Panama Papers law firm Mossack Fonseca to shut down after tax scandal [SuchTV] 15 Mar, 2018

The so-called Panama Papers, which consist of millions of documents stolen from Mossack Fonseca and leaked to the media in April 2016, provoked a global scandal after showing how the rich and powerful used offshore corporations to evade taxes.“The reputational deterioration, the media campaign, the financial circus and the unusual actions by certain Panamanian authorities, have occasioned an irreversible damage that necessitates the obligatory ceasing of public operations at the end of the current month,” the firm said in a statement.Mossack Fonseca said a skeleton staff would remain in order to comply with requests from authorities and other public and private groups.Nonetheless, the law firm said it would continue “fighting for justice,” adding it would continue to cooperate with authorities.Last month, Panamanian prosecutors raided the offices of Mossack Fonseca, seeking possible links to Brazilian engineering company Odebrecht. The Brazilian construction firm has admitted to bribing officials in Panama and other countries to obtain contracts in the region between 2010 and 2014.Ramon Fonseca, a partner at Mossack Fonseca, denied last month that his firm had a connection to Odebrecht, while accusing Panamanian President Juan Carlos Varela of directly receiving money from Odebrecht, Latin America’s largest engineering company.Varela has denied that he took any money from Odebrecht.

More News

India operationalises fully-loaded Tejas Squadron to counter 'assertive' China

27 May, 2020 The Nation

With the rise in presence of Chinese navy in the Indian Ocean Region, India has been developing its southern air base as most modern base, equipped wi ... Detail

COVID-19 cases in Russia cross 370,000

27 May, 2020 The Nation

The coronavirus cases in Russia crossed 370,000 on Wednesday, while recoveries continued to outnumber new infections for the second day in a row. Acco ... Detail

How Narendra Modi Failed The Coronavirus Pandemic Test..

27 May, 2020 AbbTakk

NEW DELHI: India is at receiving end due to the BJP-led government policies at the border with China, the pandemic outbreak and other major issues inc ... Detail

OIC's HR body welcomes UNSG' rejection of anti-Muslim bigotry in COVID-19

27 May, 2020 Radio Pakistan

The Organization of Islamic Cooperation's Independent Permanent Human Rights Commission has also welcomed United Nations Secretary-General Antonio Gut ... Detail

Pentagon’s deputy inspector general resigns

27 May, 2020 DailyTimes

The Defense Department’s deputy inspector general, Glenn Fine resigned on Tuesday more than a month after the US President Donald Trump administration ... Detail

Post Your Comments
Type your Comments / Review in the space below.
Name:
Email:
City:
Verify Code