Offshore Leaks Record

Argentina · Panama Papers

Mauricio Macri: offshore leaks and what happened next

Investigated, no charges Argentine courts closed the money laundering case in August 2017 and dismissed the tax evasion case against Macri in August 2019.3,4

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

ICIJ reported that while he was a businessman and mayor of Buenos Aires, Macri was listed as director and vice president of a Bahamas company managed by Mossack Fonseca.1

Response

A spokesman said Macri never personally owned shares in the firm, which was part of his family's business, ICIJ reported. Macri said he had nothing to hide, had acted in accordance with the law and was only a director of Fleg Trading, which his father created, Al Jazeera reported.1,2

What happened afterwards

  1. Investigation opened, Federal prosecutor Federico DelgadoThe prosecutor asked the courts to investigate whether Macri maliciously failed to complete his asset declaration, and the case went to Judge Sebastián Casanello, Al Jazeera reported.2
  2. Case closed, Federal Appeals Chamber, Room II (Buenos Aires)The appeals court upheld Judge Casanello's finding of no evidence of money laundering by Fleg Trading and Kagemusha and closed the money laundering case against Macri, while the question of whether he should have declared the companies continued in another court, Diario de Cuyo reported.3
  3. Case closed, Economic criminal court (Judge Diego Amarante)The judge dismissed Macri and relatives in the tax evasion case concerning Fleg Trading and Kagemusha, ruling that the investigation allowed the offences to be ruled out, iProfesional reported in December 2019.4

Sources

  1. ICIJ, Giant Leak of Offshore Financial Records Exposes Global Array of Crime and Corruption (3 April 2016)
  2. Al Jazeera, Panama Papers: Argentina's Macri has nothing to hide (8 April 2016)
  3. Diario de Cuyo, La Cámara Federal confirmó el cierre de la causa contra Macri por lavado de dinero (3 August 2017)
  4. iProfesional, Sobreseyeron a Mauricio Macri en la causa Panama Papers (5 December 2019)