Ramón Fonseca, partner in firm at center of Panama Papers scandal, dies: Report
During the night, Fonseca "died, he was hospitalised", a member of his legal team told AFP, adding that the health episode was "why he did not attend the trial" which opened on April 8. Fonseca was among more than two dozen associates accused of helping some of the richest people across the world hide their wealth.
- May 9, 2024,
- Updated May 9, 2024 10:26 PM IST
Ramón Fonseca, a partner in the Mossack Fonseca law firm at the centre of the “Panama Papers” scandal over the hiding of wealth in offshore entities, has died, a lawyer from his firm confirmed on May 9, AFP reported. He was 71.
During the night, Fonseca "died, he was hospitalised", a member of his legal team told AFP, adding that the health episode was "why he did not attend the trial" which opened on April 8.
Fonseca was among more than two dozen associates accused of helping some of the richest people across the world hide their wealth. A verdict is still awaited.
The trial came eight years after the leak of 11 million financial documents that became known as the “Panama Papers."
The leak prompted the resignation of the Iceland PM and brought scrutiny to the then-leaders of Argentina and Ukraine, Chinese politicians, and Russian President Vladimir Putin, among others.
Panamanian prosecutors allege that Mossack, Fonseca and their associates created a web of shell companies that used complex transactions to hide money linked to illicit activities in the “car wash” corruption scandal of Brazilian construction giant Odebrecht, the Associated Press Reported.
Fonseca and others were charged with money laundering, which they denied.
Fonseca had said the firm, which closed in 2018, had no control over how its clients might use offshore vehicles created for them.
Mossack Fonseca helped create and sell around 240,000 shell companies across four decades in business. It announced its closure in March 2018, two years after the scandal erupted.
Fonseca had also served as a minister in Panamanian former President Juan Carlos Varela's government but stepped aside in 2016.
What are Panama Papers
The Panama Papers - a collection of 11 million financial documents - implicated more than a hundred politicians, including then-heads of state and government, billionaires and sports stars.
They also highlighted how tax havens like Panama and the British Virgin Islands were used by the rich and powerful to allegedly hide their wealth and avoid tax.
The records were first leaked to the German newspaper Suddeutsche Zeitung, and were shared with the International Consortium of Investigative Journalists in 2016.
Ramón Fonseca, a partner in the Mossack Fonseca law firm at the centre of the “Panama Papers” scandal over the hiding of wealth in offshore entities, has died, a lawyer from his firm confirmed on May 9, AFP reported. He was 71.
During the night, Fonseca "died, he was hospitalised", a member of his legal team told AFP, adding that the health episode was "why he did not attend the trial" which opened on April 8.
Fonseca was among more than two dozen associates accused of helping some of the richest people across the world hide their wealth. A verdict is still awaited.
The trial came eight years after the leak of 11 million financial documents that became known as the “Panama Papers."
The leak prompted the resignation of the Iceland PM and brought scrutiny to the then-leaders of Argentina and Ukraine, Chinese politicians, and Russian President Vladimir Putin, among others.
Panamanian prosecutors allege that Mossack, Fonseca and their associates created a web of shell companies that used complex transactions to hide money linked to illicit activities in the “car wash” corruption scandal of Brazilian construction giant Odebrecht, the Associated Press Reported.
Fonseca and others were charged with money laundering, which they denied.
Fonseca had said the firm, which closed in 2018, had no control over how its clients might use offshore vehicles created for them.
Mossack Fonseca helped create and sell around 240,000 shell companies across four decades in business. It announced its closure in March 2018, two years after the scandal erupted.
Fonseca had also served as a minister in Panamanian former President Juan Carlos Varela's government but stepped aside in 2016.
What are Panama Papers
The Panama Papers - a collection of 11 million financial documents - implicated more than a hundred politicians, including then-heads of state and government, billionaires and sports stars.
They also highlighted how tax havens like Panama and the British Virgin Islands were used by the rich and powerful to allegedly hide their wealth and avoid tax.
The records were first leaked to the German newspaper Suddeutsche Zeitung, and were shared with the International Consortium of Investigative Journalists in 2016.