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Wednesday, April 6, 2016

Panama Papers - Panama to launch criminal probe of ‘Panama Papers’


The state prosecutor’s office in Panama has said it will launch an investigation into revelations contained in a massive data leak of a law firm that created offshore companies for the world’s rich and powerful.

“The facts described in national and international communication media publications under the term 'Panama Papers’ will be the subject of criminal investigation,” the office said in a statement on Monday April 04,2016

The probe will aim to establish what crimes might have taken place and who committed them, as well as identifying possible financial damages, it said.

Panama’s president, Juan Carlos Varela said his country would cooperate with “whatever government and whatever investigation” resulted from the scandal.

But he also vowed to “defend the image of our country,” which had been making progress in trying to lose a reputation as a hub for money laundering and other shady transactions.

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