4 men charged in Panama Papers investigation
Posted Dec 4, 2018 4:10 pm.
This article is more than 5 years old.
NEW YORK — Federal authorities in New York say four men have been charged in an international tax scheme related to the so-called Panama Papers.
The 11-count indictment unsealed Tuesday is the first U.S. prosecution to stem from the scandal and includes charges of conspiracy, wire fraud, tax evasion and money laundering.
Two Germans, one American and one Panamanian citizen were charged. It was not immediately clear whether they had defence attorneys.
Prosecutors say a global law firm based in Panama conspired to circumvent U.S. tax laws to maintain their own wealth and that of their clients.
They say the scheme dates to 2000 and involved sham foundations and shell companies in Panama, Hong Kong and the British Virgin Islands. The accounts allegedly were intended to conceal tax dollars owed to the IRS.
The Associated Press
