATOR 2: He should get a
chance to answer the question.

944
00:53:24,090 --> 00:53:25,120
SENATOR 1: Yeah.

945
00:53:25,140 --> 00:53:26,180
RON: I'm very troubled about
this question of how you're

946
00:53:26,200 --> 00:53:32,070
gonna unrig the system if you've
got a record of taking advantage

947
00:53:32,090 --> 00:53:35,110
of tax shelters that, in effect,
have zero percent tax rate.

948
00:53:35,130 --> 00:53:37,020
Thank you, Mister Chairman.

949
00:53:37,040 --> 00:53:41,150
The taxes you pay
are compulsory.

950
00:53:42,050 --> 00:53:44,030
They come out of your paycheck,
you can see it once or twice

951
00:53:44,050 --> 00:53:46,150
a month.

952
00:53:46,170 --> 00:53:50,060
There're no Cayman
Island deals for you,

953
00:53:50,080 --> 00:53:53,220
not, none of those kinda
sweetheart overseas deals for

954
00:53:54,000 --> 00:53:58,100
you the way Steve Mnuchin,
the Treasury Secretary, got.

955
00:53:58,120 --> 00:54:02,130
Then there's another set of tax
rules for the fortunate and the

956
00:54:02,150 --> 00:54:05,020
well-connected.

957
00:54:05,040 --> 00:54:07,150
They can pretty much decide
under the tax law what they're

958
00:54:07,170 --> 00:54:09,120
going to pay, when
they're going to pay it,

959
00:54:12,010 --> 00:54:15,140
and in some
instances, almost nothing.

960
00:54:19,070 --> 00:54:22,040
MAN 6: The problem today
is really that the U.S.

961
00:54:22,060 --> 00:54:25,120
is the best place
to put your assets.

962
00:54:28,020 --> 00:54:29,060
MAN 6: Over the
last couple of decades,

963
00:54:29,080 --> 00:54:31,200
we've seen increasingly that
shell companies registered in

964
00:54:31,220 --> 00:54:35,160
the U.S. are used to
commit all sorts of crimes

965
00:54:35,180 --> 00:54:36,230
from human trafficking
to drug trafficking

966
00:54:37,010 --> 00:54:37,120
to arms dealing.

967
00:54:37,140 --> 00:54:39,160
The list goes on and on.

968
00:54:42,210 --> 00:54:45,100
BASTIAN: Looking to
Delaware, looking to Nevada,

969
00:54:45,120 --> 00:54:47,110
that's a, for example, a
jurisdiction Mossack Fonseca was

970
00:54:47,130 --> 00:54:49,000
very active.

971
00:54:49,020 --> 00:54:51,010
KEVIN: We found a lot of
Brazilians hiding property owned

972
00:54:51,030 --> 00:54:53,040
in Brazil through
Nevada offshore,

973
00:54:53,060 --> 00:54:57,170
so Nevada was being used by
Brazilians in a way that Cayman

974
00:54:57,190 --> 00:54:58,210
Islands, Bahamas might be used
by an American trying to hide

975
00:54:58,230 --> 00:55:00,200
ownership of an asset.

976
00:55:05,070 --> 00:55:07,220
DINA: Well, Nevada has always
had this approach to raising

977
00:55:08,000 --> 00:55:10,010
revenue that we wanna
attack somebody else,

978
00:55:10,030 --> 00:55:11,080
not the people who live here.

979
00:55:11,100 --> 00:55:15,230
Though, back in the '90s, they
decided to become the Delaware

980
00:55:16,010 --> 00:55:19,080
of the west and tried to follow
that example and make it very

981
00:55:19,100 --> 00:55:24,020
easy for shell companies,
LLCs, to be set up there without

982
00:55:24,040 --> 00:55:27,180
having any kind of information
available about who owned them

983
00:55:27,200 --> 00:55:30,010
or who benefited from them.

984
00:55:30,030 --> 00:55:32,050
I said, at the
time, that it was,

985
00:55:32,070 --> 00:55:34,170
might as well hang
up a shingle and say,

986
00:55:34,190 --> 00:55:37,060
"Welcome scumbags and sleaze
balls" because those are the

987
00:55:37,080 --> 00:55:40,150
kind of people who want to
keep their information secret,

988
00:55:40,170 --> 00:55:42,170
but it became a
source of revenue,

989
00:55:42,190 --> 00:55:44,050
so you didn't
have to raise taxes.

990
00:55:48,090 --> 00:55:51,190
DINA: Well, I'm afraid they're
rolling back the protections

991
00:55:51,210 --> 00:55:53,020
that were put in at Dodd-Frank
and a lot of that was about

992
00:55:53,040 --> 00:55:55,210
accountability and transparency.

993
00:55:55,230 --> 00:55:58,190
Banks fought that, so they're
certainly not gonna want to open

994
00:55:58,210 --> 00:56:00,180
it up any further.

995
00:56:02,080 --> 00:56:06,220
MAN 5: You can find tax
havens all around the world.

996
00:56:07,000 --> 00:56:09,100
They are in the
U.S., they are in the UK.

997
00:56:09,120 --> 00:56:11,220
GERARD: Now having done
six of these projects,

998
00:56:12,000 --> 00:56:14,020
I would say with some
certainty that the,

999
00:56:14,040 --> 00:56:16,220
probably the biggest tax haven
in the world is-is Britain,

1000
00:56:17,000 --> 00:56:20,140
and its, you know,
its former colonies.

1001
00:56:21,050 --> 00:56:21,150
JULIETTE: We're
open for business.

1002
00:56:21,170 --> 00:56:22,210
We like oligarchs.

1003
00:56:22,230 --> 00:56:26,030
I don't want to exaggerate
and say we're just a tax haven,

1004
00:56:26,050 --> 00:56:30,200
but you know, the-the state
is-is captured by finance.

1005
00:56:32,010 --> 00:56:33,050
GERARD: Close
behind it is America,

1006
00:56:33,070 --> 00:56:35,200
and I think in the future, it
would be great if someone gave

1007
00:56:35,220 --> 00:56:37,230
us, you know, Delaware leaks.

1008
00:56:38,010 --> 00:56:41,100
We would uncover, you know,
secrets that may be bigger than

1009
00:56:41,120 --> 00:56:43,070
anything we've ever done before.

1010
00:56:44,150 --> 00:56:46,200
JOHN: I call on the
European Commission,

1011
00:56:46,220 --> 00:56:50,030
the British Parliament,
the United States Congress,

1012
00:56:50,050 --> 00:56:53,030
and all nations to
take swift action,

1013
00:56:53,050 --> 00:56:55,040
not only to
protect whistleblowers,

1014
00:56:55,060 --> 00:56:58,060
but to put an end to the global
abuse of corporate registers.

1015
00:56:59,210 --> 00:57:03,000
Tax evasion cannot possibly be
fixed while elected officials

1016
00:57:03,020 --> 00:57:06,090
are pleading for money from
the very elites who have the

1017
00:57:06,110 --> 00:57:09,040
strongest incentives to avoid
taxes relative to any other

1018
00:57:09,060 --> 00:57:10,210
segment of the population.

1019
00:57:30,110 --> 00:57:34,000
FREDERIK: I was actually
concerned every day about the

1020
00:57:34,020 --> 00:57:38,190
security of this whole project
because let's face the facts.

1021
00:57:38,210 --> 00:57:42,080
Journalists like to
speak about their work.

1022
00:57:42,100 --> 00:57:44,100
GERARD: You know, every
journalist you bring in,

1023
00:57:44,120 --> 00:57:46,230
they're probably going to
tell their life partner,

1024
00:57:47,010 --> 00:57:48,230
they're probably going to
tell their best friends,

1025
00:57:49,010 --> 00:57:51,000
so the risks were going up
exponentially every time you

1026
00:57:51,020 --> 00:57:52,170
brought somebody in.

1027
00:57:52,190 --> 00:57:56,020
MATTHEW: We were so focused on
the digital part that I think

1028
00:57:56,040 --> 00:57:59,010
you forget that a lot of
journalists are going to need to

1029
00:57:59,030 --> 00:58:02,010
have interviews
with sources,

1030
00:58:02,030 --> 00:58:05,100
they're going to have these
interviews in bars or in cafes

1031
00:58:05,120 --> 00:58:09,130
or in public places, and they're
not going to be conscious of the

1032
00:58:09,150 --> 00:58:12,010
fact that other people might be
following them or listening to

1033
00:58:12,030 --> 00:58:13,130
their conversation.

