0:00:06 > 0:00:15Tonight on Panorama we expose the secret world of tax havens.
0:00:15 > 0:00:17It's very easy for criminals, tax evaders, money launderers to go
0:00:17 > 0:00:22and take that secrecy and hide their behaviour behind it.
0:00:22 > 0:00:27An enormous leak of confidential documents reveals the truth
0:00:27 > 0:00:30about offshore.
0:00:30 > 0:00:32These documents contain countless stories about the rich and powerful,
0:00:32 > 0:00:37and how they hide their wealth.
0:00:37 > 0:00:44The world leaders with secrets to hide.
0:00:50 > 0:00:52Our documents show why people use tax havens.
0:00:52 > 0:00:55A world so secret, we might never get to know the truth.
0:00:55 > 0:00:58That property in north London, you must have made about ?1 million
0:00:58 > 0:00:59on that.
0:00:59 > 0:01:02Did you tell the tax man about that?
0:01:02 > 0:01:05Tonight we go inside the Panamanian company that helps the rich
0:01:05 > 0:01:11and powerful hide their wealth.
0:01:37 > 0:01:39These weren't Robin Hood robbers, you know, they were really
0:01:39 > 0:01:44nasty, vicious men.
0:01:44 > 0:01:49It was a brutal robbery.
0:01:49 > 0:01:52Three tonnes of gold stolen from the Brinks Mat
0:01:52 > 0:01:55warehouse near London.
0:01:55 > 0:01:59Can you just imagine the fear?
0:01:59 > 0:02:01You're lying there, you can't see what's happening,
0:02:01 > 0:02:05there's a bloke flicking a lighter saying he's going to set fire
0:02:05 > 0:02:10to all this petrol.
0:02:12 > 0:02:17The gold was melted down and sold, and cash was hidden offshore.
0:02:17 > 0:02:19When were you last down here, then?
0:02:19 > 0:02:21About 1987, I would think.
0:02:21 > 0:02:24Long time ago now.
0:02:24 > 0:02:28Former detective Billy Miller's job was to find the money.
0:02:28 > 0:02:33And some of it had been spent on property.
0:02:33 > 0:02:37This house in Kent was bought with Brink's Mat loot using a secret
0:02:37 > 0:02:40Panamanian front company.
0:02:45 > 0:02:49Why would this house then be owned by a Panamanian company?
0:02:49 > 0:02:54Well, it was just a cover.
0:02:54 > 0:02:56Nobody would think, you know, it doesn't belong to
0:02:56 > 0:03:01a launderer for Brinks Mat.
0:03:01 > 0:03:04It's, this company owns it so it must be OK, you know?
0:03:04 > 0:03:09Now, we have found a crucial memo.
0:03:09 > 0:03:11The organisation which helped create the front company
0:03:11 > 0:03:20carried on working for the client, even after being warned
0:03:20 > 0:03:22they were involved with
0:03:22 > 0:03:28the proceeds of the famous robbery at Brinks Mat in London.
0:03:28 > 0:03:31What's clear, crystal clear, as you can see, is that the people
0:03:31 > 0:03:35who were helping them keep the money out of your reach,
0:03:35 > 0:03:42knew that it was from the Brinks Mat robbery.
0:03:42 > 0:03:50Well once they knew that it was from the
0:03:50 > 0:03:53Brinks Mat robbery, they should have washed their hands of it and should
0:03:53 > 0:03:55have had no more to do with it.
0:03:55 > 0:03:58So it makes them as bad as the man who bought the house.
0:03:58 > 0:04:02In the end, the police managed to trace most of the Brinks Mat
0:04:02 > 0:04:03loot, though it took years.
0:04:03 > 0:04:05What's shocking is the company that helped launder some of the cash has
0:04:06 > 0:04:14Welcome to Panama.
0:04:14 > 0:04:19It's a long way from criminal gangs in London.
0:04:19 > 0:04:21It's carnival, but Panama makes much of its living
0:04:21 > 0:04:28as an important tax haven.
0:04:28 > 0:04:30Billions of dollars a year flow through this tiny
0:04:30 > 0:04:35Central American country.
0:04:35 > 0:04:43Panama helps you hide your wealth.
