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ARTICLE · 30 NOVEMBER 2017

Paradise Papers: The Latest Offshore Leak

Jones Day
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Similar leaks, such as the Panama Papers, have led to investigations.

United StatesCriminal Law
Kathy Keneally
Kathy Keneally
Frank J. Jackson
Frank J. Jackson
Michael J. Scarduzio
Michael J. Scarduzio
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Hackers leaked approximately 13.4 million confidential client documents from Appleby, Estera, and Asiaciti Trust to the International Consortium of Investigative Journalists.

The leaked files, known as the "Paradise Papers," show that Appleby set up companies and bank accounts in low tax jurisdictions. The client list is reportedly dominated by U.S. companies and individuals, including "politically exposed persons," Fortune 500 companies, financial institutions, and high-net worth individuals. The leak resulted from a hacker attack last year. It is unclear when reporters first got the hacked files, or if governments had early access. Similar leaks, such as the Panama Papers, have led to investigations.

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