Bollywood is now being watched. It turns out, the Panama Papers revealed that many Bollywood actors have been moving their money to the Carribean in order to evade tax and restsrictions. Aishwarya Rai, probably the most recognizable Bollywood performer in the West, also has companies setup by Mossack Fonseca, the fourth largest law firm in Panama that specializes in these legal entities. Rai denies knowledge of these entities. Mossack Fonseca, if you recall, is the source of all of the Papers. Panamanian authorities, under pressure from.. the world, has raided the offices. The Firm also has office around the world and those are being investigated as well.
Indian Express Online has put together a very nice video explanation.
As of right now, it is hard to tell how much money has left India, but the Prime Minister has started an investigation with 50 people already on the list.
Marcus Maltempo is a Certified Anti-Money Laundering Specialist and a Certified Fraud Examiner with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses.