Insufficient evidence - "Panama Papers" trial: Court acquits 28 defendants
Eight years ago, the "Panama Papers" financial scandal brought politicians, athletes, and celebrities from all over the world into trouble. A Netflix film was even made about it – with Meryl Streep, Gary Oldman, and Antonio Banderas in the leading roles. On a Friday evening (local time) in Panama City, a court there acquitted the 28 defendants who, according to the Middle American country's public prosecutor, had pulled the strings in the founding of letterbox companies in tax havens – due to lack of sufficient and conclusive evidence.
The charges could not be substantiated and proven, ruled Judge Baloísa Marquínez. Additionally, the collection of evidence on the servers of the now defunct law firm Mossack Fonseca was not traceable.
Judge Marquínez also ordered the termination of the criminal proceedings against the deceased Ramón Fonseca Mora in the related money laundering scandal "Lava Jato." In the "Lava Jato" case, there was also a acquittal.
Money laundering charge in the "Panama Papers" scandal
In the "Panama Papers" affair, the defendants were accused of money laundering through the founding of 215,000 letterbox companies in tax havens. The co-founder of the law firm, the German lawyer Jürgen Mossack, always denied the allegations.
In the spring of 2016, the "Süddeutsche Zeitung" and other investigative journalists from the Network of Investigative Journalists (ICIJ) disclosed the business dealings of the Panamanian letterbox companies. Through a massive data leak, 11.5 million documents were leaked to the newspaper. Almost 400 reporters from more than 80 countries participated in the investigations.
Among those named were the names of 140 politicians and their close associates. In Iceland, the publication of the documents led to the resignation of the Prime Minister Sigmundur Gunnlaugsson. In Pakistan, Minister President Nawaz Sharif was removed from office.
The ICIJ received the highest award in US journalism, the Pulitzer Prize, for the disclosures in 2017. The disclosures triggered tax investigations in many countries and, as a result, also led to additional tax revenues in the millions in Germany.
The law firm Mossack Fonseca was also accused of being involved in a Brazilian corruption network. In the "Lava Jato" scandal, it was about bribery payments in the awarding of construction projects. The focus was on the Brazilian construction company Odebrecht. The judge ruled that it had not been proven in this case that money from illegal Brazilian sources had flowed into the Panamanian financial system.
- Despite the involvement of celebrities like Gary Oldman, Meryl Streep, and Antonio Banderas in the Netflix film about the Panama Papers, the defendants in the local court received an acquittal due to lack of sufficient evidence.
- Judge Baloísa Marquínez also dismissed the money laundering charge against the deceased Ramón Fonseca Mora in the related "Lava Jato" case, leading to another acquittal.
- In the "Panama Papers" scandal, Gary Oldman's character was accused of money laundering through the founding of over 215,000 letterbox companies in tax havens, but the charges could not be substantiated.
- Netflix's film about the Panama Papers, featuring Gary Oldman, Meryl Streep, and Antonio Banderas, highlighted the investigation led by the "Süddeutsche Zeitung" and the Network of Investigative Journalists (ICIJ).
- The ICIJ's investigation into the Panamanian letterbox companies, led by reporters from over 80 countries, uncovered the involvement of numerous celebrities, politicians, and athletes in tax havens, causing controversies worldwide.
- The public prosecutor's office in Panama brought charges against several celebrities and politicians named in the Panama Papers, but the evidence was found to be insufficient, resulting in acquittals for many of the defendants.