0:04:43 > 0:04:46What Panama sells is secrecy, you can go to Panama and you can get
0:04:46 > 0:04:53a foundation or a trust or a company and you can use those complicated
0:04:53 > 0:04:56and slightly strange structures to hide and disguise your ownership
0:04:56 > 0:05:01and control of assets.
0:05:05 > 0:05:08And Panama is the home of one of the world's biggest providers
0:05:08 > 0:05:17of offshore services.
0:05:17 > 0:05:21Mossack Fonseca has offices in 27 countries.
0:05:21 > 0:05:25It's the company that helped the Brink's Mat robbers.
0:05:25 > 0:05:28From the outside, Mossack Fonseca looks like a
0:05:28 > 0:05:30perfectly respectable company.
0:05:30 > 0:05:33But this is a business that's helped people from around the world
0:05:33 > 0:05:36break the law.
0:05:41 > 0:05:44We know because 11 million documents from Mossack Fonseca
0:05:44 > 0:05:53have been leaked.
0:05:54 > 0:05:58They were handed to a German newspaper, Suddeutsche Zeitung.
0:05:58 > 0:06:00It shared them with the International Consortium
0:06:00 > 0:06:04of Investigative Journalists.
0:06:04 > 0:06:06Together with Guardian and more than 100 media organizations
0:06:06 > 0:06:13around the world, we've been analyzing them.
0:06:13 > 0:06:16I think the leak will prove to be probably the biggest blow
0:06:16 > 0:06:20the offshore world has ever taken because of the extent
0:06:20 > 0:06:24of the documents, they span over a 40-year period and they really
0:06:24 > 0:06:25tell the day-to-day, almost point by point,
0:06:25 > 0:06:30of the offshore world.
0:06:31 > 0:06:35We've found links to 72 current or former heads of state,
0:06:35 > 0:06:42including dictators accused of looting their countries.
0:06:44 > 0:06:49So what is it that Mossack Fonseca does to attract all these clients?
0:06:49 > 0:06:59Well, they hide your involvement in a company so no one will know.
0:06:59 > 0:07:02So, nobody knew about the secret company of the Icelandic Prime
0:07:02 > 0:07:12Minister, Sigmundur Gunnlaugson.
0:07:14 > 0:07:16It was an offshore company called Wintris and he and his wife had
0:07:16 > 0:07:18shares in it.
0:07:18 > 0:07:22It held her family wealth.
0:07:22 > 0:07:25But nobody knew his wife had interests in Iceland's banks worth
0:07:25 > 0:07:28millions of dollars.
0:07:28 > 0:07:30And nobody knew she could potentially benefit from her
0:07:30 > 0:07:35husband's policies to help the banks.
0:07:35 > 0:07:59They do now.
0:08:02 > 0:08:04Mr Gunnlaugson says his wife was the true owner and didn't
0:08:04 > 0:08:07benefit financially from his decisions.
0:08:07 > 0:08:13But he never declared an interest to the Icelandic Parliament.
0:08:13 > 0:08:16Today he is facing calls for his resignation.
0:08:16 > 0:08:21Mr Gunnlaugson says he has not broken any rules.
0:08:38 > 0:08:47Some of the deals we have found are a bit more sophisticated.
0:08:47 > 0:08:50Mossack Fonseca helped set up what seems to be a billion-dollar
0:08:50 > 0:08:59money laundering operation involving close associates of Vladimir Putin.
0:09:03 > 0:09:08This is Sergei Roldugin.
0:09:08 > 0:09:18A famous cellist and one of President Putin's oldest friends.
0:09:18 > 0:09:19How close are Putin and Roldugin now?
0:09:19 > 0:09:20They remain very close.
0:09:20 > 0:09:22Roldugin is the godfather of Putin's oldest daughter,
0:09:22 > 0:09:26Mariya.
0:09:26 > 0:09:31I think he's one of those people who remains part of the personal
0:09:31 > 0:09:34inner circle, and close to him on a level that's more
0:09:34 > 0:09:39intimate than certainly any government official.
0:09:39 > 0:09:42But the documents show it's a relationship someone
0:09:42 > 0:09:46wanted to hide.
0:09:46 > 0:09:51This is an application for a bank account for one his companies.
0:09:51 > 0:09:55And it asks whether Mr Roldugin has any relations to politically exposed
0:09:55 > 0:09:57persons, or PEPs.
