Known to be the link of the hidden wealth of the rich people of this world, the leak of Pandora Papers came as a shock and less surprise to the commoners.
Reportedly, secret information about 380-noted Indians were revealed in those documents called Pandora Papers.
The Pandora Papers are 11.9 million leaked documents that were published by the International Consortium of Investigative Journalists on October 3.
Many rich and wealthy people have assets including real estate properties, bank accounts, businesses, trusts operated outside the country they belong to.
In simple words, they have huge assets situated in foreign countries, which make them money. They do this so that they could pay less tax to the government of the country they live in.
The Pandora Papers included information about all of these assets situated in foreign countries, which made huge amount of money, but were out of the loop of the federal tax system.
These papers revealed that how the rich managed to make billions without paying tax. It also showed how smart they played to spoof the air-tight security laws and corporate norms.
Along with Indians, many foreign celebrities, sportspersons, politicians and businessmen were also named in the documents, said reports.
As per the latest reports, the investigation is in progress to recover sensitive information from these papers.
Experts believed that this discovery could bust the international racket of money laundering and black money circuits, which are used to fund terrorism and other illegal activities.