1034
00:58:14,230 --> 00:58:16,050
LUKE: It's funny, really,
because to, generally,

1035
00:58:16,070 --> 00:58:18,210
toextract secrets
from a journalist,

1036
00:58:18,230 --> 00:58:21,090
you just need to
take the journalist to the bar,

1037
00:58:21,110 --> 00:58:23,220
buy the journalist a
beer or maybe two beers,

1038
00:58:24,010 --> 00:58:26,130
if they're, if
they're being kind of tricky,

1039
00:58:26,150 --> 00:58:28,140
and they will
tell you everything.

1040
00:58:28,160 --> 00:58:30,100
MAN 7: My colleagues say, I
haven't seen any stories.

1041
00:58:30,120 --> 00:58:31,100
What are you doing?

1042
00:58:31,120 --> 00:58:32,170
I say, it's a project.

1043
00:58:32,190 --> 00:58:35,030
It's a regional project,
actually worldwide,

1044
00:58:35,050 --> 00:58:37,050
and we're just
looking at something.

1045
00:58:37,070 --> 00:58:39,030
And they say, well,
when's it coming out?

1046
00:58:39,050 --> 00:58:40,180
Well, I couldn't really answer.

1047
00:58:43,000 --> 00:58:46,020
JÓHANNES: You had this in
mind the whole time that one

1048
00:58:46,040 --> 00:58:48,150
mistake could
jeopardize the whole project.

1049
00:58:50,150 --> 00:58:52,010
RITA: My life,
during all those months,

1050
00:58:52,030 --> 00:58:54,020
was kinda like a spy life.

1051
00:58:54,040 --> 00:58:56,060
I couldn't tell
them what I was doing,

1052
00:58:56,080 --> 00:58:58,180
and I felt awful
because, at the same time,

1053
00:58:58,200 --> 00:59:01,020
I was investigating my friends.

1054
00:59:01,040 --> 00:59:04,130
I would go to dinner
parties, and during the day,

1055
00:59:04,150 --> 00:59:08,070
I was just searching documents
that somehow mentioned them.

1056
00:59:09,090 --> 00:59:11,120
EL NORTE: We felt responsible
for their safety and that that

1057
00:59:11,140 --> 00:59:15,230
was also something we
repeatedly told our colleagues.

1058
00:59:16,010 --> 00:59:18,220
Be aware that there is
colleagues of us out there

1059
00:59:19,000 --> 00:59:20,230
risking their life
with this reporting,

1060
00:59:21,010 --> 00:59:24,000
and if you tell too much,
you could risk their life.

1061
01:00:01,220 --> 01:00:03,120
BASTIAN: In the last weeks
before our publication date,

1062
01:00:03,140 --> 01:00:07,010
we had to do everything
to protect our source,

1063
01:00:07,030 --> 01:00:10,050
so we stopped all
communications.

1064
01:00:10,070 --> 01:00:13,230
We destroyed effectively
the-the devices that we used to

1065
01:00:14,010 --> 01:00:15,080
communicate with the source.

1066
01:00:15,100 --> 01:00:17,040
My iPhone and my computer.

1067
01:00:17,060 --> 01:00:21,110
We deleted all
the files with several programs,

1068
01:00:21,130 --> 01:00:25,000
so run it over
and over and over until it was

1069
01:00:25,020 --> 01:00:26,110
completely flat.

1070
01:00:26,130 --> 01:00:29,060
But then, again, we
weren't really sure,

1071
01:00:29,080 --> 01:00:31,080
you know, if you
really can trust this,

1072
01:00:31,100 --> 01:00:34,160
so, I more or less
took a hammer and started

1073
01:00:34,180 --> 01:00:37,170
smashing the things.

1074
01:00:37,190 --> 01:00:41,080
We didn't want to throw it away
because we were so paranoid back

1075
01:00:41,100 --> 01:00:44,220
then that we thoguh if
someone finds it,

1076
01:00:45,000 --> 01:00:48,000
maybe he can do
something with it.

1077
01:00:48,180 --> 01:00:51,100
MARINA: The most dangerous
moment in the investigation,

1078
01:00:51,120 --> 01:00:55,050
and the most tense moment, when
we start reaching out to people

1079
01:00:55,070 --> 01:00:57,090
for comment.

1080
01:00:58,230 --> 01:01:04,010
If we have had a year to look at
your bank information and your

1081
01:01:04,030 --> 01:01:07,120
company information, we
are not going to surprise you.

1082
01:01:07,140 --> 01:01:09,160
BASTIAN: You don't
approach people and say,

1083
01:01:09,180 --> 01:01:12,220
listen, the team
of Mossack Fonseca,

1084
01:01:13,000 --> 01:01:15,110
you lost all your data.

1085
01:01:17,150 --> 01:01:19,020
JULIETTE: The camera
crews for the broadcasters

1086
01:01:19,040 --> 01:01:21,100
involved in the project
descended on the offices of

1087
01:01:21,120 --> 01:01:25,060
Mossack Fonseca in Panama City
and demanded to talk to someone,

1088
01:01:25,080 --> 01:01:26,050
get a statement.

1089
01:01:36,190 --> 01:01:38,150
BASTIAN: We sent them an email.

1090
01:01:38,170 --> 01:01:42,070
We saw documents that seemed
to indicate that you have many

1091
01:01:42,090 --> 01:01:45,100
troubles with your due diligence
and the way you choose

1092
01:01:45,120 --> 01:01:47,080
your customers.

1093
01:01:50,150 --> 01:01:53,190
BASTIAN: Then it follows,
um, a long list of questions.

1094
01:01:53,210 --> 01:01:56,060
Very detailed,
very much to the cases.

1095
01:01:56,080 --> 01:01:59,120
So they said, we're not
involved in illegal dealings.

1096
01:01:59,140 --> 01:02:03,160
We have never contact with
the customers directly.

1097
01:02:03,180 --> 01:02:08,030
We only work with
intermediaries, which are lies.

1098
01:02:08,050 --> 01:02:11,150
Well, I've heard, well now,
everything might blow up.

1099
01:02:11,170 --> 01:02:14,140
Now it will be hundreds of
lawyers trying to stop our

1100
01:02:14,160 --> 01:02:18,000
reporting, hundreds of
people all around the world get

1101
01:02:18,020 --> 01:02:19,230
knowledge about
our investigation,

1102
01:02:20,010 --> 01:02:22,020
and that's people
like drug lords,

1103
01:02:22,040 --> 01:02:24,220
criminals, and of course we
feared that something

1104
01:02:25,000 --> 01:02:25,230
might happen.

1105
01:02:32,090 --> 01:02:34,090
RITA: It was
very stressful for-for all of us

1106
01:02:34,110 --> 01:02:38,090
because at that point, yeah,
we had to call our sources,

1107
01:02:38,110 --> 01:02:40,190
we had to call the people
that we were writing about,

1108
01:02:40,210 --> 01:02:46,160
and people started to
know more and more and more.

1109
01:02:46,180 --> 01:02:51,070
We started to have a
bodyguard because that's when we

1110
01:02:51,090 --> 01:02:54,160
received a non-direct
threat by Mossack Fonseca.

1111
01:02:54,180 --> 01:02:56,200
So they came and said, you know,
we know you have a journalist

1112
01:02:56,220 --> 01:02:59,080
who's helping the
international media,

1113
01:02:59,100 --> 01:03:02,190
and she, and she's been
she's been paid for,

1114
01:03:02,210 --> 01:03:06,120
and she is trying to
diminish the reputation of

1115
01:03:06,140 --> 01:03:09,040
our firm and the country,
and she was gonna have to,

1116
01:03:09,060 --> 01:03:12,100
you know,
suffer the consequences.

1117
01:03:12,120 --> 01:03:13,190
So the paper
immediately said, you know,

1118
01:03:13,210 --> 01:03:16,170
you can't be around
without any protection.

1119
01:03:16,190 --> 01:03:18,120
My friends were here.

1120
01:03:18,140 --> 01:03:21,040
We go pick them up at
the hotel, and there's,

1121
01:03:21,060 --> 01:03:23,050
there is a bodyguard
there driving the car.

1122
01:03:23,070 --> 01:03:25,160
So we said, oh,
it's just an Uber.

1123
01:03:25,180 --> 01:03:28,080
But we forgot to hide the gun he
had in the middle of the

1124
01:03:28,100 --> 01:03:29,210
front seat.

1125
01:03:29,230 --> 01:03:34,130
We had to live a double
life and-and that really was

1126
01:03:34,150 --> 01:03:38,160
something that changed
our lives from that moment.

