Saturday, April 9th, 2016

Offices of Mossack Fonseca raided

Narada Desk | April 9, 2016 12:45 pm Print

Mossack Fonseca

Prosecutors in El Salvador have raided the offices of Mossack Fonseca, the Panamian law firm at the centre of the global data leak for allegedly facilitating people to open offices in tax havens, and siezed a large cache of documents and computers.

El Salvador Attorney General Douglas Melendez himself supervised the raid after noticing that the company had removed the sign board, his office said in a tweet. The employees, however, said that the board was removed since they were moving offices.

“A good amount of computer equipment was found inside the offices of Mossack Fonseca,” said the Attorney General’s office after the raids at their premises in Colonia Escalon, an area in the Central American country’s capital city, San Salvador.

Melendez later told the media that seven employees were queried and 20 computers had been seized, but no detention was made. “At this moment we cannot speak about any crime,” he said, adding the El Salvador office could have been helping in processing global information for the law firm.

An exposé by the International Consortium of Investigative Journalists (ICIJ) and over 100 global media organisations involving millions of leaked documents of Mossack Fonseca reveal how it allegedly facilitated the rich and the powerful to open offshore companies.

Those who have been named thus far include friends of Russian president Vladimir Putin, Chinese President Xi Jinping and Ukraine President Petro Poroshenko, relatives of Prime Ministers Nawaz Sharif of Pakistan and Iceland Prime Minister Sigmundur Davíð Gunnlaugsson, who has since stepped down.

Over 500 Indians are also said to have opened such accounts.

Following the exposé – Wiktionary, Finance Minister Arun Jaitley tasked a committee comprising officers from the Central Board of Direct Taxes’ Financial Intelligence Unit , the Foreign Tax and Tax Research Unit and Reserve Bank of India are probing the matter.

Jaitley has said every bit of the expose that pointed toward offshore companies set up by Indians will be probed and that people with illegal money stashed abroad “won’t get to sleep” at night now.

Prime Minister Narendra Modi has sought an interim report on the Panama exposé in 15 days.

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