Scandal Panama Papers Breaks all over Latin America

Mexico - Businesspeople, politicians and entertainment celebrities in Mexico appear on the the list of participants in the creation of companies devoted to hide millions of US dollars, according to an investigation known as Panama Papers.

The weekly magazine Proceso published the list of businesspeople and political figures involved in the leak of internal files of the Panamanian firm Mossack Fonseca, analyzed by the International Consortium of Investigative Journalists (ICIJ) and more than 100 media outlets in the world.

Proceso also mentioned the company Altos Hornos de Mexico (Ahmsa); Ricardo Benjamín Salinas, president of TV Azteca, Banco Azteca, Fundacion Azteca; Guillermo Cañedo, executive of Televisa and senior vice president of the North American Zone of the Confederation of North, Central America and the Caribbean Association Football (CONCACAF) in addition to 12 leaders and 128 politicians and top officials throughout the world that were identified as involved in the case.

According to the investigation, banks are also key elements and in the the case of Mexico, Santander Private Banking, HSBC Private Banking, Credit Suisse First Boston and Merril Lynch Wealth Management, the wealth management division of Bank of America.

What seems to be a kingdom of corruption, grows continually and also involves several Salvadorians, including some representatives of the right-wing party Nationalist Republican Alliance (ARENA) and corporate groups, according to reports here today.

According to newspapers articles and social network posts, a deputy and other members of ARENA would be included, as well as top executive officers of the Group Cuscatlan Ltd; the eidtorial group Altamirano; the Salvadorian Telecorporation and several others that make around 30.

Several Guatemalans, including Juan Manuel Diaz-Duran, deputy of the party Vision with Values (VIVA), are also linked to the international scandal, due to their relations with the lawyers' office Mossack Fonseca.

According to a denunciation by the ICIJ, Mossack Fonseca is one of the most important off-shore office sellers and one of its 40 affiliate companies has the same address than the lawyers' office Diaz-Duran and Associates.

In one of the diagrams presented by those who denounced the situation, Guatemala appears in the sixth position, following Panama, among the 10 intermediaries to set up shell companies in tax havens.

Besides, about 850 Colombians have been linked to the scandal of the tax havens, of international scope, different media outlet in the country asserted.

Judging by the files obtained by the German newspaper Süddeutsche Zeitung, shared with the ICIJ and investigated by CONNECTAS, Colombians with shell companies in Panama are especially based in Bogota, Medellin and Barranquilla.

 

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