0:09:57 > 0:09:59And the answer here is no.
0:09:59 > 0:10:04And that is simply not true.
0:10:04 > 0:10:09So, why hide it?
0:10:09 > 0:10:11Well, it could be the suspicious deals being carried out under
0:10:11 > 0:10:17Mr Roldugin's name.
0:10:22 > 0:10:24Take this example - one of the companies owned
0:10:24 > 0:10:29by the cellist borrows $6 million.
0:10:29 > 0:10:36Three months later, the loan is written off for just $1.
0:10:36 > 0:10:40The company has been given $6 million.
0:10:40 > 0:10:43In another suspicious deal, the offshore company buys the rights
0:10:43 > 0:10:52to the repayments on a $200 million loan, again for a dollar.
0:10:54 > 0:11:04Why would anyone want to give all this money to a cellist?
0:11:17 > 0:11:20There's nothing that I have seen which would me
0:11:20 > 0:11:21make do anything other
0:11:21 > 0:11:23than say stop, we need to investigate very closely what's
0:11:23 > 0:11:24going on here.
0:11:24 > 0:11:26To you does it look like money laundering?
0:11:26 > 0:11:28Yes, it does look like money laundering to me, for sure.
0:11:28 > 0:11:31The deals were managed by Bank Rossiya, which was described
0:11:31 > 0:11:33as the personal bank for senior Russian officials
0:11:33 > 0:11:36when it was sanctioned by the US government.
0:11:36 > 0:11:38The Mossack Fonseca files show highly complex deals,
0:11:38 > 0:11:46in the name of a cellist who runs a music school.
0:11:46 > 0:11:52So what's going on?
0:11:52 > 0:11:56If a man who says to you he's not a businessman has his name over
0:11:56 > 0:11:59deals worth hundreds of millions, would you imagine that those deals
0:11:59 > 0:12:01and that money is being held for somebody else?
0:12:01 > 0:12:02I would.
0:12:02 > 0:12:04I would not imagine that he was somebody who controlled
0:12:04 > 0:12:07a vast financial empire.
0:12:07 > 0:12:11Mr Roldugin hasn't answered our questions.
0:12:11 > 0:12:20So, is he simply a front man for somebody else?
0:12:21 > 0:12:24It looks to me as though he is
0:12:24 > 0:12:34an instrument,
0:12:37 > 0:12:39who is playing him as an instrument is unclear.
0:12:39 > 0:12:41Why does this leak matter in the UK?
0:12:41 > 0:12:43Well, for starters, 100,000 properties here are owned
0:12:43 > 0:12:45by offshore companies.
0:12:45 > 0:12:52It's all about secrecy, and often about avoiding tax.
0:12:52 > 0:12:58This is Nick Hague, a millionaire property investor.
0:12:58 > 0:13:00The Mossack Fonseca files show he owned UK properties
0:13:00 > 0:13:08through a secret offshore company.
0:13:08 > 0:13:12This is Islington in north London.
0:13:12 > 0:13:16It's wealthy, it's fashionable, very sought after.
0:13:16 > 0:13:20Now, Nick Hague, he owned one of the houses on this street
0:13:20 > 0:13:24and he sold it for a whacking great profit.
0:13:24 > 0:13:27But he did he tell the tax man?
0:13:32 > 0:13:35He sold the house for nearly ?1 million more
0:13:35 > 0:13:38than he bought it for.
0:13:41 > 0:13:44In an email, Mr Hague told me his offshore company:
0:13:44 > 0:13:49"fully complied with HMRC legislation in 2014 in relation
0:13:50 > 0:13:53to the disposal of this property."
0:13:59 > 0:14:01But is that the full story?
0:14:01 > 0:14:03Or is it really about sleight of hand?
0:14:04 > 0:14:07That Mr Hague is trying to look like his offshore company
0:14:07 > 0:14:10is in charge, when really it's him?
0:14:13 > 0:14:17It's a Mossack Fonseca speciality, to help investors like Mr Hague
0:14:18 > 0:14:22pretend they're not running their own company.
0:14:23 > 0:14:27Directors can be hired to rubber-stamp decisions.
0:14:28 > 0:14:31You can be sold a nominee, that means that someone
0:14:32 > 0:14:34will put their name down on the company documents.