1127
01:03:42,060 --> 01:03:44,220
FREDERIK: The
most frightening moment for me

1128
01:03:45,000 --> 01:03:50,090
shortly before publication was
when I personally had to write

1129
01:03:50,110 --> 01:03:55,050
an email to the Kremlin
basically addressing it to "Dear

1130
01:03:55,070 --> 01:03:59,220
Mr. Vladimir Putin" and laying
out what we found in regards to

1131
01:04:00,000 --> 01:04:05,220
this net of companies around his
friend Sergei Roldugin that was

1132
01:04:06,000 --> 01:04:09,180
funneling hundreds of millions
of dollar out of Russia,

1133
01:04:09,200 --> 01:04:14,140
and I've never written an
email to Vladimir Putin before.

1134
01:04:14,160 --> 01:04:17,220
Some days later,
Vladimir Putin's spokesperson,

1135
01:04:18,000 --> 01:04:22,090
Mr. Peskov, did a
press conference in Moscow.

1136
01:04:22,110 --> 01:04:24,190
DMITRY PESKOV: The
documents show nothing

1137
01:04:24,210 --> 01:04:26,100
about Mister Putin.

1138
01:04:26,120 --> 01:04:31,180
Everything that was,
interconnected with our

1139
01:04:31,200 --> 01:04:34,050
president, was
written by newspapers.

1140
01:04:34,070 --> 01:04:36,150
It was written by
journalists without having

1141
01:04:36,170 --> 01:04:39,070
obvious facts for that.

1142
01:04:39,090 --> 01:04:41,150
FREDERIK: It was
clear to me, oh, shit.

1143
01:04:41,170 --> 01:04:45,080
He's speaking about that
email I sent some days ago.

1144
01:04:45,100 --> 01:04:47,100
DMITRY: And now we're
understanding this is nothing

1145
01:04:47,120 --> 01:04:50,160
else by, but a
reflection of,

1146
01:04:50,180 --> 01:04:53,170
let's say, an
overwhelmed

1147
01:04:53,190 --> 01:04:57,140
Putin-aphobia disease that
unfortunately has quite spread

1148
01:04:57,160 --> 01:05:02,150
now in lots of media.

1149
01:05:02,170 --> 01:05:06,130
FREDERIK: It was clearly obvious
that the Kremlin was pissed off.

1150
01:05:08,090 --> 01:05:12,120
MARINA: We got a lot of legal
threats and there were so many.

1151
01:05:12,140 --> 01:05:14,230
They were really piling up.

1152
01:05:15,010 --> 01:05:18,230
Everyone that we contacted
recruited the best lawyers to

1153
01:05:19,010 --> 01:05:24,000
threaten ICIJ, to try to, um,
get us to show them documents,

1154
01:05:24,020 --> 01:05:28,070
to try to get us to
not publish the story.

1155
01:05:28,180 --> 01:05:31,200
SCOTT: Drug trafficking,
income inequality, poverty.

1156
01:05:31,220 --> 01:05:34,090
You look at those
problems in the world,

1157
01:05:34,110 --> 01:05:38,200
and a lot of the keys to
addressing those problems are in

1158
01:05:38,220 --> 01:05:40,150
the Panama Papers.

1159
01:05:40,170 --> 01:05:46,120
Even though you feel like you,
you may wake up one day and-and

1160
01:05:46,140 --> 01:05:49,160
have somebody in your
bedroom pointing a gun at you,

1161
01:05:49,180 --> 01:05:52,190
you feel like youhave to
keep going on this because it's

1162
01:05:52,210 --> 01:05:55,190
too important.

1163
01:05:58,180 --> 01:05:59,200
JÓHANNES: So
coming from Iceland,

1164
01:05:59,220 --> 01:06:03,200
I knew that if I would
start asking questions about the

1165
01:06:03,220 --> 01:06:05,200
offshore company of
the Prime Minister,

1166
01:06:05,220 --> 01:06:11,080
early, then all the alarm
bells would ring inside the

1167
01:06:11,100 --> 01:06:15,050
government and inside the
institutions here in Iceland.

1168
01:06:15,070 --> 01:06:19,100
So we had to find
a way to get

1169
01:06:19,120 --> 01:06:23,200
the reactions from the
Prime Minister on camera.

1170
01:06:23,220 --> 01:06:28,090
So we decided after a
lengthy talk about the ethical

1171
01:06:28,110 --> 01:06:31,210
issues, to confront him.

1172
01:06:32,190 --> 01:06:33,190
JOURNALIST:
Mister Prime Minister,

1173
01:06:33,210 --> 01:06:38,100
what can you tell me about
a company called Wintris?

1174
01:06:38,120 --> 01:06:44,130
PRIME MINISTER GUNNLAUGSSON:
Well, it's a company of,

1175
01:06:44,150 --> 01:06:48,100
if I recall correctly, which
is associated with one of the

1176
01:06:48,120 --> 01:06:50,120
companies that I,
was on a board of,

1177
01:06:50,140 --> 01:06:57,180
and, it was a,
hadan account which as I,

1178
01:06:57,200 --> 01:07:02,220
as I mentioned, has
been with the tax,

1179
01:07:03,000 --> 01:07:06,110
on the tax account
since it was established.

1180
01:07:06,130 --> 01:07:09,110
So now I'm starting to feel a
bit strange about this question

1181
01:07:09,130 --> 01:07:12,100
because it's like you are
accusing me of something when

1182
01:07:12,120 --> 01:07:16,190
you are asking me about a
company that has been on my--

1183
01:07:16,210 --> 01:07:17,190
JOURNALIST: Let, let--

1184
01:07:17,210 --> 01:07:19,070
PRIME MINISTER GUNNLAUGSSON:
tax return from

1185
01:07:19,090 --> 01:07:20,070
the beginning.

1186
01:07:20,090 --> 01:07:21,100
JOURNALIST: Yeah,
it must be okay for me as a

1187
01:07:21,120 --> 01:07:23,130
journalist to ask the Prime
Minister about personal--

1188
01:07:23,150 --> 01:07:24,180
PRIME MINISTER GUNNLAUGSSON:
Yes, sure.

1189
01:07:24,200 --> 01:07:28,030
But you are indicating that
I have not paid, taxes on it.

1190
01:07:28,050 --> 01:07:29,070
JOURNALIST: No, I'm
just asking you questions.

1191
01:07:29,090 --> 01:07:29,140
PRIME MINISTER GUNNLAUGSSON:
Okay,

1192
01:07:29,160 --> 01:07:30,150
okay.

1193
01:07:30,170 --> 01:07:31,230
JOURNALIST: So, so, uh,
to go into the details,

1194
01:07:32,010 --> 01:07:34,230
I would like my partner to do
it in Icelandic because I don't

1195
01:07:35,010 --> 01:07:37,210
have the details,
uh, to discuss it.

1196
01:08:24,210 --> 01:08:26,080
KRISTJÁNSSON: The time
between the interview and the

1197
01:08:26,100 --> 01:08:29,120
publication was
a stressful time.

1198
01:08:29,140 --> 01:08:31,130
The wife of
the Prime Minister,

1199
01:08:31,150 --> 01:08:36,000
she posted a Facebook
status talking about some

1200
01:08:36,020 --> 01:08:38,200
attacks from the media.

1201
01:08:38,220 --> 01:08:42,030
Soon, I realized that, uh, we
shouldn't be afraid because we

1202
01:08:42,050 --> 01:08:46,010
had all the materials,
we had the interview,

1203
01:08:46,030 --> 01:08:49,010
uh, and uh, I
talk, I told my staff,

1204
01:08:49,030 --> 01:08:52,010
you know, just relax because we
are going to publish this and,

1205
01:08:52,030 --> 01:08:54,160
uh, it will be big.

1206
01:09:02,230 --> 01:09:04,170
PAUL: We were utterly convinced
that night that we were gonna

1207
01:09:04,190 --> 01:09:08,120
light the Blue Torch Paper
despite nobody going beforehand,

1208
01:09:08,140 --> 01:09:10,120
there was still an
air of expectancy.

1209
01:09:10,140 --> 01:09:12,140
People knew a big
story was coming.

1210
01:09:12,160 --> 01:09:14,170
LUKE: What was weird was about
ten minutes before we were due

1211
01:09:14,190 --> 01:09:18,020
to press send, Edward Snowden
tweeted out a link to the

1212
01:09:18,040 --> 01:09:21,010
English language website of
Süddeutsche Zeitung MAN 4: The

1213
01:09:21,030 --> 01:09:24,090
people who follow him
then were alerted to this,

1214
01:09:24,110 --> 01:09:26,120
and that's a
pretty wide universe.

