Mossack Fonseca law firm to shut down after Panama Papers tax scandal
Source: The Guardian and agencies
A Panamanian law firm at the center of the Panama Papers scandal has announced it is shutting down.
The directors of Mossack Fonseca blamed the economic and reputational damage inflicted by its role in the global tax evasion debacle for the closure.
Leaked files from the company were the basis of the Panama Papers investigation in early 2016, provoking a global scandal after showing how the rich and powerful used offshore corporations to evade taxes.
“The reputational deterioration, the media campaign, the financial circus and the unusual actions by certain Panamanian authorities, have occasioned an irreversible damage that necessitates the obligatory ceasing of public operations at the end of the current month,” the firm said in a statement on Wednesday.
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Nicola Slawson and agencies
Wed 14 Mar 2018 21.35 GMT
Read more: https://www.theguardian.com/world/2018/mar/14/mossack-fonseca-shut-down-panama-papers