The case caused a stir internationally. Netflix even made a film out of it. Now all 28 defendants in Panama have been acquitted.
Eight years ago, the financial scandal surrounding the “Panama Papers” brought politicians, athletes and celebrities from all over the world into trouble. A Netflix film was even made about it – with Meryl Streep, Gary Oldman and Antonio Banderas in the leading roles. Now a court in Panama City has acquitted the 28 defendants who, according to the public prosecutor’s office in the Central American country, were behind the establishment of shell companies in tax havens – due to a lack of evidence.
Judge Baloísa Marquínez ruled that the allegations could not be sufficiently and conclusively substantiated. In addition, the chain of evidence was not traceable when evidence was collected on the servers of the now-defunct law firm Mossack Fonseca.
On Friday, Marquínez also ordered the termination of the criminal proceedings against Ramón Fonseca Mora, who died in May. There was also an acquittal in the related “Lava Jato” bribery scandal.
In the Panama Papers scandal, the defendants were accused of money laundering by setting up 215,000 shell companies in tax havens. The co-founder of the law firm, the German-born lawyer Jürgen Mossack, always denied the accusations.
Numerous politicians found themselves in trouble
In spring 2016, the “Süddeutsche Zeitung” and other media from the network of investigative journalists (ICIJ) exposed the business dealings of the letterbox companies founded in Panama. A huge data leak had given the newspaper access to 11.5 million documents. Almost 400 reporters from more than 80 countries took part in the research.
The names of 140 politicians and close confidants emerged. In Iceland, the publication of the documents led to the resignation of Prime Minister Sigmundur Gunnlaugsson. In Pakistan, Prime Minister Nawaz Sharif was removed from office.
The ICIJ received the highest award in US journalism, the Pulitzer Prize, for the revelations of the “Panama Papers” in 2017. The revelations triggered tax investigations in many countries and subsequently led to millions in additional tax revenues in Germany.
The law firm Mossack Fonseca was also accused of participating in a Brazilian corruption network. The “Lava Jato” scandal involved bribes when awarding construction projects. The focus was on the Brazilian construction company Odebrecht. The judge ruled that it had not been proven in this case that money from illegal Brazilian sources had flowed into the Panamanian financial system.
Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