1215
01:09:26,140 --> 01:09:28,120
JULIETTE: Gerard Ryle,
the Director of the ICIJ,

1216
01:09:28,140 --> 01:09:30,200
is hammering the phones getting
everyone to just hold

1217
01:09:30,220 --> 01:09:32,140
their nerve.

1218
01:09:32,160 --> 01:09:33,230
GERARD: I thought it was very
important that we all hold the

1219
01:09:34,010 --> 01:09:36,020
line, that what was
happening with the press

1220
01:09:36,040 --> 01:09:38,180
conference from the Kremlin and
what was happening in Iceland at

1221
01:09:38,200 --> 01:09:41,020
the time where parts of the
story were getting out through

1222
01:09:41,040 --> 01:09:43,150
Facebook, through the
Icelandic Prime Minister's wife,

1223
01:09:43,170 --> 01:09:45,170
like there was a
lot of nervousness,

1224
01:09:45,190 --> 01:09:47,170
and I really thought
that all of these events,

1225
01:09:47,190 --> 01:09:49,190
all of these small
things happening,

1226
01:09:49,210 --> 01:09:51,180
even though, you know, we
were being talked about a week

1227
01:09:51,200 --> 01:09:53,190
beforehand, no one
really knew the bigger story.

1228
01:09:53,210 --> 01:09:55,190
JULIETTE: You know, I'm, uh,
describing it a bit like a,

1229
01:09:55,210 --> 01:09:58,220
a general standing at the top
of the hill holding back the

1230
01:09:59,000 --> 01:10:01,140
troops, you know, waiting as
the opposing army approaches,

1231
01:10:01,160 --> 01:10:04,180
approaches, you
know, hold, hold, hold, go!

1232
01:10:04,200 --> 01:10:05,180
Charge!

1233
01:10:05,200 --> 01:10:07,190
TIM:
When that day hits,

1234
01:10:07,210 --> 01:10:10,150
things happen
fairly quickly.

1235
01:10:12,190 --> 01:10:15,060
NEWS REPORTER 20: The so-called
Panama Papers now exposing the

1236
01:10:15,080 --> 01:10:19,150
secret financial dealings of
politicians and celebrities.

1237
01:10:19,170 --> 01:10:21,180
NEWS REPORTER 21: Many of
the world's most powerful

1238
01:10:21,200 --> 01:10:24,030
politicians, wealthy business
owners and popular celebrities

1239
01:10:24,050 --> 01:10:26,160
are now desperately trying to
distance themselves from the

1240
01:10:26,180 --> 01:10:30,200
fallout and consequences
of the Panama Papers.

1241
01:10:30,220 --> 01:10:33,160
MARISA: There was an immediate
response on social media.

1242
01:10:33,180 --> 01:10:35,160
MAN 8: They're
all on the inside,

1243
01:10:35,180 --> 01:10:37,140
we are out on the
street looking in.

1244
01:10:37,160 --> 01:10:39,110
Hello?

1245
01:10:39,130 --> 01:10:41,030
MARINA: This thing exploded and
took an entire life of its own.

1246
01:10:41,050 --> 01:10:43,040
NEWS REPORTER 22: We turn now
to the banking bombshell causing

1247
01:10:43,060 --> 01:10:44,190
shockwaves around the world.

1248
01:10:44,210 --> 01:10:45,150
NEWS REPORTER 23:
Panama Papers...

1249
01:10:45,170 --> 01:10:46,210
NEWS REPORTER 24:

1250
01:10:46,230 --> 01:10:48,020
NEWS REPORTER 25: The Panama Papers...

1251
01:10:48,040 --> 01:10:49,060
NEWS REPORTER 26: The Panama Papers.

1252
01:10:49,080 --> 01:10:51,200
GEORGE: What may be the largest
leak of secret documents

1253
01:10:51,220 --> 01:10:53,110
in history.

1254
01:10:53,130 --> 01:10:55,050
NEWS REPORTER 27: A blockbuster
release of millions of

1255
01:10:55,070 --> 01:10:56,090
financial documents.

1256
01:10:56,110 --> 01:10:58,200
NEWS REPORTER 28: This is
the biggest attack on the tax

1257
01:10:58,220 --> 01:11:00,000
shelter industry.

1258
01:11:00,020 --> 01:11:01,030
It's a trillion dollar industry.

1259
01:11:01,050 --> 01:11:01,200
NEWS REPORTER 29: It is.

1260
01:11:01,220 --> 01:11:02,190
It is a trillion
dollar industry.

1261
01:11:02,210 --> 01:11:05,040
JAKE: The UK,
France, Australia, Mexico,

1262
01:11:05,060 --> 01:11:07,120
all say they're
going to investigate.

1263
01:11:08,090 --> 01:11:13,050
ROBERTO: When it blew up, I
had no idea the size of

1264
01:11:13,070 --> 01:11:15,000
the situation.

1265
01:11:15,020 --> 01:11:16,060
NEWS REPORTER 30: Panama Police
have raided the offices of the

1266
01:11:16,080 --> 01:11:20,030
law firm at the center of the
country's massive data leak.

1267
01:11:29,030 --> 01:11:33,150
JACK: Now the problem is can the
various judicial systems of the

1268
01:11:33,170 --> 01:11:37,140
world handle all of this
material without getting a

1269
01:11:37,160 --> 01:11:41,020
horrendous case of indigestion?

1270
01:12:08,220 --> 01:12:11,020
JÜRGEN: We have always dealt
with professional clients all

1271
01:12:11,040 --> 01:12:12,050
over the world, only.

1272
01:12:12,070 --> 01:12:15,160
RITA: After the publication,
the example they gave it,

1273
01:12:15,180 --> 01:12:17,130
we were like a knife
factory, you know?

1274
01:12:17,150 --> 01:12:18,220
We sell the knives.

1275
01:12:19,000 --> 01:12:20,230
If people kill, kill
other people with knives,

1276
01:12:21,010 --> 01:12:22,180
it is not our fault.

1277
01:12:22,200 --> 01:12:26,140
The problem is they always knew
who had the knives and what were

1278
01:12:26,160 --> 01:12:28,220
they gonna do with the knives.

1279
01:12:29,160 --> 01:12:31,100
NEWS REPORTER 32: The law
firm is denying any wrongdoing.

1280
01:12:31,120 --> 01:12:35,170
RITA: When we'd realized how big
it was was when we saw people

1281
01:12:35,190 --> 01:12:38,050
going out in the streets.

1282
01:12:42,030 --> 01:12:43,080
NEWS REPORTER 33: Thousands of
Icelanders took the streets,

1283
01:12:43,100 --> 01:12:46,100
calling on the Prime Minister to
resign following allegations he

1284
01:12:46,120 --> 01:12:48,110
benefited from offshore
holdings and tax havens.

1285
01:12:52,120 --> 01:12:56,020
NEWS REPORTER 34: The first
casualty of the Panama Papers

1286
01:12:56,040 --> 01:12:57,060
has fallen.

1287
01:12:57,080 --> 01:13:00,150
Prime Minister of Iceland
yielded his post on Tuesday amid

1288
01:13:00,170 --> 01:13:02,230
public uproar that he failed to
disclose links to an

1289
01:13:03,010 --> 01:13:04,190
offshore company.

1290
01:13:10,090 --> 01:13:13,030
NEWS REPORTER 35: Prime Minister
Nawaz Sharif, he may be thrown

1291
01:13:13,050 --> 01:13:15,000
out of office over allegations
that his family owned several

1292
01:13:15,020 --> 01:13:16,220
illegal offshore businesses.

1293
01:13:17,000 --> 01:13:19,200
CROWD:

1294
01:13:19,220 --> 01:13:23,070
NEWS REPORTER 36: Corruption and
bribery at the highest level

1295
01:13:23,090 --> 01:13:25,150
on the streets of Rio Sao Paulo
and dozens of other cities.

1296
01:13:25,170 --> 01:13:28,230
Protestors laid the blame at
the door of President

1297
01:13:29,010 --> 01:13:29,230
Dilma Rousseff.

1298
01:13:30,010 --> 01:13:32,070
MAN 8: Every day
there is a new scandal.

1299
01:13:32,090 --> 01:13:33,230
Every day there is something
related to money being taken out

1300
01:13:34,010 --> 01:13:35,230
of the country.

