Panama court acquits more than two dozen people linked to the “Panama Papers” scandal, according to France 24.
The trial comes eight years after the International Consortium of Investigative Journalists (ICIJ) began publishing the “Panama Papers” on 3 April 2016. The investigation revealed how individuals from around the world hid real estate, companies, assets and profits to evade taxes or launder money.
The Panamanian court on Friday acquitted 28 people charged with money laundering in connection with the “Panama Papers” tax evasion scandal of the now infamous Mossack Fonseca law firm. Among those acquitted were firm founders Jurgen Mossack and Ramon Fonseca, the latter of whom died in May.
Truly there has been a great injustice that has been done. Both my partner and all the people who have worked with me have been serious, honest and correct people, Mossack said after the conclusion of the hearing.
During the trial, which took place in Panama City in April, the prosecution had requested a maximum sentence of 12 years in prison for the duo for money laundering. However, Judge Baloisa Marquinez acquitted the two and 26 others after finding evidence drawn from the law firm’s servers lacked due process, raising doubts about its “authenticity and credibility.”
“The rest of the evidence was not sufficient and conclusive to determine the criminal responsibility of the defendants,” said the court.
Leaked documents from Mossack Fonseca in 2016 revealed how many of the world’s richest people kept assets in offshore companies, prompting multiple investigations around the world. Those implicated included former British Prime Minister David Cameron, Russian President Vladimir Putin, football star Lionel Messi, then Argentine President Mauricio Macri and Spanish film director Pedro Almodovar, among others.
Mossack and Fonseca facilitated opaque companies in which executives of German multinational Siemens deposited millions of euros outside the company’s official accounts, Panama prosecutors said. They also faced charges of helping divert money from a massive fraud in Argentina.
Justice has been done, we are extremely satisfied with the ruling handed down by the judge. we are a little sad because along the way we lost Mr Ramon Fonseca, and he has not been able to see this result, Guillermina McDonald, lawyer for Mossack and the other defendants, said after the trial.
