Panama Papers: judge acquits 28 accused of money laundering

On Friday, a Panamanian judge acquitted one of the founders of the Mossack & Fonseca law firm and 27 other people, who had been accused of money laundering In the notorious case of the Panama Papers.

The scandal broke out in 2016 after a huge leak of secret documents that brought to light how some rich and powerful people, heads of state, dictators and famous personalities hid their money in tax havens.

Among those acquitted is Jürgen Mossack, who with his then partner Ramón Fonseca created the firm that was at the centre of the scandal. In the case of Fonsecawho died on May 8, Judge Balaoisa Marquínez decreed the extinction of the criminal action.

The judge also ordered the lifting of the personal and property precautionary measures imposed on all the defendants, according to the report. Power of attorney it’s a statement.

“We feel satisfied amidst mixed emotions, because many lives were affected along the way.“Guillermina Mc Donald, who was the defense attorney for Mossack and Fonseca, told The Associated Press. Her firm also represented 80% of the firm’s collaborators.

He highlighted that the judge, despite being “In the face of any possible pressure, he decided to do justice and recognize the innocence of those he represented.”.

The trial for this global case took place in April 2024 after several years of investigations, some plea agreements with several of those accused, and judicial assistance with several countries, including Germany and Argentina.

Marquínez had made the decision to combine two cases into one, in which the collaborators and founders of the Panamanian law firm were involved. On the one hand, there was the “Lava Jato” caseone of the largest corruption cases investigated in Brazil, and on the other hand, that of the Panama Paperswhich had to do with the use of offshore companies in alleged illicit activities.

“In the case of Lava Jato, it was not possible to determine the entry of money from illicit sources, coming from Brazil, into the Panamanian financial system with the purpose of hiding, covering up, dissimulating or helping to evade the legal consequences of the preceding crime,” he indicated. the judicial power.

As for those also called Panama Papersthe judge considered that the evidence against the Mossack & Fonseca servers “they did not comply with the chain of custody“, in reference to a raid that was carried out at the firm’s offices when the investigation was opened.

The rest of the evidence, the magistrate added, “were not sufficient and conclusive to determine the criminal responsibility of the accused, both for the funds from Germany, as well as those from Argentina.”.

Mc Donald, the lawyer, said that in the case of her client Mossack, 76, the acquittal sentence generated mixed reactions. “After so many years and having lost his friend and partner (Fonseca) along the way, he may be experiencing bittersweet feelings.“, he pointed.

The investigations in Panama began immediately after the leak of 11 million secret financial documents from Mossack & Fonseca, which illustrated how some of the world’s richest people hid their money in tax havens or set up offshore companies to transfer or move money of shady origin.

The records were first leaked to the German newspaper Suddeutsche Zeitung and were shared with the International Consortium of Investigative Journalists, which began publishing reports in collaboration with media outlets.

The law firm, which closed its offices in Panama and dozens of other countries in March 2018, denied being investigated in Panama at the time, arguing that it was the victim of a global cyber attack and that the information “Stolen“and disclosed it misrepresented the nature of the sector and the role of the firm in global financial markets.