1301
01:13:36,010 --> 01:13:37,190
NEWS REPORTER 37: We have some
breaking news from Brazil where

1302
01:13:37,210 --> 01:13:41,070
the senate there has voted to
impeach President Dilma Rousseff

1303
01:13:41,090 --> 01:13:43,110
and plunges the country
into political chaos.

1304
01:13:43,130 --> 01:13:45,030
KEVIN: Look at Brazil.

1305
01:13:45,050 --> 01:13:48,170
That's probably the country
where the Panama Papers has had

1306
01:13:48,190 --> 01:13:49,170
the most impact.

1307
01:13:54,020 --> 01:13:56,070
KEVIN: Iceland got the
headlines with the president.

1308
01:13:56,090 --> 01:13:59,120
The entire ruling
structure of Brazil is crumbling

1309
01:13:59,140 --> 01:14:01,080
because so many of them are
tied into this money

1310
01:14:01,100 --> 01:14:03,000
laundering scheme.

1311
01:14:03,020 --> 01:14:04,200
CROWD:

1312
01:14:06,140 --> 01:14:07,160
NEWS REPORTER 38: Protestors
in the Argentine capital Buenos

1313
01:14:07,180 --> 01:14:10,070
Aires are calling for the
country's president to step down

1314
01:14:10,090 --> 01:14:13,040
after the so-called Panama
Papers revealed Mauricio Macri

1315
01:14:13,060 --> 01:14:17,080
is on the board of two offshore
firms: One in the Bahamas,

1316
01:14:17,100 --> 01:14:19,000
the other in Panama.

1317
01:14:19,020 --> 01:14:22,090
NEWS REPORTER 39: Several
thousand people filled a square

1318
01:14:22,110 --> 01:14:26,020
in Malta's capital on Sunday,
and demanded the resignation of

1319
01:14:26,040 --> 01:14:27,120
Prime Minister Joseph Muscat.

1320
01:14:27,140 --> 01:14:30,030
MATTHEW: My mother
was in Malta alone,

1321
01:14:30,050 --> 01:14:33,170
fighting this with no, no
one backing her at all.

1322
01:14:33,190 --> 01:14:36,090
No institution.

1323
01:14:36,110 --> 01:14:38,210
GERARD: Daphne had been working
on a number of post-Panama

1324
01:14:38,230 --> 01:14:40,210
Paper stories.

1325
01:14:40,230 --> 01:14:43,150
She wasn't involved in the
Panama Papers investigation

1326
01:14:43,170 --> 01:14:46,020
itself, but she had taken our
reporting and gone further.

1327
01:14:50,010 --> 01:14:51,050
JACOB:

1328
01:14:51,070 --> 01:14:52,020
KONRAD: Good evening.

1329
01:14:52,040 --> 01:14:53,170
Um, today, the,
yesterday's piece...

1330
01:15:03,200 --> 01:15:05,100
KONRAD: There are
no bank accounts,

1331
01:15:05,120 --> 01:15:06,230
uh, no, no, no funds.

1332
01:15:14,160 --> 01:15:15,180
KONRAD: And there are
absolutely no funds.

1333
01:15:15,200 --> 01:15:16,080
Thank you.

1334
01:15:18,200 --> 01:15:22,010
MATTHEW: When the story
broke, they didn't resign.

1335
01:15:22,030 --> 01:15:23,140
I mean, I couldn't believe it.

1336
01:15:23,160 --> 01:15:26,050
I could see, I mean, it was like
a disaster unfolding in

1337
01:15:26,070 --> 01:15:27,020
slow motion.

1338
01:16:00,080 --> 01:16:02,160
NEWS REPORTER 40: British Prime
Minister David Cameron faces

1339
01:16:02,180 --> 01:16:06,030
backlash for implications in the
recently leaked Panama Papers.

1340
01:16:06,050 --> 01:16:07,100
JULIETTE: And that's when things
in the UK just went

1341
01:16:07,120 --> 01:16:09,200
really crazy.

1342
01:16:11,130 --> 01:16:13,000
LUKE: There was
turmoil in this country.

1343
01:16:13,020 --> 01:16:14,210
David Cameron had
the worst week.

1344
01:16:17,080 --> 01:16:21,030
DAVID: Thank you,
Mister Speaker.

1345
01:16:21,050 --> 01:16:22,070
Thank you, Mister Speaker.

1346
01:16:22,090 --> 01:16:23,070
With permission, I would like to
make a statement on the

1347
01:16:23,090 --> 01:16:24,190
Panama Papers.

1348
01:16:25,050 --> 01:16:27,000
Dealing with my own
circumstances first,

1349
01:16:27,020 --> 01:16:30,120
yesterday I published all the
information in my tax returns,

1350
01:16:30,140 --> 01:16:33,000
not just for the last year,
but for the last six years.

1351
01:16:33,020 --> 01:16:35,110
I've also given additional
information about money

1352
01:16:35,130 --> 01:16:38,150
inherited and given to me by
my family so people can see the

1353
01:16:38,170 --> 01:16:40,130
sources of income that I have.

1354
01:16:40,150 --> 01:16:43,060
This is an entirely
standard practice,

1355
01:16:43,080 --> 01:16:46,050
and it is not to avoid tax.

1356
01:16:46,070 --> 01:16:49,150
JEREMY CORBYN: May I thank
the Prime Minister for the

1357
01:16:49,170 --> 01:16:51,130
advance site of his statement.

1358
01:16:51,150 --> 01:16:55,110
It is absolutely a masterclass
in the art of distraction.

1359
01:16:58,100 --> 01:17:00,120
JULIETTE: He refused to say
whether he had any money in his

1360
01:17:00,140 --> 01:17:01,120
father's offshore fund.

1361
01:17:01,140 --> 01:17:03,130
PAUL: He'd gone
on record saying,

1362
01:17:03,150 --> 01:17:05,170
we've gotta end
secrecy about tax avoidance.

1363
01:17:05,190 --> 01:17:08,000
He'd gone on record saying we've
gotta shine a light on where

1364
01:17:08,020 --> 01:17:09,070
this money comes from.

1365
01:17:09,090 --> 01:17:12,020
DAVID: Some of these schemes
where people are parking huge

1366
01:17:12,040 --> 01:17:15,090
amounts of money offshore
and taking loans back to just

1367
01:17:15,110 --> 01:17:19,140
minimize their tax rates, it
is not morally acceptable.

1368
01:17:19,160 --> 01:17:21,170
PAUL: So he then
had to come out,

1369
01:17:21,190 --> 01:17:24,060
and this was the fourth or fifth
explanation over a period of

1370
01:17:24,080 --> 01:17:26,050
three days,
saying, well, actually,

1371
01:17:26,070 --> 01:17:27,100
I did benefit from the shares.

1372
01:17:27,120 --> 01:17:30,090
DAVID: Samantha and I
had a joint account.

1373
01:17:30,110 --> 01:17:33,090
We owned, uh, 5,000
units in Blaire Moore,

1374
01:17:33,110 --> 01:17:38,110
uh, Investment Trust, which we
sold in January, uh, 2010.

1375
01:17:38,130 --> 01:17:41,080
Uh, that was worth
something like 30,000 pounds.

1376
01:17:41,100 --> 01:17:43,100
Was there a profit on it?

1377
01:17:43,120 --> 01:17:45,090
I paid, um,
income tax on the dividends,

1378
01:17:45,110 --> 01:17:47,120
but there was
a profit on it,

1379
01:17:47,140 --> 01:17:50,050
but it was less than the
capital gains tax allowance,

1380
01:17:50,070 --> 01:17:52,100
so I didn't pay
capital gains tax,

1381
01:17:52,120 --> 01:17:55,040
but it was subject to all the
UK taxes in all the normal ways.

1382
01:17:56,160 --> 01:17:58,170
WOMAN 3: A few months
later, Britain was gonna hold a

1383
01:17:58,190 --> 01:18:02,180
referendum on whether to
leave the European Union.

1384
01:18:02,200 --> 01:18:06,060
NEWS REPORTER 41: People of
Britain have spoken,

1385
01:18:06,080 --> 01:18:08,100
voting for a British
exit, dubbed Brexit,

1386
01:18:08,120 --> 01:18:11,100
with almost 52% of the
votes choosing to leave the 28

1387
01:18:11,120 --> 01:18:14,100
member European Union.

1388
01:18:14,120 --> 01:18:17,060
NEWS REPORTER 41: And Cameron
was the figurehead for Romaine,

1389
01:18:17,080 --> 01:18:20,110
but the British press is
dominated by press barrons who

1390
01:18:20,130 --> 01:18:24,100
wanted us to leave, and it
suited their agenda to destroy

1391
01:18:24,120 --> 01:18:25,170
the figurehead for Romane.

