Eight years after the revelation of the global financial scandal of the so-called "Panama Papers," the first trial against 27 defendants began in Panama on Monday.
The Panama Papers came to the public in spring 2016 due to a data leak. They were documents from the Panamanian law firm Mossack Fonseca, which were evaluated by journalists around the world. They found that numerous politicians, athletes and other celebrities had assets in offshore companies.
The co-owner of the now defunct Mossack Fonseca, German-born lawyer Jürgen Mossack, appeared in court in Panama City on Monday, the first day of the trial which was live broadcast online.
The defendants are accused of money laundering by setting up 215,000 shell companies in tax havens.
"I am not responsible for such offences," said 76-year-old Mossack after the indictment was read out. The trial in the Central American country is scheduled to last three weeks.
In the spring of 2016, the German newspaper Süddeutsche Zeitung, the Washington-based International Consortium of Investigative Journalists (ICIJ) and other media revealed the business dealings of the shell companies set up in Panama.
Some 11.5 million documents were leaked. Almost 400 reporters from more than 80 countries took part in the research.
During the investigations, the names of 140 politicians and close confidants emerged. The revelations put them under significant pressure.
Pakistan's then-prime minister Nawaz Sharif lost his position on corruption charges. In Malta there were new elections in June 2017 because of the Panama Papers, while in Iceland their publication led to the resignation of then-prime minister Sigmundur Gunnlaugsson.
The sensational publication of the papers triggered tax investigations in many countries.