0:14:34 > 0:14:36Whereas in fact you're behind there in the shadows
0:14:36 > 0:14:39pulling the strings.
0:14:40 > 0:14:43That's exactly what Mr Hague is doing.
0:14:43 > 0:14:46So what's the advantage?
0:14:47 > 0:14:50Well, if his offshore company is managed overseas,
0:14:51 > 0:14:54it might not be taxed here in the UK.
0:14:55 > 0:14:58Richard Brooks is a former tax inspector who now writes for
0:14:58 > 0:15:01Private Eye.
0:15:01 > 0:15:02The structure serves two purposes.
0:15:03 > 0:15:06One it keeps the ultimate ownership of all these things secret.
0:15:07 > 0:15:12And it also enables you to claim that any profits you make on these
0:15:13 > 0:15:15properties are tax free.
0:15:15 > 0:15:19If HMRC saw all this, what would they make of it?
0:15:19 > 0:15:23I'm pretty sure they would have some tough questions for Mr Hague.
0:15:24 > 0:15:24Hiya.
0:15:25 > 0:15:27I'm Richard Bilton from BBC Panorama.
0:15:28 > 0:15:30I want to know if Mr Hague has a genuine reason
0:15:31 > 0:15:33for running his business in this way.
0:15:34 > 0:15:36That property in north London, you must have made about ?1 million
0:15:36 > 0:15:37on that.
0:15:38 > 0:15:40Did you tell the tax man about that?
0:15:40 > 0:15:42Richard, you've had my answer via email.
0:15:42 > 0:15:43Yes, but these are such...
0:15:43 > 0:15:45OK, Richard, I've given you my answer.
0:15:45 > 0:15:46What is that then?
0:15:46 > 0:15:47Does the taxman know about that money?
0:15:47 > 0:15:48He should know, shouldn't he?
0:15:49 > 0:15:49Are you deaf?
0:15:49 > 0:15:50I'm not deaf but...
0:15:50 > 0:15:51Hard of hearing?
0:15:51 > 0:15:52There's no problem with me.
0:15:52 > 0:15:53Listen...
0:15:53 > 0:15:54I'm just trying to get straight answers from you and that's
0:15:55 > 0:15:56proving a bit more difficult, to be honest.
0:15:57 > 0:15:58Richard, with all due respect, I gave you my answer via email.
0:15:59 > 0:16:01You've had it. Yes.
0:16:01 > 0:16:03I have made my position clear. Right.
0:16:03 > 0:16:05And that's all I've got to say.
0:16:05 > 0:16:06I know but there are some problems with that.
0:16:07 > 0:16:08There isn't, Richard.
0:16:08 > 0:16:10Do you control an offshore company that you don't tell the taxman,
0:16:10 > 0:16:12because I think that you might?
0:16:12 > 0:16:13Richard, you've got to stop laughing.
0:16:14 > 0:16:14I'm interested.
0:16:14 > 0:16:15These are serious issues.
0:16:15 > 0:16:17I'm smiling because you're having a go at me, but I'm interested
0:16:17 > 0:16:18to know what you think?
0:16:18 > 0:16:20I'm armed with a baguette.
0:16:20 > 0:16:21So I'm not having a go at you.
0:16:21 > 0:16:22OK?
0:16:22 > 0:16:24Have you told the taxman that you control that company?
0:16:24 > 0:16:26I have already made my position clear.
0:16:27 > 0:16:28Now have a good day.
0:16:28 > 0:16:31Mr Hague's lawyer later told us he had always acted within the law
0:16:31 > 0:16:35and his arrangements were a matter for his advisers and HMRC.
0:16:35 > 0:16:40He's made his position clear, he says.
0:16:40 > 0:16:43Not to me, I have to say.
0:16:43 > 0:16:47We still think that's a man who controls an offshore interest,
0:16:47 > 0:16:51but pretends that he doesn't.
0:16:53 > 0:16:56Mossack Fonseca say the services they provide are "commonly used
0:16:57 > 0:17:02worldwide" and they are "responsible members of the global financial
0:17:02 > 0:17:05and business community".
0:17:06 > 0:17:08They "strongly disagree" that their primary function
0:17:09 > 0:17:13is to facilitate tax avoidance and evasion.
