What is the massive document leak known as the paradise papers?

An enormous document leak of over 13 million files was revealed on Sunday, in what is being collectively referred to as the Paradise Papers. It’s one of the biggest data leaks in history, and involves the elaborate offshore assets of top politicians and corporations, as well as some of the world’s wealthiest individuals and celebrities.

Millions of the leaked files come from a single company, Appleby, which is based in Bermuda and offers offshore legal services. Appleby has denied any wrongdoing in relation to the findings from the documents.

The Paradise Papers closely resemble a document leak from last year known as the Panama Papers, which also detailed the offshore holdings and tax avoidance schemes of some of the world’s most powerful people.

RELATED: Wilbur Ross's time as Commerce Secretary

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Wilbur Ross's time as Commerce Secretary
Commerce Secretary Wilbur Ross speaks to the Economic Club of New York in New York City, U.S., October 25, 2017. REUTERS/Brendan McDermid
Commerce Secretary Wilbur Ross stands behind U.S. President Donald Trump, who speaks at the Minority Enterprise Development Week White House awards ceremony, at the White House in Washington, U.S., October 24, 2017. REUTERS/Kevin Lamarque
Commerce Secretary Wilbur Ross and Defense Secretary James Mattis listen as U.S. President Donald Trump meets with members of his cabinet at the White House in Washington, U.S., October 16, 2017. REUTERS/Kevin Lamarque
U.S. Commerce Secretary Wilbur Ross speaks next to U.S. Ambassador to China Terry Branstad during a bilateral meeting with Chinese Vice Premier Wang Yang at the Zhongnanhai Leadership Compound in Beijing, China, September 25, 2017. REUTERS/Andy Wong/Pool
U.S. Commerce Secretary Wilbur Ross shakes hands with Chinese Vice Premier Wang Yang before a bilateral meeting at the Zhongnanhai Leadership Compound in Beijing, China, September 25, 2017. REUTERS/Andy Wong/Pool
U.S. Commerce Secretary Wilbur Ross (3rd R) and Vice President Mike Pence (2nd R) join U.S. President Donald Trump (not pictured) for an event highlighting emerging technologies, in the East Room at the White House in Washington, U.S., June 22, 2017. REUTERS/Jonathan Ernst
U.S. Commerce Secretary Wilbur Ross testifies before a House Appropriations Subcommittee about the newly released 2018 budget on Capitol Hill in Washington, D.C., U.S., May 25, 2017. REUTERS/Aaron P. Bernstein
U.S. Commerce Secretary Wilbur Ross speaks next to Press Secretary Sean Spicer about new tariffs on Canadian softwood lumber from the White House in Washington, U.S. April 25, 2017.REUTERS/Yuri Gripas
U.S. Commerce Secretary Wilbur Ross is welcomed by Japan's Minister of Trade and Industry Hiroshige Seko at the start of their talks in Tokyo, Japan April 18, 2017. REUTERS/Issei Kato
U.S. Vice President Mike Pence (R) swears in Wilbur Ross as Secretary of Commerce as his wife Hilary watches, in Washington, DC, U.S. February 28, 2017. REUTERS/Joshua Roberts TPX IMAGES OF THE DAY
Wilbur Ross speaks, as U.S. Vice President Mike Pence watches, after being sworn in as Secretary of Commerce in Washington, DC, U.S. February 28, 2017. REUTERS/Joshua Roberts
Billionaire investor Wilbur Ross, chairman of Invesco Ltd subsidiary WL Ross & Co, departs Trump Tower after a meeting with U.S. President-elect Donald Trump in New York, U.S., November 29, 2016. Picture taken November 29, 2016. REUTERS/Lucas Jackson
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The Panama Papers caused a significant international fallout when they were released in April 2016, even leading to the resignation of Iceland’s prime minister amid protests and the surrounding controversy. The effects of this new Paradise Papers leak remain to be seen, but it has already put increased scrutiny on high-profile figures including U.S. Commerce Secretary Wilbur Ross and Queen Elizabeth II.

 

How Did This Happen?

A German newspaper called Süddeutsche Zeitung first obtained the leaked documents from an unnamed source, and then shared them with the International Consortium of Investigative Journalists when it became clear there was too much information for one organization to handle.

The ICIJ partnered with 96 media organizations across the world, including major outlets like the New York Times and the BBC, to give access to the leaked files for reporting purposes. HuffPost does not have access to the leaked documents, and cannot independently verify the information gleaned from the files.

 

What’s In The Leak?

The full extent of information contained in the leaked files is still unknown, but already a number of outlets have published articles based on the documents. 

So far, one of the most notable findings for U.S. politics is a report that President Donald Trump’s Commerce Secretary Wilbur Ross shares business interests with Russian President Vladimir Putin’s son-in-law. Ross previously failed to disclose the connection during his confirmation hearing earlier this year, according to NBC News.

A business associate of top White House adviser Jared Kushner is also named in the files, The Guardian reports. The documents show that two Kremlin-linked financial institutions invested significant funds into Twitter and Facebook, using companies controlled by Kushner associate Yuri Milner as a go-between to invest the money.   

Another revelation is that Queen Elizabeth II has around $13 million of her private funds invested in offshore holdings, according to the BBC. As with many aspects of offshore finance where loopholes in tax law are utilized, it appears there is nothing illegal about the Queen’s actions.

But the Paradise Papers’ records of offshore holdings do highlight the elaborate ways that the wealthy and powerful can utilize tax havens for their own benefit, and the convoluted framework of institutions and firms that are in place to aid them.

The Paradise Papers also include figures such as U2 lead singer Bono, Madonna and a top fundraiser for Canadian Prime Minister Justin Trudeau, who are all involved in the use of offshore holdings and questionable foreign companies.

This article originally appeared on HuffPost.

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