French President Francois Hollande is promising that a massive leak of documents exposing the offshore dealings of wealthy individuals will lead to legal proceedings in France.
“All the information revealed will lead to investigations brought by the tax authorities and to legal proceedings,” Hollande says.
He thanks “the whistleblowers” for bringing the so-called Panama Papers to light.
“It’s good news that we are aware of these revelations because it will bring in tax revenue from those who have defrauded,” Hollande says.
The president said that in 2015, French individuals were found to have hidden 20 billion euros ($22.7 billion) from French tax authorities and the state “has already clawed back 12 billion euros,” although those cases were not linked to the Panama Papers.
Some 600 Israeli companies and 850 Israeli shareholders are also listed in the 11.5 million documents leaked from Panamanian law firm Mossack Fonseca, according to Haaretz. There has not been any word yet on Israeli legal proceedings.
— with AFP
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