Kenneth Rijock

Kenneth Rijock

Sunday, May 22, 2016

PANAMA'S ATTORNEY GENERAL ORDERS MOSSACK FONSECA TO CLOSE UP ITS WEALTH MANAGEMENT SERVICES

Atty. General Porcell

Kenia Porcell, the Attorney General of the Republic of Panama, has reportedly ordered the law firm of Mossack and Fonseca to shutter its "wealth management" (read; money laundering) subsidiaries and affiliates. The firestorm that has flared over the Panama Papers disclosures threatens to consume the credibility of country's lucrative offshore financial center, and this may be an attempt at damage control. Longtime Panama businessmen cynically believe that the law firm partners will never be indicted, but that moves will be made, by Panama, to make it appear that corrective measures are being taken.

This news, about the actions of the Attorney General, has not appeared in mainstream Panama City media, due to the fact there is a strict unofficial blackout on negative news, ordered by Government officials, and now scrupulously followed by the principal newspapers in the capital.


No comments:

Post a Comment

Note: Only a member of this blog may post a comment.