PANAMANIAN COURT RULES AGAINST MOSSACK AND FONSECA IN THEIR MONEY LAUNDERING CASES

PANAMANIAN COURT RULES AGAINST MOSSACK AND FONSECA IN THEIR MONEY LAUNDERING CASES

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A criminal court judge in the Republic of Panama has entered two adverse rulings against attorneys from the law firm of Mossack and Fonseca, in the money laundering cases pending against him. The law firm, whose name has become synonymous with dodgy bearer-share corporations, international corruption and the facilitation of massive tax evasion, was outed by the disclosures contained in the so-called Panama Papers scandal, and its partners face long prison terms for facilitating money laundering, on a global scale.

MOSSACK & FONSECA


First, the Court has denied the motion to dismiss all charges, filed on behalf of Mossack attorney María Mercedes Riaño. She was affiliated with the Mossack Brazil office.

Second, the Court denied a motion, filed by Panama attorney Guillermina McDonald, on behalf of Mossack name partners, Jurgen Mossack and Raul Fonseca Mora, to consolidate the two pending money laundering cases filed against them. Those two cases arose out of the Panama Papers disclosures, and the Brazilian Lava Jato (Car Wash) corruption case. The Court found that the facts in the two cases were completely different, and therefore, consolidation was not permitted.

Anti-corruption prosecutors in Panama are zealously pursuing evidence in the case; They have requested judicial assistance from the governments of Uruguay, Ecuador,  Colombia, the Ukraine, Switzerland, and the United States.

Chronicles of Monte Friesner - Financial Crime Analyst

Contributed by Kenneth Rijock - Financial Crime Consultant