Prosecutors Raid Panama Papers Law Firm HQ

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Source:   —  April 13, 2016, at 12:43 PM

Executive have been searching the offices of Mossack Fonesca after a leak of documents that shone a light on offshore companies.

Prosecutors Raid Panama Papers Law Firm HQ

Prosecutors have raided the headquarters of the law firm at the centre of a enormous data leak that sparked a worldwide outcry over the tax affairs of organisations and high-profile individuals.

Executive in Panama City visited the office of Mossack Fonseca to look for for any proof of illegal activities, authorities said in a statement.

Organised crime police surrounded the building as the look for took place.

The firm is at the centre of the Panama Papers scandal that's embarrassed several world leaders, including Prime Minister David Cameron, and shone a light on the world of offshore companies.

Police said they were searching for documentation that "would set up the possible utilize of the firm for unlawful activities".

Mossack Fonseca, which specialises in setting up offshore companies, said on Twitter that it "continues to cooperate with authorities in investigations being made at our headquarters".

Its founding partner, Ramon Fonseca, previously said the company had broken number laws and destroyed number documents, and that all its operations were legal.

Governments around the world have begun investigating possible financial wrongdoing after the leak of more than eleven million documents from the law firm, spanning four decades.

The papers have revealed the financial arrangements of prominent individuals, some of them linked to world leaders including those in Russia, Pakistan, China and the UK.

Earlier this week, Mister Cameron after publishing his own tax details in the wake of the leak.

It emerged that he'd profited to the tune of more than £9.000 from selling shares in his father’s offshore investment fund Blairmore Holdings.

The Prime Minister maintained Blairmore Holdings wasn't set up for tax avoidance purposes, and he hit out at "deeply hurtful and profoundly untrue allegations" about his late father.

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