0:17:19 > 0:17:22But dig around in the files and it's clear that a lot of their business
0:17:23 > 0:17:25is about tax.
0:17:26 > 0:17:28This memo gives the game away.
0:17:28 > 0:17:33It was written by one of the partners of Mossack Fonseca
0:17:33 > 0:17:37and it says in Spanish that "95% of our work consists in selling
0:17:37 > 0:17:41vehicles to avoid taxes."
0:17:48 > 0:17:51The Prime Minister's late father was one of those who used
0:17:52 > 0:17:56Mossack Fonseca's services.
0:17:56 > 0:18:00The files show Ian Cameron helped set up a company in Panama.
0:18:03 > 0:18:06They wanted to attract investors to put their money in a fund
0:18:06 > 0:18:11so they made sure it never paid UK tax.
0:18:14 > 0:18:18Mr Cameron and other directors would fly to the Bahamas for board
0:18:18 > 0:18:24meetings so they could say the company was run offshore.
0:18:24 > 0:18:26But there is more. the company was run offshore.
0:18:27 > 0:18:30The Mossack Fonseca files reveal investors held their stake
0:18:30 > 0:18:33through bearer shares.
0:18:33 > 0:18:36Now they were used widely at the time, but are now banned
0:18:36 > 0:18:39in many countries because they can be used for money laundering
0:18:40 > 0:18:43and tax evasion.
0:18:44 > 0:18:47A bearer share is a piece of paper saying that you own a share
0:18:48 > 0:18:53of a company.
0:18:53 > 0:18:58paper, which means you can hide your ownership of bearer shares.
0:18:58 > 0:19:00And when it comes to declaring what assets, what wealth you have,
0:19:01 > 0:19:14what income you have, it really leaves it just
0:19:16 > 0:19:20The Prime Minister has been demanding greater transparency
0:19:23 > 0:19:32So that's why we need to shine a spotlight on who owns
0:19:32 > 0:19:37going to go ahead, but it's also going to be open to the public.
0:19:37 > 0:19:40He's introducing a register of beneficial owners that will list
0:19:41 > 0:19:46the ultimate owners of UK companies.
0:19:46 > 0:19:49But we have discovered that Mossack Fonseca is prepared to help
0:19:49 > 0:19:53clients get around even such in-depth checks.
0:19:56 > 0:19:59This is Marianna Olszewski.
0:20:00 > 0:20:02I wanted to earn enough money so I can create the life
0:20:02 > 0:20:04I really wanted to.
0:20:04 > 0:20:05And I did.
0:20:06 > 0:20:09She's a business guru and life coach.
0:20:09 > 0:20:12It's all about living the life of your dreams and taking control
0:20:13 > 0:20:14of your money.
0:20:17 > 0:20:20And taking control is what she wanted to do.
0:20:20 > 0:20:25The files show she had $1.8 million secretly invested offshore.
0:20:26 > 0:20:29She wanted to get her money back.
0:20:29 > 0:20:32But the bank wouldn't release her funds until they knew
0:20:32 > 0:20:35the identity of the beneficial owner.
0:20:36 > 0:20:39One way to become aware of how much money you really have and how much
0:20:39 > 0:20:43you're spending is to keep track of it in what I call a money diary.
0:20:44 > 0:20:49She was desperate not to be named,
0:20:54 > 0:20:57to pretend to be the owner of the cash.
0:20:57 > 0:21:01"We may use a natural person who will act as the beneficial owner
0:21:01 > 0:21:05and therefore his name will be disclosed to the bank.
0:21:05 > 0:21:11Since this is a very sensitive matter, fees are quite high."
0:21:12 > 0:21:16It's highly problematic if a company is providing fake beneficial
0:21:17 > 0:21:20ownership information to a bank and undermines the credibility
0:21:20 > 0:21:24of our anti-money laundering system that's designed to deter tax
0:21:24 > 0:21:28evasion, corruption and money laundering.
0:21:29 > 0:21:33It's a blatant breach of anti-money laundering rules,
0:21:33 > 0:21:36but Ms Olszewski signed up.
0:21:38 > 0:21:41When a company like Mossack Fonseca offers fake beneficial owner
0:21:41 > 0:21:44services, that is completely undermining all international
0:21:44 > 0:21:48efforts to open up company ownership.