1392
01:18:28,040 --> 01:18:30,050
DAVID: On Wednesday, I would
attend the House of Commons for

1393
01:18:30,070 --> 01:18:32,180
Prime Ministers, answer
questions, and then after that,

1394
01:18:32,200 --> 01:18:35,180
I expect to go to the
Palace and offer my resignation,

1395
01:18:35,200 --> 01:18:38,110
so we'll have a new Prime
Minister in that building behind

1396
01:18:38,130 --> 01:18:40,120
me by Wednesday evening.

1397
01:18:40,140 --> 01:18:42,150
Thank you very much.

1398
01:18:43,170 --> 01:18:46,040
PAUL: Cameron helped to create
this moral atmosphere which

1399
01:18:46,060 --> 01:18:49,180
said, look, this behavior is
wrong and should not be helped

1400
01:18:49,200 --> 01:18:53,070
by the laws that we have
in existence at the moment.

1401
01:18:59,210 --> 01:19:02,110
MAN 8: The documents show allies
to Russian President Vladimir

1402
01:19:02,130 --> 01:19:05,150
Putin secretly shuffled as much
as $2 billion through

1403
01:19:05,170 --> 01:19:08,060
banks and shadow companies.

1404
01:19:08,080 --> 01:19:10,000
PAUL: Day one, of course,
was Vladimir Putin and the two

1405
01:19:10,020 --> 01:19:12,150
$2 billion worth of
money that led back to him,

1406
01:19:12,170 --> 01:19:14,150
which was a remarkable story.

1407
01:19:14,170 --> 01:19:17,110
It's been one of international
journalism's holy grails,

1408
01:19:17,130 --> 01:19:19,120
really, that story.

1409
01:19:19,140 --> 01:19:21,090
JOHN OLIVER: The papers revealed
the identity of a suspiciously

1410
01:19:21,110 --> 01:19:26,050
rich cellist, which raises
immediate red flags for me,

1411
01:19:26,070 --> 01:19:28,110
'cause I always thought the
only way to make millions with a

1412
01:19:28,130 --> 01:19:31,070
cello is to use it
to dig for gold.

1413
01:20:01,030 --> 01:20:02,120
LUKE: You know, he's basically
saying we're all spies.

1414
01:20:02,140 --> 01:20:05,080
We scheme dastardly stuff to
try and defame the

1415
01:20:05,100 --> 01:20:07,090
Russian Federation.

1416
01:20:07,110 --> 01:20:08,130
Now, of course
that isn't the case,

1417
01:20:08,150 --> 01:20:10,090
and if it were a CIA plot--

1418
01:20:11,190 --> 01:20:13,180
LUKE: --how come David
Cameron got sucked in?

1419
01:20:13,200 --> 01:20:15,050
How come demonstrations
in Iceland

1420
01:20:15,070 --> 01:20:17,100
and Argentina?

1421
01:20:18,070 --> 01:20:19,120
JULIETTE: I mean
the hilarious thing,

1422
01:20:19,140 --> 01:20:24,060
you know, is that Putin ended
up having to buy lots of cellos.

1423
01:20:24,230 --> 01:20:26,040
Roldugin bought lots of cellos
because he said it was for

1424
01:20:26,060 --> 01:20:29,070
buying cellos, so they went and
bought a lot of cellos after.

1425
01:20:33,150 --> 01:20:37,050
MARISA: This wasn't on
official news in Russia.

1426
01:20:37,070 --> 01:20:39,100
Unless you were
looking at foreign media,

1427
01:20:39,120 --> 01:20:42,150
you had no idea that
the Panama Papers broke.

1428
01:20:42,170 --> 01:20:45,100
The officials who were
implicated in these documents

1429
01:20:45,120 --> 01:20:48,070
would retaliate
against journalists.

1430
01:20:48,090 --> 01:20:49,100
It's real.

1431
01:20:49,120 --> 01:20:50,170
Journalists have been killed.

1432
01:20:54,200 --> 01:20:56,000
NEWS REPORTER 42: A car exploded
in flames in the Ukrainian

1433
01:20:56,020 --> 01:20:59,220
capital of Kiev early Wednesday
morning inside a prominent

1434
01:21:00,000 --> 01:21:02,070
journalist, Pavel Sheremet.

1435
01:21:02,090 --> 01:21:05,150
MAN 9:

1436
01:21:05,170 --> 01:21:07,110
NEWS REPORTER 42: An eye witness
to the blast says several people

1437
01:21:07,130 --> 01:21:09,020
tried to pull Sheremet from
the car, but it appeared

1438
01:21:09,040 --> 01:21:10,100
he was already dead.

1439
01:21:11,010 --> 01:21:13,090
LUKE: In Russia,
journalists, um,

1440
01:21:13,110 --> 01:21:15,060
both in the big
cities and the provinces,

1441
01:21:15,080 --> 01:21:17,130
get killed, shot,
beaten to death.

1442
01:21:17,150 --> 01:21:19,100
Roman Anin who works
for Novaya Gazeta,

1443
01:21:19,120 --> 01:21:21,190
he was kind of
instrumental in, in chasing the,

1444
01:21:21,210 --> 01:21:23,210
following the money all the way
to Putin and making that kind

1445
01:21:23,230 --> 01:21:24,200
of connection.

1446
01:21:38,180 --> 01:21:40,110
FREDERIK: The Kremlin pretty
soon found out who our Russia

1447
01:21:40,130 --> 01:21:45,110
partners are, so there
was TV programs that were,

1448
01:21:45,130 --> 01:21:48,030
that basically
screamed something like,

1449
01:21:48,050 --> 01:21:52,150
"Wanted" posters of the two of
them putting out information,

1450
01:21:52,170 --> 01:21:55,020
um, on them, detailed
information that could lead

1451
01:21:55,040 --> 01:21:58,160
people to the place where they
work or potentially where

1452
01:21:58,180 --> 01:22:00,030
they live.

1453
01:22:00,050 --> 01:22:03,070
They, to a certain point,
left Russia for a while.

1454
01:22:06,100 --> 01:22:09,070
RITA: We were
treated as, uh, traitors.

1455
01:22:09,090 --> 01:22:11,150
There were publications all
over the social networks and

1456
01:22:11,170 --> 01:22:14,190
everywhere blaming us
for selling our country,

1457
01:22:14,210 --> 01:22:16,150
blaming us for treason.

1458
01:22:16,170 --> 01:22:18,120
Theywere people saying,
"What should we do with a

1459
01:22:18,140 --> 01:22:20,000
traitor journalist?"

1460
01:22:20,020 --> 01:22:21,040
with our names.

1461
01:22:21,060 --> 01:22:23,060
They said, well, should we
throw them off the bridge of

1462
01:22:23,080 --> 01:22:24,030
the canal?

1463
01:22:24,100 --> 01:22:26,110
Should we send
them to Punta Coco,

1464
01:22:26,130 --> 01:22:28,070
which is equivalent of
Alcatraz for Panama,

1465
01:22:28,090 --> 01:22:29,020
or should we just
send them to La Joya,

1466
01:22:29,040 --> 01:22:31,040
which is a maximum
security prison.

1467
01:22:32,020 --> 01:22:33,000
JOSEPH: This sort of thing
is happening

1468
01:22:33,020 --> 01:22:34,040
a lot of, a lot of
places in the world,

1469
01:22:34,060 --> 01:22:35,040
it's absolutely terrifying.

1470
01:22:35,060 --> 01:22:38,000
Me personally, I've been
physically threatened,

1471
01:22:38,020 --> 01:22:39,120
I've been
threatened with lawsuits.

1472
01:22:39,140 --> 01:22:41,150
Um, but I'm really lucky.

1473
01:22:41,170 --> 01:22:43,150
I, you know, I work
in the United States.

1474
01:22:43,170 --> 01:22:46,010
It's really bad form to
kill a journalist here.

1475
01:22:46,030 --> 01:22:48,170
Investigative journalism is hard
enough without having to worry,

1476
01:22:48,190 --> 01:22:51,050
do all that kind
of moral math, um,

1477
01:22:51,070 --> 01:22:52,200
physical risk.

1478
01:22:52,220 --> 01:22:53,210
It's something that war
correspondents are used to doing

1479
01:22:53,230 --> 01:22:55,060
all the time.

1480
01:22:55,080 --> 01:22:56,110
In a way, it kind of feels
like we're all war

1481
01:22:56,130 --> 01:22:57,230
correspondents now.

