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Mossack Fonseca

Safdar rebuffs any connection with Avenfield properties

ISLAMABAD: Captain (retd) Muhammad Safdar has categorically denied any association with Avenfield properties in London during his testimony in an accountability court on Wednesday. On the second day of concluding his testimony in Avenfield case, Safdar declared himself unrelated to most of the questions asked by the court. “The letter submitted by Joint Investigation Team head Wajid Zia on July 3, 2017, and other by Mossack Fonseca dated June 22, 2012 as evidences against Sharif family cannot be made a part of court…

‘Panama Papers’ law firm shuts down operations

PANAMA CITY: The law firm at the heart of the "Panama Papers" global tax evasion scandal that brought down two world leaders announced on Wednesday it would shut down operations, citing negative press and what it called unwarranted action by authorities. "Reputational deterioration, the media campaign, the financial consequences and irregular actions by some Panamanian authorities have caused irreparable damage, resulting in the total ceasing of public operations at the end of this month," Mossack Fonseca said in a…

Panama Papers boost tax battle, but no silver bullet

PARIS: The Panama Papers have given ammunition to the fight against tax evasion, but much still needs to happen before the world's tax dodgers run out of places to hide money, experts say. The papers, published a year ago, linked some of the world's most powerful leaders, including Russian President Vladimir Putin and former British prime minister David Cameron, as well as sports stars and billionaires to unreported offshore companies. The leaking of the more than 11 million documents belonging to Panamanian law firm…

Panama suspends probe into ‘Panama Papers’

PANAMA CITY: Panama has suspended its probe into the Panama Papers, the leak of a legal firm's files on clients who stored assets in opaque offshore companies. The records from the Panamanian law firm Mossack Fonseca revealed the names of leaders, politicians, celebrities and wealthy individuals from around the world who used the firm to create offshore entities to hide their assets. A legal challenge on constitutional grounds required the suspension, the country's attorney general, Kenia Porcell, told a news…

PTI submits more documentary evidence ahead of ‘Panama Leaks Case’ hearing

ISLAMABAD: Pakistan Tehreek-i-Insaf (PTI) submitted additional documentary evidence on Tuesday as a new Justice Asif Saeed Khosa-led Supreme Court (SC) larger bench resumes the hearing of ‘Panama Leaks Case’ on January 4th. PTI’s counsel Naeem Bukhari submitted the documentary evidence at the top court on behalf of Imran Khan and his party. According to details, the documents include a letter sent to the Panamanian law firm Mossack Fonseca and an old interview of Prime Minister Nawaz Sharif given to a local new channel…

Iceland probes 108 named in Panama Papers

REYKJAVIK: Icelandic authorities said on Wednesday that 108 taxpayers whose names were in the "Panama Papers" had been targeted by an investigation for tax evasion. Directorate of Tax Investigations chief, Bryndis Kristjansdottir, said that of those, 31 had been discovered due to the documents which the Icelandic authorities bought from an anonymous source. Causing a political earthquake in Iceland, the Panama Papers, released in April, fuelled the resignation of Prime Minister Sigmundur David Gunnlaugsson and prompted…