0:21:49 > 0:21:53Then you completely pull the rug out from under the whole system.
0:21:55 > 0:21:58Ms Olszewski didn't respond to our questions.
0:22:00 > 0:22:04Mossack Fonseca say allegations that they provide shareholders
0:22:04 > 0:22:08with structures to hide the identity of the real owners are completely
0:22:09 > 0:22:11unsupported and false.
0:22:12 > 0:22:14They conduct "thorough due diligence" and have "always complied
0:22:15 > 0:22:19with international protocols" to ensure companies are not used
0:22:19 > 0:22:22for illicit purposes.
0:22:23 > 0:22:27It is true that not everyone in the files is up to no good.
0:22:27 > 0:22:32But they are full of examples of how Mossack Fonseca's services allow
0:22:32 > 0:22:34the wealthy to lie.
0:22:36 > 0:22:40Even on deals paid for by you and me.
0:22:43 > 0:22:47Chris Hudson helped finance an NHS hospital.
0:22:52 > 0:22:56But the files show he moved money from the project to a secretive
0:22:56 > 0:22:59Panamanian Foundation.
0:23:00 > 0:23:02I called him to ask why.
0:23:04 > 0:23:04Hi.
0:23:04 > 0:23:05Is that Chris Hudson?
0:23:05 > 0:23:06It is, yes.
0:23:06 > 0:23:07Hi, Chris.
0:23:08 > 0:23:10The Yarrow Foundation is so secretive, even Mr Hudson
0:23:10 > 0:23:13doesn't seem to know much about it.
0:23:13 > 0:23:14Is Yarrow anything to do with you?
0:23:15 > 0:23:16It was.
0:23:16 > 0:23:18I don't think it's even functioning anymore, is it?
0:23:18 > 0:23:20What's your relationship with Yarrow then?
0:23:20 > 0:23:21I don't have one.
0:23:21 > 0:23:24Did you ever have a foundation in Panama?
0:23:24 > 0:23:26Did I? No.
0:23:27 > 0:23:29You didn't have that? No.
0:23:30 > 0:23:34But the Mossack Fonseca documents paint a different picture.
0:23:34 > 0:23:39He was the principal beneficiary, the money was his.
0:23:44 > 0:23:47Has Yarrow ever paid any money into your UK bank accounts?
0:23:47 > 0:23:48You just asked me that.
0:23:49 > 0:23:50Yeah, and what did you say?
0:23:50 > 0:23:52I said no.
0:23:53 > 0:23:55But it did.
0:23:55 > 0:23:57Here's the proof.
0:23:58 > 0:24:03This is Mr Hudson instructing Yarrow to pay 85,000 euros
0:24:03 > 0:24:06into his London account.
0:24:07 > 0:24:11He even used the Foundation to make a down payment on a jumbo jet
0:24:11 > 0:24:14for a business venture.
0:24:15 > 0:24:19But in a letter to us he lied about that as well.
0:24:20 > 0:24:23"The idea that a Panamanian entity has been or indeed could be used
0:24:24 > 0:24:27to buy a 747 is fanciful in the extreme."
0:24:31 > 0:24:33But here's the proof.
0:24:33 > 0:24:39This is what a down payment for a 747 looks like.
0:24:40 > 0:24:43Mr Hudson said to me the Yarrow Foundation,
0:24:43 > 0:24:45he didn't set it up and it was nothing much
0:24:45 > 0:24:46to do with him.
0:24:46 > 0:24:48The document here contradicts that.
0:24:48 > 0:24:50It seems to be very much to do with him.
0:24:51 > 0:24:53So, why does this matter?
0:24:53 > 0:24:56Well, we think the Foundation has been set up to help
0:24:56 > 0:24:58Mr Hudson avoid tax.
0:24:59 > 0:25:01But the secrecy stops us knowing for sure.
0:25:01 > 0:25:05Secrecy stops everyone knowing.
0:25:06 > 0:25:10I think it's time for a word with Mr Hudson.
0:25:10 > 0:25:13He has consistently misled us about the Yarrow Foundation.
0:25:13 > 0:25:15He says it's nothing to do with him.
0:25:16 > 0:25:23And we're pretty sure that it is.
