'John Doe' says he leaked law firm's Panama Papers to show why income inequality is a big problem
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An individual reportedly behind a massive leak of confidential documents from a Panama-based law firm says he was driven by the issue of “income inequality” to made the material public.
As the documents show, “massive, pervasive corruption” is why many people find themselves on the wrong side of an ever-widening financial gulf, according to John Doe.
The unidentified man apparently pointed the finger at those who make improper use of the shell companies set up by Mossack Fonseca, rather than the law firm itself, in an 1,800-word statement released Friday by the International Consortium of Investigative Journalists, according to ABC News. The ICIJ has been involved in reporting on what the leaked documents say and plans to put more information out Monday.
After the data breach—which was described by a Mossack Fonseca partner as the result of a hacker attack—a number of prominent figures, including some government leaders, scrambled to explain why they had substantial assets in secret offshore accounts.
Neither offshore accounts nor shell companies are, in and of themselves, illegal, and the law firm has insisted it did nothing wrong in setting up shell companies for a client group largely consisting of banks, accountants and law firms to provide to third parties.
“It is important for us to make clear that we operate, in all jurisdictions, under strict compliance with the law and regulations of the industry in all services provided, respecting strong client identification norms,” said Mossack Fonseca in a Thursday written statement provided to ABC News.
The law firm declined to answer specific questions from the station.
However, stealing some 11.5 million confidential documents was wrong, Mossack Fonseca writes. Hence, the law firm has sent a letter to the International Consortium of Investigative Journalists calling on the group to cease and desist, ABC News reports.
“The letter urges the ICIJ to abstain from this action taking into consideration that it is based on the theft of confidential information and is a violation of the confidentiality agreement between attorney and client, which we must protect,” the law firm said in the statement.
Related coverage:
ABAJournal.com: “New Treasury Dept. rule requires banks to identify owners of shell companies that open accounts”
ABAJournal.com: “Prosecutors launch probes after massive leak of Panama law firm’s documents”
ABAJournal.com: “Partner: Massive data breach at ‘Panama Papers’ law firm was from hack attack, not internal leak”
McClatchy: “Panama law firm used charities’ names as cloaks for clients “
