Americans show up in the Panama Papers, too

No politicians of note are in files but plenty of others

Among them: Retirees, scammers, and tax evaders

All find a use for secrecy of offshore companies

(From McClatchy DC)

mossackGiven the high-profile nature of some of the foreign names in the leaks – close associates of Russian President Vladimir Putin were seen moving more than $2 billion through shell companies – many of the Americans may seem like small fish.

In four separate cases, the law firm Mossack Fonseca helped register offshore companies for Americans who are now either accused or convicted by federal prosecutors of serious financial crimes, including securities fraud and running a Ponzi scheme.

In some cases, the shell companies created through the Panamanian law firm were part of fraudulent activities. In others, it’s not clear. That’s the purpose of shell companies, after all, to shelter money or assets. Read more

 

 



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