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Panama Papers: Authorities raid Mossack Fonseca law firm

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PANAMA CITY — Police have raided the headquarters of the Panamanian law firm whose leaked Panama Papers revealed how the world’s wealthy and powerful used offshore companies to stash assets.

Police with an organised crime unit carried out the raid at Mossack Fonseca “with no incident or interference”, prosecutors said in a statement, adding that searches would take place at the firm’s Panama City headquarters and its branches.

Police officers and patrol cars began gathering around the company’s building on Tuesday afternoon under the command of prosecutor Javier Caravallo, who specialises in organised crime and money laundering.

Mossack Fonseca, which specialises in setting up offshore companies, did not respond to requests for comment.

Earlier, founding partner Ramon Fonseca said the company had broken no laws, destroyed no documents, and all its operations were legal.

The Panama Papers, centred on a huge cache of documents pilfered digitally from the Mossack Fonseca, have had repercussions around the world.

Iceland’s Prime Minister was forced to resign after his name appeared as one of the beneficiaries of an offshore company.

Britain’s Prime Minister David Cameron has had to disclose his tax records.

Russian President Vladimir Putin has sought to divert attention from his entourage by claiming it is all a US plot against him.

China has been censoring online forums and media to try to prevent the names of relatives close to the leadership from circulating.

And wealthy citizens in Australia, France, India, Mexico, Peru, Spain and elsewhere face probes over suspected tax avoidance after their names figured in some of the 11.5 million documents.

AFP

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PM congratulates Nepali national cricket team

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KATHMANDU— Prime Minister KP Sharma Oli has congratulated Nepali national cricket team for being able to clinch the International T20 series.

PM Oli in a tweet extended best wishes and congratulations saying he was very happy to know Nepal’s win over the UAE by 14 runs in the third match of the series.

Winning T20 series is another landmark success for Nepali cricket, he said, adding, “It is big achievement for Nepal’s cricket. I would like to heartily congratulate entire members of Nepali cricket squad”.

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