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Huge Leak From the Panamanian Law Firm Mossack Fonseca!

Huge Leak From the Panamanian Law Firm Mossack Fonseca!

According to Forbes, the offshore planning world was set on fire this weekend with the news that 11 million documents were leaked from the Panamanian law firm Mossack Fonseca. According to a BBC article found.

They show how Mossack Fonseca has helped clients launder money, dodge sanctions and evade tax. The company says it has operated beyond reproach for 40 years and has never been charged with criminal wrong-doing.

The documents show links to 72 current or former heads of state in the data, including dictators accused of looting their own countries.

Gerard Ryle, director of the ICIJ, said the documents covered the day-to-day business at Mossack Fonseca over the past 40 years.

While the neither the BBC article, nor a more detailed series of articles from the International Consortium of International Journalists, reference any U.S. client;, U.S. persons will probably show up, given that Mossack Fonseca apparently maintained a branch in Las Vegas, Nevada, under the name of M.F. Company Services and Mossack Fonseca Company Services is currently attempting to fight a subpoena brought in the U.S. District Court for the District of Nevada seeking information on at least 123 companies that it created.

Do You Have Undeclared Income 
From A Foreign Company
Formed By Mossack Fonseca ?
 

 
 
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Read more at: Tax Times blog

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