1482
01:23:00,190 --> 01:23:03,200
MARINA: This just shows how
vulnerable reporters around the

1483
01:23:03,220 --> 01:23:06,190
world working on
corruption issues are.

1484
01:23:09,150 --> 01:23:14,040
One answer to that vulnerability
is working in networks and

1485
01:23:14,060 --> 01:23:16,040
in teams.

1486
01:23:17,100 --> 01:23:20,030
You can't take
down 376 reporters.

1487
01:23:24,110 --> 01:23:27,200
PRESENTER: For
the Panama Papers,

1488
01:23:27,220 --> 01:23:30,110
reporting that explored the
hidden infrastructure and global

1489
01:23:30,130 --> 01:23:33,000
scale of offshore tax havens...

1490
01:23:34,080 --> 01:23:36,210
PRESENTER: The Pulitzer Prize
and explanatory reporting goes

1491
01:23:36,230 --> 01:23:41,010
to... The International
Consortium of Investigative

1492
01:23:41,030 --> 01:23:44,150
Journalists, McClatchy
and the Miami Herald.

1493
01:23:45,220 --> 01:23:49,180
MARISA: Just the idea that
we were able to-to finish the

1494
01:23:49,200 --> 01:23:55,180
Panama Papers despite all of the
doubts and publish it along with

1495
01:23:55,200 --> 01:23:57,210
all of these other
reporters all across the world.

1496
01:24:03,180 --> 01:24:06,220
JÓHANNES: And it felt so
surreal because the Pulitzer is

1497
01:24:07,010 --> 01:24:10,150
something you always
dream of as a journalist,

1498
01:24:10,170 --> 01:24:13,060
but as a German journalist, it's
something that you can normally

1499
01:24:13,080 --> 01:24:15,110
not reach.

1500
01:24:21,170 --> 01:24:22,210
GERARD: It's nice to show that
journalists can actually work

1501
01:24:22,230 --> 01:24:24,220
together, and I think that's
something that we always thought

1502
01:24:25,000 --> 01:24:25,160
would never happen.

1503
01:24:25,180 --> 01:24:27,200
You know,
journalists are selfish,

1504
01:24:27,220 --> 01:24:29,190
we don't share stories,
we don't share sources.

1505
01:24:29,210 --> 01:24:31,120
We've just proven
that that's wrong,

1506
01:24:31,140 --> 01:24:32,180
that, in fact, you can get a
better story sometimes if you

1507
01:24:32,200 --> 01:24:35,130
do, if you do share.

1508
01:24:37,170 --> 01:24:41,030
MAN 9: You do need big,
international teams to cover

1509
01:24:41,050 --> 01:24:43,110
big, international topics.

1510
01:24:45,010 --> 01:24:46,180
KEVIN: Then it cleared the way
for us to spend the rest of the

1511
01:24:46,200 --> 01:24:49,200
year really doing the kind of
stuff that you couldn't do on

1512
01:24:49,220 --> 01:24:51,160
the first day, but were just
as important as the first

1513
01:24:51,180 --> 01:24:53,080
day stories.

1514
01:24:59,050 --> 01:25:00,230
FREDERIK: I thought that this
would be the time that we can

1515
01:25:01,010 --> 01:25:05,150
refocus and go into the stories
we hadn't yet the time to

1516
01:25:05,170 --> 01:25:13,040
finish, but then we heard this
terrible news from Malta where

1517
01:25:13,060 --> 01:25:17,160
Daphne Galizia, um, was
killed in a-a car bombing.

1518
01:25:17,180 --> 01:25:21,120
NEWS REPORTER 43: The son of
the investigative journalist,

1519
01:25:21,140 --> 01:25:23,210
Daphne Caruana Galizia, who was
killed in a car bomb attack in

1520
01:25:23,230 --> 01:25:26,210
Malta has attacked the island
as a mafia state run by what he

1521
01:25:26,230 --> 01:25:28,080
called crooks.

1522
01:25:28,100 --> 01:25:30,200
His 53-year-old mother,
who was killed yesterday,

1523
01:25:30,220 --> 01:25:33,210
was known for her blog accusing
politicians of high-level

1524
01:25:33,230 --> 01:25:37,130
corruption and she led the
Panama Papers investigation into

1525
01:25:37,150 --> 01:25:39,080
corruption on the island.

1526
01:25:41,070 --> 01:25:42,210
MAN 10: We couldn't have been
more shocked when-when we found

1527
01:25:42,230 --> 01:25:44,090
out that Daphne, you
know, Matthew's mother,

1528
01:25:44,110 --> 01:25:46,120
had been blown up.

1529
01:25:46,140 --> 01:25:50,110
I mean, it just seemed so
senseless and-and crazy.

1530
01:25:52,130 --> 01:25:54,010
MATTHEW: It was,
the message was,

1531
01:25:54,030 --> 01:25:59,140
look, we can, we can do this
and we can get away with it.

1532
01:25:59,160 --> 01:26:02,170
We have, there's no deterrent.

1533
01:26:02,190 --> 01:26:07,100
We can strike whoever we want,
whenever we want and get away

1534
01:26:07,120 --> 01:26:10,060
with it.

1535
01:26:14,000 --> 01:26:14,200
GERARD: The fact that
she was killed in Malta,

1536
01:26:14,220 --> 01:26:17,020
you're talking about
a European country.

1537
01:26:17,040 --> 01:26:21,080
That really shocked not
just us, but also the world.

1538
01:26:23,200 --> 01:26:25,100
JACOB: You know, this,
what happened to Daphne,

1539
01:26:25,120 --> 01:26:30,180
it-it never, we never thought
anything could happen in Malta.

1540
01:26:30,200 --> 01:26:32,150
Daphne was, you
know, very much a,

1541
01:26:32,170 --> 01:26:33,230
a fearless investigator.

1542
01:26:34,010 --> 01:26:37,170
You know, a, a lone, a
lone voice in a sense.

1543
01:26:38,200 --> 01:26:40,020
She was very frustrated
with-with mainstream media.

1544
01:26:40,040 --> 01:26:41,140
I don't know.

1545
01:26:41,160 --> 01:26:45,150
People just gravitated
towards her blog naturally.

1546
01:26:46,040 --> 01:26:47,180
JULIETTE: Daphne was
fierce, and she was a blogger,

1547
01:26:47,200 --> 01:26:49,220
so she had a lot more freedom
than newspaper journalists in

1548
01:26:50,000 --> 01:26:52,150
terms of expressing her
opinion, and she used it.

1549
01:26:52,170 --> 01:26:55,150
DAPHNE: My article went
up at 7:00 in the evening,

1550
01:26:55,170 --> 01:26:58,200
and two and a half hours
later, by half past nine,

1551
01:26:58,220 --> 01:27:03,020
the police are already at my
gate with a warrant for my

1552
01:27:03,040 --> 01:27:07,100
arrest issued by a magistrate
within two and a half hours.

1553
01:27:07,120 --> 01:27:12,230
The police cannot understand why
I will not abide by the law and

1554
01:27:13,010 --> 01:27:16,100
sit at home quietly and not
write anything about politics.

1555
01:27:16,120 --> 01:27:21,110
FREDERIK: She was one addressing
things many politicians did not

1556
01:27:21,130 --> 01:27:23,110
want to hear.

1557
01:27:25,020 --> 01:27:29,000
She wrote about corruption
at the highest levels

1558
01:27:29,020 --> 01:27:30,190
of government.

1559
01:27:30,210 --> 01:27:31,170
You know, I
mean I always get,

1560
01:27:31,190 --> 01:27:34,030
like, you know,
the-the usual people,

1561
01:27:34,050 --> 01:27:36,130
"Don't worry, the
truth will come to light.

1562
01:27:36,150 --> 01:27:37,210
Good always wins.

1563
01:27:37,230 --> 01:27:39,130
There will be justice."

1564
01:27:39,150 --> 01:27:41,190
My mother always
thought that was bullshit.

1565
01:27:43,220 --> 01:27:45,150
JULIETTE: She
wasn't just outspoken.

1566
01:27:45,170 --> 01:27:48,010
She was effective, and I think
that's why she's-she's

1567
01:27:48,030 --> 01:27:50,020
been killed.

1568
01:27:54,020 --> 01:27:56,010
What was
particularly shocking was that,

1569
01:27:56,030 --> 01:28:00,000
for some people, um, this
assassination was a-a cause

1570
01:28:00,020 --> 01:28:01,050
of celebration.

