The more we examine the Panama Papers, the more we uncover rampant client criminal conduct. The lawyers at Mossack Fonseca, who frankly I have come to describe more accurately as attorney-criminals, among other illegal acts, facilitated the world's biggest Ponzi scheme: Bernard L Madoff Securities LLC. They formed what are known as feeder funds, meaning entities that transferred funds into a master fund, for delivery to the master Ponzi schemer of them all, Bernard Madoff.
Some of the feeder funds were actually BVI corporations formed by the Mossack firm, such as Plaza Investments International; others, such as Fairfield Sentry Limited, Harley International Limited, and Thema Fund Coral USA, formed offshore entities, through Mossack Fonseca, to conceal the identities of the beneficial owners.
The so-called feeder funds thereby set up a layer of protection, between investors, and onshore US regulators and law enforcement, and they could have very well been the FARC, Russian organized crime syndicates, narcotics traffickers, and even specially designated global terrorist organizations. Only the lawyers at Mossack really knew who their dodgy clients were, and for that reason their firm deserves to be liquidated, and the partners indicted, and imprisoned in the United States.
I wonder if that will ever happen ? Perhaps the recent revelations, regarding Mossack assistance to North Korea, might be the last straw, when it comes to American law enforcement agencies. let us hope that they don't take the customary four years to obtain an indictment of messrs. Mossack & Fonseca.