Offshore Leaks Record

Panama · Panama Papers

Jürgen Mossack: offshore leaks and what happened next

Cleared A Panamanian court acquitted Mossack of money laundering on 28 June 2024, and no appeal outcome was found in the sources reviewed.3,4

Being named in a leak is not evidence of wrongdoing, and owning an offshore company can be legal. Each record sets out what was reported, the person's response, and what official action, if any, followed.

What was reported

The Panama Papers were records leaked from the Panama law firm Mossack Fonseca, which Mossack co-founded. ICIJ reported that the firm created and administered offshore companies for clients around the world.1

Response

A co-founder of the firm said the documents were stolen in a hack and that the firm did not engage in wrongdoing, NBC News reported.2

What happened afterwards

  1. Charged, Public Prosecutor's Office of PanamaMossack stood trial in Panama City in April 2024 on money laundering charges linked to Mossack Fonseca, with prosecutors seeking 12 years, AFP reported.3
  2. Acquitted, Panamanian criminal court (Judge Baloisa Marquínez)The judge acquitted Mossack and 27 other defendants. AP reported she found the evidence against him did not comply with the chain of custody after the raid on the firm's office and that other evidence was not sufficient and conclusive to determine criminal responsibility. AFP also reported the acquittals.3,4

Sources

  1. ICIJ, Giant Leak of Offshore Financial Records Exposes Global Array of Crime and Corruption (3 April 2016)
  2. NBC News, U.K. Prime Minister David Cameron Admits He Profited on Shares of Trust Mentioned in Panama Papers (7 April 2016)
  3. Arab News (AFP), Panamanian court acquits 28 defendants in Panama Papers trial (AFP) (29 June 2024)
  4. WSLS (Associated Press), Judge acquits 28 people accused in Panama Papers case, including law firm co-founder (AP) (29 June 2024)