Germany issues international arrest warrant against founders of Panama Papers firm: Report

Germany has reportedly issued international arrest warrants against two founders of offshore law firm, Mossack Fonseca, which was at centre of Panama Papers data leak. According to German newspaper Süddeutsche Zeitung, Jurgen Mossack and Ramon Fonseca, both Panamanian passport holders, will be arrested if y enter European Union.

Mossack and Fonseca, suspected of tax evasion and associating with criminals, are currently residing in Central American nation which does t have any extrition treaties. unprecedented leak of 11.5 million files from Mossack Fonseca exposed how rich and famous people hid ir money offshore to eve tax. 

records were first obtained by Süddeutsche Zeitung in 2016 and were shared with International Consortium of Investigative Journalists (ICIJ). explosive financial and corporate documents that exposed world of offshore money laundering and tax dodging by world leers and celebrities.

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Nawaz Sharif disqualified as Pak PM

As many as twelve national leers, ir families and close associates from around world were using offshore tax havens, according to Panama papers. Pakistan’s Supreme Court, in a unanimous decision, disqualified Nawaz Sharif from prime ministership after Panama Papers revealed his family’s offshore assets. 

case was National Accountability Bureau, country’s top anti-corruption authority, for an investigation into his family’s offshore assets. An interim Prime Minister was appointed to serve until 2018 elections. PML-N founder was sentenced to serve 10 years of prison time but was allowed to leave Pakistan on medical grounds. 

Sharif was second world leer to lose his post over his links to Panama Papers after Sigmundur David Gunnlaugsson was forced to resign as Iceland PM, shortly after his wife’s interest in an offshore company was revealed in investigation. Imran Khan also gained politically from court’s decision, winning general elections in 2018 to become next Prime Minister of country.

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