User Rating: 5 / 5
A classic tax fraud case, the object of which was to evade taxes, by making it appear that the profits of a Canadian company, generated abroad, had been sent to Canada, when it was an elaborate fiction, demonstrates that there was nothing that the law firm of Mossack and Fonseca would engage in, when it came to facilitating client criminal activity.
Tax treaties, between certain countries in South America, and Canada, provide that companies do not pay taxes upon their income, if taxes on those sums was being paid in Canada. A corrupt "tax consultant." created dummy contracts and false invoices, and even bogus records of wire transfers, ostensibly to Canada, but in truth and in fact, the money was wired to Mossack Fonseca, who followed client instructions, and sent the funds to Swiss accounts.
The only question I have is, why did it take the Government of Panama so long to finally arrest the Mossack partners ?
Chronicles of Monte Friesner
Contributed by Kenneth Rijock
