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Panama Papers Shed Light On Global Business Of Tax Avoidance

NPR | By Jim Zarroli

Published April 4, 2016 at 4:28 PM EDT

A huge trove of documents leaked from a large Panamanian law firm is shedding light on the global business of tax avoidance. The papers reveal that large numbers of world leaders, athletes and movie stars hired the firm to set up shell corporations and offshore accounts with the aim of hiding their money. Regulators around the world say they will use the document dump to pursue illegal activity.