STOCK MARKET BSE NSE

Panama Raids Offices of Mossack Fonseca Law Firm

The law firm is at the centre of the \"Panama Papers\" leaks scandal that has embarrassed several world leaders.

Published: 13th April 2016 04:17 PM  |   Last Updated: 13th April 2016 04:17 PM   |  A+A-

2016-04-13T024043Z_1_LYNXNPEC3C02C_RTROPTP_4_PANAMA-TAX

The car of Panama's attorney general is seen parked outside the Mossack Fonseca law firm office in Panama City April 12, 2016. REUTERS

PANAMA CITY: Panama's attorney general late on Tuesday raided the offices of the Mossack Fonseca law firm to search for any evidence of illegal activities, authorities said in a statement.

The Panama-based law firm is at the centre of the "Panama Papers" leaks scandal that has embarrassed several world leaders and shone a spotlight on the shadowy world of offshore companies.

The national police, in an earlier statement, said they were searching for documentation that "would establish the possible use of the firm for illicit activities." The firm has been accused of tax evasion and fraud.

Police offers and patrol cars began gathering around the company's building in the afternoon under the command of prosecutor Javier Caravallo, who specializes in organized crime and money laundering.

Mossack Fonseca, which specializes in setting up offshore companies, did not respond to requests for comment on Tuesday.

Earlier, founding partner Ramon Fonseca said the company had broken no laws, destroyed no documents, and all its operations were legal.

Governments across the world have begun investigating possible financial wrongdoing by the rich and powerful after the leak of more than 11.5 million documents, dubbed the Panama Papers, from the law firm that span four decades.

The papers have revealed financial arrangements of prominent figures, including friends of Russian President Vladimir Putin, relatives of the prime ministers of Britain and Pakistan and of China's President Xi Jinping, and the president of Ukraine.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp