Kenneth Rijock

Kenneth Rijock

Sunday, December 4, 2016

DOZENS OF FINANCIAL FRAUDSTERS USED MOSSACK FONSECA TO HIDE CRIMINAL PROCEEDS

Losses of $250m
Given the large number of convicted fraudsters who availed themselves of the services of Mossack Fonseca, I wonder why the partners of that Panama City law firm were never charged, as co-conspirators, in any one of a number of major frauds. Though we know that the Central Intelligence Agency, and certain other unnamed foreign intelligence services, bought companies from Mossack, as well as using their "banking services," meaning ability to open anonymous accounts at dodgy Panama banks, were law enforcement agencies also using the firm, and is that why the firm was not touched ?

For years, this blog followed the hedge fund Ponzi scheme scandal perpetrated by Francisco Illarramendi, who stole hundreds of millions from PDVSA retirement funds, and who is swerving thirteen years for his crimes, but the fact that he used Mossack to form shell companies, to hide funds, should have resulted in the law firm being charged for its involvement, but that did not happen. Why was Mossack Fonseca only focused upon, when the ICIJ outed it in a public forum, the global media ?

Is some American or European prosecutor going to insert the firm's partners in a pending criminal case, for their role in a financial crime, or is there something there beneath the waterline, so to speak, preventing justice from being served ? 

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