▲
▼

Welcome to NairaPark (NP)

It's possible to achieve your sales target through NairaPark. Learn How »

Don't miss Daily Updates

 
Name:
 
Email:
 
Mobile:

 
Keep me posted

Member Login

 
Lost your password?
 

NairaPark Statistics

45,100 Members    |    173 Online
Sunday, December 17, 2017.

Not a Member? Sign Up!

 Male  Female  Terms
 
Nigerian News » Politics
 
 
 
 

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


 
Posted 4 months, 2 wks ago
 
 
 
 
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
 
 
 
 
 
 
You might also like:
 
UPDATED: Appeal Court orders Saraki to face trial on three charges

The Abuja Division of the Court of Appeal on Tuesday nullified the acquittal ruling of the Code of Conduct Tribunal handed down in favour of Senate...

Appeal court’s verdict has vindicated me – Saraki

President of the Senate, Bukola Saraki, has said that he has been vindicated with the verdict of the Court of Appeal. The court had on Tuesday ruled...

Spanish court orders seizure of ex-Catalan leader’s home

Spain’s Court of Auditors ordered on Tuesday the seizure of former Catalan president Artur Mas’s home to cover costs generated by the nonbinding...

 
Outsourced Credit Control, Cash Flow, Debt Collection, Track and Trace, Loan Collection
 
 

 
 
 
 
Bulk SMS Widget
Type your message:
Schedule Message
image
 
 
Own an attractive Website along with Free Web Hosting, Domain Registration, Search Engine Submission and unlimited Email Accounts. Start Now »
 
73 Kobo Bulk SMS Service
1501803760
 
 
 
 
 
 
 
 
Signup on NairaPark NairaPark © 2010 - 2017 - All rights reserved. Signin to NairaPark
NairaPark © 2010 - 2017 - All rights reserved.

 
[x] Close

Not a Member? Sign Up!

 
 Male  Female  Terms
 

Already Registered? Sign In!

 
 

Forgot Password? Reset Now!