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(Panama Papers) Germany issues arrest warrants for founders of Panama Papers firm – report

A photo taken on April 7, 2016 in Munich, southern Germany, at the office of the German daily "Sueddeutsche Zeitung" shows several issues of the newspaper dated April 4, 2016, titling on the socalled "Panama Papers" with illustrations by German artist Peter M Hoffmann depicting heads of state. The Panama Papers are a massive leak of 11.5 million documents allegedly exposing the secret offshore dealings of aides to Russian president Vladimir Putin, world leaders and celebrities including Barcelona striker Lionel Messi. The vast stash of records was obtained from an anonymous source by German daily Sueddeutsche Zeitung and shared with media worldwide by the International Consortium of Investigative Journalists (ICIJ). / AFP PHOTO / CHRISTOF STACHE / RESTRICTED TO EDITORIAL USE - MANDATORY MENTION OF THE ARTIST UPON PUBLICATION - TO ILLUSTRATE THE EVENT AS SPECIFIED IN THE CAPTION

Oct 20, 2020, Agence France-Presse

BERLIN, Germany

Mossack Fonseca founders Juergen Mossack and Ramon Fonseca, suspected of tax evasion and associating with criminals, will be arrested if they enter the European Union, German newspaper Sueddeutsche Zeitung reports

Germany has issued international arrest warrants for the two founders of the firm at the center of the tax haven scandal exposed by the Panama Papers data leak, German media reported.

Mossack Fonseca founders Juergen Mossack and Ramon Fonseca, suspected of tax evasion and associating with criminals, will be arrested if they enter the European Union, German newspaper Sueddeutsche Zeitung reported late Monday, October 19.

The two men hold Panamanian passports and are currently in the Caribbean archipelago which does not have any extradition treaties, the newspaper said.

However investigators hope that Mossack, who has family in Germany, may surrender to officials in order to negotiate a reduced sentence and avoid US charges.

The Panama Papers

The Panama Papers, a massive data leak in April 2016, exposed widespread tax avoidance and evasion using complex structures of offshore shell companies and caused an international outcry.

At least 150 investigations have been opened in 79 countries to examine potential tax evasion or money laundering, according to the American Center for Public Integrity.

In 2018, Mossack Fonseca said it would close due to “irreparable damage” to its reputation. Panama’s government meanwhile continues to petition the international community to remove it from several tax haven blacklists. – Rappler.com

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