0:25:24 > 0:25:25Mr Hudson. Hi.
0:25:25 > 0:25:27It's Richard Bilton from Panorama.
0:25:27 > 0:25:28Can I grab a quick word with you?
0:25:29 > 0:25:30Why did you tell me that the Yarrow Foundation
0:25:30 > 0:25:31was nothing to do with you, sir?
0:25:32 > 0:25:33Ah, he's gone inside.
0:25:33 > 0:25:34That's a shame.
0:25:34 > 0:25:35Sir, you just saw me and I know you are in there.
0:25:36 > 0:25:37Why don't you just answer my questions?
0:25:37 > 0:25:39I've got notes that says you're the principle beneficiary,
0:25:39 > 0:25:42that you were asking them to send money.
0:25:42 > 0:25:43You're just there.
0:25:43 > 0:25:45Why don't you answer the questions, sir?
0:25:46 > 0:25:47I don't think...
0:25:48 > 0:25:49Sir, would you tell me why you told me
0:25:49 > 0:25:50a lie about the Yarrow Foundation?
0:25:50 > 0:25:52I can't hear you now.
0:25:52 > 0:25:53Sir, would you just tell me that?
0:25:53 > 0:25:54Er, I'd be very, very grateful.
0:25:54 > 0:25:55Why don't you just answer the question?
0:25:55 > 0:25:56This is your chance, sir.
0:25:56 > 0:25:57I've told you.
0:25:57 > 0:25:58It's a bit rich, isn't it?
0:25:58 > 0:26:01You were getting money from the taxpayer for the hospital.
0:26:02 > 0:26:04Whaaaay!
0:26:04 > 0:26:07Is that the way you answer, sir, by driving a car at me?
0:26:07 > 0:26:08I asked you straightforward questions about the Yarrow
0:26:09 > 0:26:11Foundation and you told me that it was nothing to do
0:26:11 > 0:26:14with you and you are the principle beneficiary, sir.
0:26:14 > 0:26:18Anything to say?
0:26:19 > 0:26:20I told you.
0:26:21 > 0:26:24I could prove to you that there's no tax been avoided and you've refused
0:26:24 > 0:26:25to do that.
0:26:25 > 0:26:27You told me a lie.
0:26:27 > 0:26:30Mr Hudson did offer to show us he'd done nothing wrong,
0:26:31 > 0:26:33but only in a meeting we couldn't report.
0:26:34 > 0:26:37So we asked him to provide his evidence openly.
0:26:37 > 0:26:39He hasn't done so.
0:26:41 > 0:26:42Blimey.
0:26:42 > 0:26:44He wasn't keen to answer our questions.
0:26:45 > 0:26:48I haven't had a car driven at me for a while.
0:26:49 > 0:26:50The thing is, he was pretty straightforward and said
0:26:51 > 0:26:52the Yarrow Foundation was nothing to do with him.
0:26:53 > 0:26:55He's the principal beneficiary.
0:27:03 > 0:27:06Mossack Fonseca say that for 40 years they've "operated
0:27:07 > 0:27:11beyond reproach" and have "never been accused or charged
0:27:11 > 0:27:14in connection with criminal wrongdoing."
0:27:15 > 0:27:18They say they have a "strong compliance record," their services
0:27:18 > 0:27:21are "regulated on multiple levels" and are used "for
0:27:22 > 0:27:26a variety of legitimate reasons".
0:27:33 > 0:27:37But the leaked documents tell a rather different story.
0:27:40 > 0:27:45The Mossack Fonseca files reveal how the rich and powerful use tax havens
0:27:46 > 0:27:49to hide their secrets.
0:27:50 > 0:27:53What this shows is that you can't rely on tax havens and the people
0:27:53 > 0:27:56who operate there to open up ? they won't, they'll carry
0:27:56 > 0:28:00on concealing as long as they can operate.
0:28:00 > 0:28:03What you need is to shut down the tax haven models.
0:28:04 > 0:28:07It's really time that the world didn't have tax havens.
0:28:13 > 0:28:18As long as places like Panama are allowed to sell secrecy,
0:28:18 > 0:28:21wealthy people will want to buy it.
0:28:21 > 0:28:25And governments that promise fair taxes whether you're rich or poor
0:28:25 > 0:28:29may find it impossible to deliver.