{"id":19414,"date":"2017-03-28T14:56:04","date_gmt":"2017-03-28T19:56:04","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=19414"},"modified":"2017-03-28T14:56:04","modified_gmt":"2017-03-28T19:56:04","slug":"share-panama-claims-solid-case-mossack-fonseca","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/share-panama-claims-solid-case-mossack-fonseca\/","title":{"rendered":"Share Panama claims ‘solid case’ against Mossack Fonseca"},"content":{"rendered":"

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R\u00f3mulo Bethancourt, one of Panama\u2019s organized crime prosecutors, gives a press conference. Image: Ministerio Publico de Panama<\/p>\n

Mossack Fonseca, the law firm at the heart of the Panama Papers<\/a> affair, sold shell companies and held bank accounts that were used to help conceal bribes paid across South America, a Panamanian prosecutor alleged at a press conference<\/a> on Thursday.<\/p>\n

R\u00f3mulo Bethancourt, one of Panama\u2019s organized crime prosecutors, is currently investigating Mossack Fonseca\u2019s alleged role in an international corruption probe. The investigation, known as Lava Jato, is tracing dozens of companies that allegedly paid bribes to politicians and officials in Brazil in exchange for contracts with the state-owned oil company.<\/p>\n

\u201cWe have a solid case,\u201d Bethancourt said about his agency\u2019s investigation of Mossack Fonseca, which began earlier this year. A separate investigation is ongoing into Mossack Fonseca and the Panama Papers.<\/p>\n

Bethancourt told reporters that his office had identified two bank accounts in Panama that received \u201cirregular\u201d payments that were linked to Mossack Fonseca\u2019s office in the Brazil.<\/p>\n

Mossack Fonseca\u2019s founders, J\u00fcrgen Mossack and Ram\u00f3n Fonseca, have been detained since February in relation to the Lava Jato probe.<\/p>\n

Mossack Fonseca\u2019s Brazil operation \u201coffered financial products aimed at hiding money that entered the Panamanian financial system,\u201d Bethancourt said.<\/p>\n

In response, lawyers for Mossack and Fonseca held their own press conference on Friday morning to respond to the prosecutor\u2019s allegations.<\/p>\n

The men\u2019s lawyer, Guillermina MacDonald, said that the bank accounts mentioned by the prosecutor received legitimate administrative fees that were in no way illegal.<\/p>\n

The bank accounts were closed after the release of the Panama Papers investigation by ICIJ and its media partners, MacDonald said. Contrary to the prosecutor\u2019s claim, MacDonald said, the closing of the accounts was not due to the Lava Jato investigation.<\/p>\n

Fonseca, Mossack and a third employee of the firm, Edison Teano, have been detained since Feb. 9. Mossack Fonseca\u2019s former representative in Brazil, Maria Mercedes Riano, also remains in detention in Panama City.<\/p>\n

Earlier this month, lawyers petitioned for the release of Mossack and Fonseca, insisting that their detention was unlawful. Panama\u2019s criminal court has refused bail for the pair, citing the risk of flight and destruction of evidence.<\/p>\n

Almost one year after it was first published, the Panama Papers data continues to be used by ICIJ partners in ongoing investigations, and to produce impact around the world. Among recent findings and responses:<\/p>\n