Mossack Fonseca has helped to create 240 shell companies

07:29 (today)
According to the Wall Street Journal, the company is considered a leader in this kind of business

Carlos Jasso / Reuters
  
   Moscow, April 6 – AIF-Moscow.
Panamanian law firm Mossack Fonseca had helped to create 240 thousand fictitious “shell companies”, writes the Wall Street Journal.

At the shore offshore. Who would benefit leakage “Panama” documents?
According to the publication, the company in such business (the creation of a network of front companies) considered a leader. In this direction, she began to work in 1986, when the German native Jurgen Mossack merged his firm with the company lawyer Ramon Fonseca. At that time they both studied and worked in London. They have great connections in the world of Panamanian politics. So, the article, Fonseca, until recently was a leading Advisor to the President Juan Carlos Varela and a high-ranking official of the ruling party of the country.
Mossack Fonseca was under the control of other States. For example, in late January of this year law enforcement bodies of Brazil raided the offices of the firm in são Paulo in connection with the corruption scandal surrounding Petrobras. Brazilian authorities believe that the Panamanian company opened an offshore company for two former executives of Petrobras.
It is also noted that in Panama the reaction to “the Panama document” is twofold. The country’s Prosecutor General has promised to investigate the work of Mossack Fonseca. At the same time, leading lawyers and bankers of the state called the incident a scandal attempt “to ruin the reputation of Panama as a center for offshore banking and financial services”.
Earlier, the international consortium of investigative journalist (ICIJ) published documents 11.5 mn with data on offshore accounts of several former and current world leaders. It was reported that publications based on leakage data from the Panama Mossack Fonseca company, providing legal support in registration of companies in offshore and based in Washington.

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