NairaPark
News | Jobs | Classifieds | SMS | Forum | Connect
Complete Bulk SMS Reseller Website for N16,000 ONLY!
 
 
 




 
 




 
 
 
 

Panama Papers: Mossack Fonseca closes 39 international offices, sacks staff

 
 
Nigerian News Update » Nigerian Newspapers
Punch Newspaper
 
Mossack Fonseca, the law firm linked to the Panama Papers scandal, has had to close most of its international offices due to a slump in business, company officials said Wednesday.

Jürgen Mossack, one of its founders, told a briefing that the firm had been forced to close 39 of its international offices as a result of the scandal.

“We had about 45 offices abroad. Now there are about six left,” he said while insisting the Panama headquarters was not expecting to close.

A trove of 11.5 million digital records from the Panamanian law firm revealed how many of the world’s wealthy used offshore companies to stash assets.

Perpetrators ranged from simple businessmen to head of states and sports stars.

The data were leaked to a German newspaper, Sueddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ), and reports appeared in major media from April 3, 2016.

Among those cited are former British Prime Minister David Cameron, Argentina’s football star Lionel Messi, Argentina’s President Mauricio Macri, Spanish film director Pedro Almodovar and Hong Kong’s film star Jackie Chan — but also more than 140 politicians and public officials.

Mossack acknowledged that the firm’s credibility had taken a big toll on its bottom line.

“We have had to fire staff,” he said.

In the year since the scandal erupted, at least 150 inquiries or investigations have been launched in more than 70 countries, with authorities examining many cases for possible tax evasion or money laundering, according to the Center for Public Integrity, a US non-profit group that until February hosted the now-independent ICIJ.

In June, the OECD published a new blacklist of countries not cooperating against tax evasion, on which only Trinidad and Tobago, a small Caribbean country, figures.

AFP
 
 
 
 
 
 
Be the first to comment:
 
 
 
Male: Female:
 
Get a Website for your Business at N20k Only! Domain Registration and Web Hosting, absolutely Free! Click here to send your Website Content or Whatsapp 08160266850 for any enquiry.
 
 
 
You might also like:
 
Police dismiss cop who shot FRSC officers in Abia

The Commissioner of Police in Abia State, Mr. Adeleye Oyebade, has said the Nigeria Police Force has dismissed Corporal Iroh Orji who shot two...

Can Nigeria afford one more bloodshed?

n the words of Martin Luther King Jnr., “We must learn to live together as brothers, or we will perish together as fools.” Fifty years after...

APC, PDP lack internal democracy – Atiku

Former Vice-President, Atiku Abubakar, has decried the lack of internal democracy among the nation’s political parties especially the ruling All...