Mossack Fonseca, the Panama City-based law firm behind the Panama Papers leak, has closed its offices in Jersey, Isle of Man and Gibraltar, and cut back its operations in Nevada and Wyoming. “This decision has been taken with great regret, as Mossack Fonseca has had a presence in these locations for more than 20 years,” the law firm wrote. Police have conducted raids and seized computers at the firm’s offices in Panama, El Salvador and Peru. The law firm at the centre of the Panama Papers data leak has shuttered offices in three prominent tax havens after its clients’ offshore dealings were exposed by the biggest ever collaboration of investigative journalists, including the Star. Mossack Fonseca announced on Twitter last week that it had shut down its offices in Jersey, Gibraltar and the Isle of Man, three tax havens where the firm incorporated anonymous companies and opened offshore bank accounts for its clients.

Source: thestar June 02, 2016 00:42 UTC