The Panama Papers have seemed to mention people from practically every country. Italy now finds itself with groups and individuals that have been named in this set of 11.5 million documents leaked from the law firm Mossack Fonseca (The Local – Italy, 1). Two banks, Unicredit and UBI Banca, were named though both said publicly they did nothing wrong. Around 800 Italians can be found in the documents that include people such as businessman Giuseppe Donaldo Nicosia, former Ferrari president Luca Cordero di Montezemolo, and racecar driver Jarno Trulli.
With this evidence in hand, Italian tax authorities can now pursue those who have broken the law. Offshore accounts are not illegal, however, these accounts allow for various methods of tax evasion. Italy will not be the first country to start this type of investigation. Austria, Australia, France, Sweden, New Zealand and the Netherlands are in the processes of their criminal investigations (The Local – Italy, 1).
The breadth of the Panama Papers itself is quite staggering. Over 140 politicians and government officials worldwide are found in the documents. Out of this group, twelve are current and/or former world leaders. To be specific this includes: the presidents of Ukraine and Pakistan, Iceland’s prime ministers, and the king of Saudi Arabia (The Local – Italy, 1). Team Mint Condition will keep our readers updated on any news regarding the Panama Papers in Italy.
“Panama Papers: Italy Readies to Probe Country’s Rich.” The Local . 5 April 2016. Web.