The Panama Papers scandal resurfaces as over two dozen defendants, including Jürgen Mossack and Ramón Fonseca, face trial in Panama. The case centers on allegations that their law firm facilitated money laundering through offshore companies, particularly in the Brazilian Odebrecht corruption scandal. The firm created shell companies to obscure funds, triggering a global reckoning on financial transparency. While both deny wrongdoing, the fallout led to Panama’s inclusion on tax haven lists and spurred reforms to enhance financial transparency and accountability. The trial underscores ongoing efforts to address illicit financial activities and restore Panama’s reputation.
Panama Papers: Defendants on Trial for Alleged Money Laundering
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