Mossack Fonseca

Panama Papers law firm boss sees tax shelter boom in US

Panama City - Arab Today

The co-founder of the law firm at the center of the Panama Papers scandal says the fallout has set off a "thriving" boom in the creation of tax shelters in the United States. Juergen Mossack, who partnered with Ramon Fonseca to create the Panamanian firm Mossack Fonseca, said in a document obtained Thursday by AFP that after the Panama PapersRead more

Panama Papers boost tax battle, but no silver bullet

Paris - Arab Today

The Panama Papers have given ammunition to the fight against tax evasion, but much still needs to happen before the world's tax dodgers run out of places to hide money, experts say. The papers, published a year ago, linked some of the world's most powerful leaders, including Russian President Vladimir Putin and former British prime minister David Cameron, as wellRead more

Law firm at heart of Panama Papers a shadow of its former self

Panama City - AFP

Panama has a new tourist attraction: the building hosting the offices of the Mossack Fonseca law firm at the heart of the Panama Papers scandal. That is why, workers there say, the sign announcing the firm has been taken down from where it used to be outside the dark-tinted edifice in Panama City's modern banking district. Too many tourists wereRead more

Swiss-based IT worker at Panama Papers firm released

Geneva - AFP

A Swiss-based IT worker arrested earlier this month on suspicion of stealing documents from the law firm at the centre of the Panama Papers scandal was released from custody on Friday, his lawyer said. The identity of the man who worked at the Geneva offices of Mossack Fonseca has been withheld. His lawyer Thomas Barth told AFP he was "arrestedRead more

'Panama Papers' firm demands prosecution of suspect in Switzerland

Panama City - AFP

The law firm at the center of the "Panama Papers" scandal says it expects the prosecution of a worker from its Geneva office detained on suspicion of stealing company documents. Mossack Fonseca said in a statement from its Panama headquarters that it had lodged complaints in several jurisdictions against people believed to be "involved in the theft of information thatRead more

European parliament launches Panama Papers probe

Strasbourg - Arab Today

The European Parliament launched Wednesday a far-reaching probe into potential tax fraud in Europe revealed by the Panama Papers scandal. Over the next 12 months, MEP's will grill officials and executives over any connections to Mossack Fonseca, the Panama law firm that allegedly helped thousands of the world's richest and most powerful individuals create offshore shell companies that some apparentlyRead more

Panama Papers law firm closes Jersey, Gibraltar offices

Panama City - AFP

The law firm at the heart of the Panama Papers revelations is closing its offices in the British-dependent territories of Jersey, Isle of Man and Gibraltar, it Tweeted. Mossack Fonseca "will be ceasing operations" in those territories, "but we will continue serving all of our clients," it said. "This decision has been taken with great regret, as Mossack Fonseca hasRead more

Panama braces for online release of Panama Papers

Panama City - Arab Today

The Panama Papers scandal promises to deepen around the world on Monday when a journalists' group with access to the digital cache of documents is to put many of them online. The International Consortium of Investigative Journalists (ICIJ) is to release the documents in a searchable database at 1800 GMT on Monday accessible to the public at offshoreleaks.icij.org. The US-basedRead more

Panama Papers reveal Hong Kong's murky financial underbelly

Hong Kong - AFP

Jasmine Li was still a student when she opened her first offshore bank account through Mossack Fonseca Hong Kong, but the shady world she entered that day had been part of the city's underbelly for decades. The granddaughter of China's then fourth-ranked politician was among dozens named in a vast cache of documents leaked from the Panama law firm thatRead more