Panama Papers Trial Begins, Spotlighting Global Tax Evasion

The trial in Panama City targets 27 individuals, including the founders of Mossack Fonseca law firm, over money laundering and tax evasion revealed by the 2016 leak.

The trial of 27 individuals implicated in the Panama Papers scandal commenced in Panama City, focusing on charges of money laundering.
Jurgen Mossack and Ramon Fonseca Mora, founders of the Mossack Fonseca law firm, are among the defendants, facing allegations of creating shell companies for tax evasion.
The Panama Papers leak in 2016 exposed how the world's wealthy hid assets in offshore companies, affecting global leaders and sparking investigations.
Panama has made legal reforms since the scandal, but challenges remain in prosecuting due to the non-existence of certain laws at the time of the revelations.
The trial is expected to highlight the ongoing global issue of tax evasion and the use of offshore financial havens.

The Guardian

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