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'Panama Papers' revelation a 'crime,' says law firm Mossack Fonseca

A data leak has revealed that the law firm was used by wealthy politicians, celebrities and others to allegedly hide assets to avoid taxes or launder money

AFP/PTI  |  Panama City 

Black Money

The revelation of the "Panama Papers" detailing the off-shore structures of many wealthy clients is a "crime" and an "attack" on Panama, the law firm at the heart of the scandal has said.

"This is a crime, a felony," Ramon Fonseca, one of the founders of the Panamanian firm Mossack Fonseca, said yesterday.

"This is an attack on Panama because certain countries don't like it that we are so competitive in attracting companies," he said.

A massive data leak from Mossack Fonseca's supposedly secure data center resulted in media around the world publishing stories on how wealthy politicians, celebrities and used it to allegedly hide assets to avoid taxes or launder money.

First Published: Mon, April 04 2016. 07:42 IST