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Police raid law firm in Panama Papers tax evading scandal

Panama

<p>Police have raided Mossack Fonseca, the headquarters of the Panamanian law firm whose leaked “Panama Papers” revealed how the world’s wealthy and powerful used offshore companies to stash assets.</p> <p>Police with an organized crime unit carried out the raid at Mossack Fonseca “with no incident or interference,” prosecutors said in a statement, adding that searches would take place at the firm’s Panama City headquarters and its branches.</p> <blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr"><span class="caps">JUST</span> IN: <a href="https://twitter.com/hashtag/Panama?src=hash">#Panama</a> authorities raid HQ of Mossack Fonseca, law firm linked to <a href="https://twitter.com/hashtag/PanamaPapers?src=hash">#PanamaPapers</a> <a href="https://t.co/xqzAnycweP">https://t.co/xqzAnycweP</a> <a href="https://t.co/MhHdgHz9jd">pic.twitter.com/MhHdgHz9jd</a></p>— The Straits Times (@STcom) <a href="https://twitter.com/STcom/status/720057067755548674">April 13, 2016</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <p>The Panama Papers, centered on a huge cache of documents pilfered digitally from the Mossack Fonseca, has had repercussions around the world.</p> <p>Iceland’s Prime Minister was forced to resign after his name appeared as one of the beneficiaries of an offshore company. Britain’s Prime Minister has had to disclose his tax records.</p> <p>David Cameron’s image has taken a beating from the delay in revealing that he held shares in his late father’s offshore fund and received money from his parents that may have skirted inheritance tax.</p> <p>Russian President Vladimir Putin has sought to divert attention from his entourage by claiming it is all a US plot against him.</p> <p>China has been censoring online forums and media to try to prevent the names of relatives close to the leadership from circulating.</p> <p>And wealthy citizens in Australia, France, India, Mexico, Peru, Spain and elsewhere face probes over suspected tax avoidance after their names figured in some of the 11.5 million documents.</p>
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