Weekend publication of the so-called Panama Papers has added fuel to an already overheated corruption issue in Brazil. The papers were published by a consortium of international investigative reporters. They provide records of the registration of offshore shell corporations by thousands of politicians and their family members from countries around the world. In relation to Brazil, the papers allege that dozens of Brazilian politicians representing seven different political parties opened shell companies in Panama under their own names or in the names of family members. The alleged purpose of the registrations is to hide assets and avoid taxes. Among those named in the papers is Brazilian Chamber of Deputies Speaker Eduardo Cunha. Through a spokesman, Cunha denied having any foreign accounts or other holdings.
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