More than two million emails that shed light on the biggest tax dodge in history – trillions of dollars hidden in offshore accounts – have been uncovered by the British newspaper The Guardian and the Washington, D.C.-based International Consortium of Investigative Journalists (ICIJ).
Some $32 trillion has been hidden in small island banking hubs which host a bevy of trust funds, shell corporations and other tax havens, the Tax Justice Network estimates.
This money is to the financial world what the Higgs boson and dark matter are to particle physics: It's tough to prove it's there, but the universe doesn't make much sense without it. It's just a matter of connecting the money to the people hiding it.
That's been a tall order… until now.
An Unprecedented Tax Dodge
Next to this bombshell, Wikileaks looks like a first-grader's game of Telephone.
In fact, the leak contains more than 200 gigabytes of data, compared with Wikileaks' two gigabytes.