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<div id='article-page'><div id='article-content' data-media-url='//news-app-staging.s3.amazonaws.com' data-base-url='//news-app-staging.herokuapp.com' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/pan_audio.m4a' data-capture-url='//staging.analytics.lingraphica.com/events/capture_news' data-article-title='Panama Papers Show 200,000 Offshore Accounts' data-article-id='1519'><script src='//news-app-staging.herokuapp.com/javascripts/getscripts.js'></script><link rel='stylesheet' href='//news-app-staging.herokuapp.com/stylesheets/article.css' type='text/css' /><div class='article'><p><span data-start-time='0' data-end-time='11979'>The country of choice for secret offshore accounts opened by Panamanian lawyers is a small island nation, the British Virgin Islands.</span> <span data-start-time='11979' data-end-time='20458'>That information comes from a new report Monday by the International Consortium of Investigative Journalists. </span> <span data-start-time='20458' data-end-time='26167'>A consortium is a group of people who work together on a project.</span> <span data-start-time='26167' data-end-time='40583'>The consortium looked into documents that showed about 200,000 offshore businesses created for wealthy people by the Mossack Fonseca law firm in Panama.</span> <span data-start-time='40583' data-end-time='45313'>Some information was released last month. </span> <span data-start-time='45313' data-end-time='54750'>The documents, obtained from the law firm by a person known as “John Doe,” is called the “Panama Papers.” </span> <span data-start-time='54750' data-end-time='58333'>Panama is the home of Mossack Fonseca.</span> <span data-start-time='58333' data-end-time='64417'>John Doe is a name used by people who don’t want others to know who they are. </span> <span data-start-time='64417' data-end-time='69688'>Is is called an alias, or another name a person uses.</span> <span data-start-time='69688' data-end-time='79354'>The consortium said the Panamanian law firm set up shell companies, or companies for which there is very little information. </span> <span data-start-time='79354' data-end-time='83667'>There is very little business activity in a shell company. </span> <span data-start-time='83667' data-end-time='89146'>These were set up for wealthy people in countries to hide their money.</span> <span data-start-time='89146' data-end-time='98542'>More than 50 percent of the offshore businesses in the consortium’s large database were registered in the British Virgin Islands.</span> </p></div><div class='control-buttons-sticky' style='display:none;'><div class='control-buttons'><button title='Back' class='back' disabled='disabled'></button><button title='Play' class='play' disabled='disabled'></button><button title='Pause' class='pause' style='display:none;'></button><button title='Forward' class='forward' disabled='disabled'></button><button class='finished-reading' style='display:none;'>Done</button></div></div></div><div id='article-media'><div id='media-image'><img src='https://news-app-production.s3.amazonaws.com/articles/1041/pan_img.jpg'/></div></div><div id='question-content' style='display:none;'><div class='vocabulary_question question-container' data-question-id=6133 data-hint-location='0' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/what_does_offshore_mean.m4a'>What does offshore mean?</div><div class='choices' data-correct-choice='located or based in a foreign country'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/a_powerful_effect.m4a'><span>a powerful effect</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/located_or_based_in_a_foreign_country.m4a'><span>located or based in a foreign country</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/harmful_or_bad.m4a'><span>harmful or bad</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/a_chance_or_possibility.m4a'><span>a chance or possibility</span></div></div></div><div class='multiple_choice_question question-container' data-question-id=6134 data-hint-location='69688' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/what_type_of_companies_were_set_up_by_the_law_firm.m4a'>What type of companies were set up by the law firm?</div><div class='choices' data-correct-choice='shell companies'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/shell_companies.m4a'><span>shell companies</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/nonprofits.m4a'><span>nonprofits</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/startups.m4a'><span>startups</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/tech_companies.m4a'><span>tech companies</span></div></div></div><div class='sentence_completion_question question-container' data-question-id=6135 data-hint-location='83667' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/the_companies_are_used_by_wealthy_people_to__blank__their_money.m4a'>The companies are used by wealthy people to <span class='blank'>hide</span> their money.</div><div class='choices' data-correct-choice='hide'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/lose.m4a'><span>lose</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/invest.m4a'><span>invest</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/hide.m4a'><span>hide</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/1041/make.m4a'><span>make</span></div></div></div><div class='question-buttons'><button class='skip-button'></button><button class='hint-button'></button><button class='speak-button'></button></div></div></div>
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