March 20, 2018

Panama Papers law firm Mossack Fonseca ‘to close’

At its height, the firm said it had previously had a presence in more than 40 countries, with “more than 600 collaborators around the world” before the data leak that exposed the widespread use of offshore financial centres by the global wealthy.

By the time of its demise, it had fewer than 50 employees.

Robert Barrington, executive director at Transparency International UK, said other law firms “should now learn two lessons: secrecy is not a sustainable business model and having corrupt clients on your books has consequences”.

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