The trial of 27 people charged in connection with the worldwide “Panama Papers” money laundering started Monday in a Panamanian criminal court. Those on trial include the owners of the Mossack-Fonseca law firm that was at the heart of the 2016 massive document leak. The Panama Papers include a collection of 11 million secret financial documents that illustrate how some of the world's richest people hide their money.
The case centers on allegations the firm set up shell companies to acquire properties in Panama with money from a sprawling corruption scheme in Brazil known as the Car Wash, or Lava Jato in Portuguese. Fonseca has said the firm, which closed in 2018, had no control over how its clients might use offshore vehicles created for them. Both Mossack and Fonseca have Panamanian citizenship, and Panama does not extradite its own citizens. The two were acquitted on other charges in 2022.
Source: Law Daily Report (lawdailyreport.net)
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