Friday, May 27, 2016

 

Panama Papers law firm closes Jersey, Gibraltar offices

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 has had a presence in these locations for more than 20 years," the Panama-based law firm added.

The office closures were part of a strategy to "consolidate our service office network," it said.

The announcement came nearly eight weeks after the first reports about the Panama Papers emerged, divulging details taken from nearly four decades of records from Mossack Fonseca's computer archives.

They revealed that many prominent leaders, politicians, celebrities and wealthy individuals around the world used Mossack Fonseca to start up or run offshore entities to hold their assets.
Although offshore companies are not in themselves illegal, the sudden publication of the information drew attention to possible tax avoidance and money laundering crimes in some cases, and embarrassed some figures trying to keep their finances secret.

News of the closure of Mossack Fonseca's offices in Jersey and Isle of Man -- two Crown dependencies of Britain -- and Gibraltar -- a British overseas territory jutting off from Spain -- was reported earlier this week by local media in those territories and the BBC.
The law firm in Panama did not confirm the information on Thursday when contacted by AFP.

While its tweets Friday said those closures were happening, they made no mention of another report circulating this week in US media, about Mossack Fonseca's affiliate in the state of Nevada resigning as the agent for 1,000 companies it administered there.

Tags : ,

Share

Social

The idea behind the text.
Respect for the truth is almost the basis of all morality.
Nothing can come from nothing.



Follow

Popular Topics

Read

Well, the way they make shows is, they make one show. That show's called a pilot. Then they show that show to the people who make shows, and on the strength of that one show they decide if they're going to make more shows.

Like you, I used to think the world was this great place where everybody lived by the same standards I did, then some kid with a nail showed me I was living in his world, a world where chaos rules not order, a world where righteousness is not rewarded. That's Cesar's world, and if you're not willing to play by his rules, then you're gonna have to pay the price.

You think water moves fast? You should see ice. It moves like it has a mind. Like it knows it killed the world once and got a taste for murder. After the avalanche, it took us a week to climb out. Now, I don't know exactly when we turned on each other, but I know that seven of us survived the slide... and only five made it out. Now we took an oath, that I'm breaking now. We said we'd say it was the snow that killed the other two, but it wasn't. Nature is lethal but it doesn't hold a candle to man.

You see? It's curious. Ted did figure it out - time travel. And when we get back, we gonna tell everyone. How it's possible, how it's done, what the dangers are. But then why fifty years in the future when the spacecraft encounters a black hole does the computer call it an 'unknown entry event'? Why don't they know? If they don't know, that means we never told anyone. And if we never told anyone it means we never made it back. Hence we die down here. Just as a matter of deductive logic.