05/12/18

SOUTH AFRICA: Country's Strength to Tackle Money Laundering to be put to the Test.

Four men have been criminally charged in the US government’s investigation into the findings of the Panama Papers, the leaked files from the offshore law firm Mossack Fonseca, reports the Guardian

Prosecutors in New York said the four men, including an attorney and an investment manager who worked for the company, have been charged with wire fraud, tax fraud, money laundering, and other crimes

The prosecutors said Mossack Fonseca perpetrated a “decades-long criminal scheme,” which was first exposed in a series of articles since 2015 by the Guardian and dozens of media partners around the world.

Geoffrey Berman, the US attorney in Manhattan, said in a statement on Tuesday that the four went to “extraordinary lengths to circumvent US tax laws” in order to boost the wealth of their clients.

“Now, their international tax scheme is over, and these defendants face years in prison for their crimes,” said Berman