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Agence France-Presse

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.
“We had about 45 offices abroad. Now there are about six left,” Jürgen Mossack, one of its founders told a briefing 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 Centre 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.


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Panama Papers

Panama Papers fallout: Mossack Fonseca law firm shuts dozens of offices after leak reveals how world’s wealthiest people stash their cash

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

Jackie Chan, well-known Hong Kong film star and China's CPPCC representative speaks at a press conference at the National People's Congress (NPC) media centre in Beijing on Mar. 07, 2017. 07MAR17 SCMP/Simon Song

Mossack Fonseca's co-founder, German Panama-based lawyer Jurgen Mossack. Photo: EPA

New Panama Papers revealed: Hong Kong superstar Jackie Chan’s offshore firms named in leaked tax documents

Jackie Chan has at least six companies managed by law firm Mossack Fonseca, according to documents. Photo: AP

The website of the Mossack Fonseca law firm is pictured in this illustration taken April 4, 2016. REUTERS/Reinhard Krause/Illustration

Hong Kong government sidesteps calls for action after revelations in Panama Papers 

Secretary for Financial Services and the Treasury Professor Chan Ka-keung says the authorities will investigate reports of suspicious transactions. Photo: Edward Wong

Panama Papers expose secret offshore firms of Vancouver developer Michael Ching, wanted by China for graft

A 1995 fax to Mossack Fonseca, the law firm at the centre of the Panama Papers leaks, confirms "Ching Mo Yeung" as one of four directors of Asia Charming Development Ltd, a secret investment firm set up in the tax haven of the British Virgin Islands. Ching has been identified by the SCMP as Vancouver developer Michael Ching Mo Yeung (right), wanted by China for corruption and hiding assets. Photo: ICIJ / SCMP Picture

Warning, low res image! This image may be republished, This graphic from the ICIJ's Offshore Leaks database depicts Ching Mo Yeung's co-ownership and directorship of now-defunct Ander Holdings Group Ltd. Photo: ICIJ

Warning, low res image! This image may be republished, A directorship list for Asia Charming Development Ltd identifies Ching Mo Yeung by his Hong Kong ID card number. The number matches that of Vancouver developer Michael Ching Mo Yeung, aka Cheng Muyang; that number was released by Chinese authorities as they pursued his arrest last year.

Warning, low res image! This image may be republished, Michael Ching Mo Yeung (circled) is shown at a 2013 fundraiser for Canada's now-Prime Minister Justin Trudeau (centre). At left is Ching's friend, former cabinet minister Raymond Chan. Photo: SCMP Picture

Warning, low res image! This image may be republished, Information released by Chinese authorities last year about corruption suspect Cheng Muyang, who is Vancouver developer Michael Ching Mo Yeung, includes his Hong Kong ID card number. Photo: Central Commission for Discipline Inspection

Mr Cheng Weigao, governor of Hebei Province, speaking in a conference to promote the province as a destination for investors. 02JUN92

A general view of Maylun Apartment at 23 Shu Kuk Street in North Point. 12MAY16 SCMP/Edmond So

Warning, low res image! This image may be republished, Ching Mo Yeung is listed as a director of Asia Charming Development Ltd in another document that is part of the Panama Papers trove of leaked financial information. Photo: ICIJ

Panama Papers source who leaked millions of documents breaks silence, denies being a spy, willing to work with law enforcement agencies

<p>In an 1,800 word manifesto published on the <i>SZ</i> website on Friday, the source, calling himself “John Doe”, praised others who have leaked secret and sensitive documents, such as Edward Snowden, who revealed details of the US government’s mass surveillance programme</p>

Members of the Construction Workers Union demonstrate outside Mossack Fonseca headquarters in Panama City on April 13, 2016. Protesters calling to "Lock up the crooks" demonstrated Wednesday outside the Panamanian law firm at the heart of the Panama Papers revelations and threw fake banknotes at the mirrored building. Dozens of people held up slogans against the firm, Mossack Fonseca, and the offshore companies it created for wealthy clients. / AFP PHOTO / Ed Grimaldo

A private security guard outside the headquarters of Mossack Fonseca firm, in Panama City, Panama. Photo: EPA

Prominent Hong Kong politicians and businessmen named in new round of Panama Papers leaks

Several prominent Hongkongers opened offshore firms with Mossack Fonseca, according to a new Panama Papers leak. Photos: Jonathan Wong, EPA

News

World

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