1571
01:28:01,070 --> 01:28:05,160
One police officer actually
tweeted that he was pleased that

1572
01:28:05,180 --> 01:28:09,030
this had happened and-and called
her "cow dung" the day after,

1573
01:28:09,050 --> 01:28:13,000
so you know, there wasn't
universal condemnation of this

1574
01:28:13,020 --> 01:28:14,010
act in Malta.

1575
01:28:14,030 --> 01:28:16,150
Perhaps there should have been.

1576
01:28:17,110 --> 01:28:18,210
NEWS REPORTER 44: A court in
Malta has charged three men with

1577
01:28:18,230 --> 01:28:21,080
the murder of
Daphne Caruana Galiza.

1578
01:28:21,100 --> 01:28:23,200
Maltase media say the
authorities honed in on the

1579
01:28:23,220 --> 01:28:27,040
suspects following
telephone intercepts.

1580
01:28:27,060 --> 01:28:29,120
Police arrested 10 men on on
Monday in connection with

1581
01:28:29,140 --> 01:28:31,050
the killing.

1582
01:28:31,070 --> 01:28:35,020
Seven have been released on
bail pending further inquiries.

1583
01:28:35,200 --> 01:28:38,060
MAN 11: It was
just all a big show.

1584
01:28:38,080 --> 01:28:41,210
MATTHEW: I am quite confident
that they were the people who

1585
01:28:41,230 --> 01:28:45,220
executed the orders to
assassinate my mother,

1586
01:28:46,000 --> 01:28:48,050
but my mother never
wrote about them,

1587
01:28:48,070 --> 01:28:52,040
she never investigated them,
she had no idea who they were.

1588
01:28:52,060 --> 01:28:55,190
They've probably never
even read what she wrote.

1589
01:28:57,070 --> 01:28:59,060
JACOB: They may have the
people who-who pushed a button,

1590
01:28:59,080 --> 01:29:01,060
who-who, you know,
who set off the bomb,

1591
01:29:01,080 --> 01:29:02,220
but they're definitely
not the masterminds,

1592
01:29:03,000 --> 01:29:05,010
and they definitely, you know,
wouldn't have had the motive to

1593
01:29:05,030 --> 01:29:07,150
do it, so the big
question is, you know,

1594
01:29:07,170 --> 01:29:09,150
who ordered this
kill, and ultimately,

1595
01:29:09,170 --> 01:29:12,160
who paid them, as well?

1596
01:29:14,040 --> 01:29:17,160
MAN 10: The way it was done,
it was also a way of getting

1597
01:29:17,180 --> 01:29:19,130
sources to stop talking.

1598
01:30:02,220 --> 01:30:05,150
NEWS REPORTER 45: The two
founders of Panamanian law firm

1599
01:30:05,170 --> 01:30:09,020
Mossack Fonseca were arrested
after both were indicted on

1600
01:30:09,040 --> 01:30:11,000
charges of money laundering.

1601
01:31:14,150 --> 01:31:18,010
ROBERTO: Porcell, I think, is
trying to do what has to be

1602
01:31:18,030 --> 01:31:23,210
done, but the judiciary, which
is where she has to deposit

1603
01:31:23,230 --> 01:31:31,090
her investigations, has zero
credibility at this point.

1604
01:31:32,060 --> 01:31:36,080
If you talk to Panamanians
out there about this,

1605
01:31:36,100 --> 01:31:39,010
the reaction is
"No pasa nada"...

1606
01:31:39,030 --> 01:31:41,050
Nothing will happen.

1607
01:31:41,070 --> 01:31:42,010
I don't think that's right.

1608
01:31:42,030 --> 01:31:45,000
I think that
something will happen.

1609
01:31:45,020 --> 01:31:48,210
We have an ex-president of
the Supreme Court in jail.

1610
01:31:48,230 --> 01:31:52,010
We have an
ex-president in jail in Miami.

1611
01:31:52,030 --> 01:31:54,170
I mean, there are
things happening.

1612
01:31:59,070 --> 01:32:01,120
I feel that
somewhere along the way,

1613
01:32:01,140 --> 01:32:04,230
in incremental bits, we'll
be solving these problems.

1614
01:32:05,010 --> 01:32:09,180
It's just a, a human problem
that we have to face all over

1615
01:32:09,200 --> 01:32:12,040
the world.

1616
01:32:14,000 --> 01:32:16,020
FREDERIK: This is
not only about Panama,

1617
01:32:16,040 --> 01:32:20,020
that's a worldwide problem,
and if it should get solved,

1618
01:32:20,040 --> 01:32:22,030
it's something that has to
be addressed in the U.S.,

1619
01:32:22,050 --> 01:32:23,170
as well.

1620
01:32:23,190 --> 01:32:24,230
KEVIN: One of the things
that led to change on the U.S.

1621
01:32:25,010 --> 01:32:30,000
end that both Nevada and Wyoming
changed their laws based on some

1622
01:32:30,020 --> 01:32:32,100
of what we were able to show
about these nominee directors

1623
01:32:32,120 --> 01:32:34,150
that really weren't contacts.

1624
01:32:34,170 --> 01:32:37,110
And the UK government is now
supporting efforts to force

1625
01:32:37,130 --> 01:32:41,010
transparency in overseas
tax havens that do that by

1626
01:32:41,030 --> 01:32:44,020
introducing public registries
across the

1627
01:32:44,040 --> 01:32:44,110
commonwealth countries.

1628
01:32:48,130 --> 01:32:53,110
MARINA/EMILIA:

1629
01:32:53,130 --> 01:32:55,100
WOMAN 5: Panama Papers
hasn't ended yet.

1630
01:32:55,120 --> 01:32:56,120
It's still going.

1631
01:32:56,140 --> 01:33:01,010
Every week, there's a new
Panama Papers development.

1632
01:33:01,030 --> 01:33:04,040
Reporters are still in the
database and are still searching

1633
01:33:04,060 --> 01:33:08,070
and still finding
things that we missed.

1634
01:33:10,180 --> 01:33:13,120
MARISA: While there have been a
lot of investigations launched,

1635
01:33:13,140 --> 01:33:17,220
including in the U.S., and there
have been a number of people all

1636
01:33:18,000 --> 01:33:20,110
across the world who
have been arrested,

1637
01:33:20,130 --> 01:33:25,070
there has been an element of
inaction in areas that really

1638
01:33:25,090 --> 01:33:29,080
matter, reform that would
prevent these offshores from

1639
01:33:29,100 --> 01:33:32,080
being created in the
way they are created.

1640
01:33:32,100 --> 01:33:33,110
There was a lot
of talk about it,

1641
01:33:33,130 --> 01:33:38,100
but yet, that hasn't
happened in a significant way.

1642
01:33:40,170 --> 01:33:41,200
MAN 10: I think history has
shown that as important as

1643
01:33:41,220 --> 01:33:45,160
Panama Papers are in revealing
this kind of underbelly of

1644
01:33:45,180 --> 01:33:49,100
global finance and how it
ties into the whole inequality

1645
01:33:49,120 --> 01:33:52,140
question, I think it also
will probably lead to a

1646
01:33:52,160 --> 01:33:53,170
better mousetrap.

1647
01:33:53,190 --> 01:33:54,170
GERARD: Will the scams go on?

1648
01:33:54,190 --> 01:33:56,010
Will there be new ways found?

1649
01:33:56,030 --> 01:33:57,170
Yes, of course.

1650
01:33:57,190 --> 01:33:59,210
You know, they, it-it, you know,
the world will probably just get

1651
01:33:59,230 --> 01:34:01,030
a bit more sophisticated.

1652
01:34:01,050 --> 01:34:04,050
MATTHEW: There's a democratic
backsliding in the world in

1653
01:34:04,070 --> 01:34:08,120
general, and I think that this
is taking journalism down

1654
01:34:08,140 --> 01:34:09,190
with it.

1655
01:34:09,210 --> 01:34:13,000
It's kind of strange
that, at that same time,

1656
01:34:13,020 --> 01:34:16,130
it's a golden age for
investigative journalism.

1657
01:34:16,150 --> 01:34:20,020
Our work has never been
as important as it is now.

1658
01:34:43,190 --> 01:34:45,140
JOHN: But when it
takes a whistleblower to sound

1659
01:34:45,160 --> 01:34:49,010
the alarm, it is cause
for even greater concern.

1660
01:34:52,120 --> 01:34:54,060
It signals that democracy's
checks and balance have all

1661
01:34:54,080 --> 01:34:58,120
failed, that the
breakdown is systemic,

1662
01:34:58,140 --> 01:35:02,040
and that severe instability
could be just around the corner.