Bitcoiners Starting to Appear in Panama Papers Leaks

lol! I thought I heard it all..

In the court of public opinion, the documents provided evidence that wealthy individuals and public officials keep certain financial dealings private. As pointed out in much of the original coverage of the Panama Papers leak, offshore business entities are often legal. Of course, some people used these structures for illegal purposes, like fraud, kleptocracy and tax evasion.

The documents were leaked by a “John Doe” to German newspaperSüddeutsche Zeitung (SZ).

“My life is in danger,” he told reporters in a May 6 statement.  He leaked the documents “simply because I understood enough about their contents to realize the scale of the injustices they described.”

SZ asked the International Consortium of Investigative Journalists (ICIJ) to help analyze the documents due to the sheer volume. 107 media organizations in 80 countries helped analyze the papers for one year before the first news stories were published on April 3, 2016.

wo prominent Bitcoiners, Erik Vorhees and Charlie Shrem, have been tied to the papers.

Vorhees is an influential figure in the digital currency space, having found Satoshi Dice, one of the most popular online gambling games based on the digital currency, as well as ShapeShift, a revolutionary new medium for exchanging digital currency. Born in Colorado, Vorhees later gained Panamanian citizenship, and he now lives in Panama City. Despite an attempt to denounce his US citizenship, the SEC declared him a US citizen in a case relating to his offering of shares in companies without registering them.

Charlie Shrem is another early Bitcoin entrepreneur. As co-founder of BitInstant, Shrem made it easy for people to get bitcoins early in the digital currency’s existence. He also is a founding member of the Bitcoin Foundation. He was sentenced to two years in prison in 2015 for charges relating to money laundering.

Read on.


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