Archive | Panama Papers

The Panama Papers: Street Protests in Panama

February 22, 2017  |   Posted by :   |   Panama Papers   |   0 Comments

On 2/19/17 thousands of Panamians protested in the streets carrying signs “No More Governments of Thieves and the Corrupt”. They were demonstrating over the most recent scandal emerging from the Panama Papers the Brazilian firm, Odebrecht who paid $788m in bribes to win construction contracts in 12 countries (including $59m in bribes in Panama). Odebrecht […]

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Panama Papers Update: Mossack & Fonseca Law Firm Founders Arrested

February 16, 2017  |   Posted by :   |   Panama Papers   |   0 Comments

On 2/10/17 The Guardian reported that Juergen Mossack & Ramon Fonseca, founders of Panamanian law firm Mossack Fonseca were arrested and jailed following Panama probe into creating companies linked to Brazil corruption in the bribery case of Brazilian Company Odebrecht. The case is part of the sprawling Brazilian Lava Jato corruption scandal. The Panama Papers […]

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IRS Panama Papers: US Tax Compliance & Foreign Entities

November 10, 2016  |   Posted by :   |   Panama Papers   |   1 Comment

The Panama Papers revealed up to 3000 US taxpayers with offshore accounts held through foreign entities for purposes of anonymity. If the foreign entities were used for tax evasion or money laundering the US taxpayer may be subject to multiple felonies for tax evasion (i.e. tax crimes) and if the funds were wired (or interstate […]

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Panama Papers Update – October 2016

October 11, 2016  |   Posted by :   |   FATCA/FBAR,Panama Papers   |   0 Comments

The Panama Papers were released in April 2016, outing the world’s wealthiest people, including celebrities, politicians and business leaders for hiding their wealth through Panama Law Firm, Mossack Fonseca, setups in world tax havens (currently 90 known world tax havens). The explosive revelations subsequently have included: 1) Up to $34 Trillion in Wealth, owned by […]

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Panama Papers: First US Criminal Prosecution, Chetan Kapur

October 01, 2016  |   Posted by :   |   Panama Papers   |   0 Comments

On 9/7/16 Federal Judge Paul Engelmayer ruled that Chetan Kapur, an Indian-born NY investment manager, the only US taxpayer to be prosecuted in connection with the Panama Papers, must remain in jail (he has been in jail since 7/15) until the next case hearing (10/28/16). Kapur was jailed on contempt charges for refusing to cooperate […]

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Update: Panama Papers September 2016

September 27, 2016  |   Posted by :   |   Panama Papers   |   0 Comments

The Panama Papers were released in April 2016, outing the world’s wealthiest people, including celebrities, politicians and business leaders for hiding their wealth through Panama Law Firm, Mossack Fonseca, setups in world tax havens (currently 90 known world tax havens). The explosive revelations subsequently have included: 1) Up to $34 Trillion in Wealth, owned by […]

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Wolfe Law Group Releases Two Books on the Panama Papers

September 22, 2016  |   Posted by :   |   Panama Papers   |   0 Comments

Gary S. Wolfe of The Wolfe Law Group is proud to announce the release of two eBooks on the Panama Papers: 1. The IRS/Panama Papers: Money Laundering and Tax Evasion 2. The IRS/Panama Papers: US Taxpayers with Offshore Entities On 9/27/16 the European Union Parliament Committee of Inquiry on Money Laundering and Tax Evasion will […]

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The IRS & The Panama Papers: US Taxpayers

September 17, 2016  |   Posted by :   |   Panama Papers   |   0 Comments

For those US taxpayers (over 2000) listed in the Panama Papers they have now been publicly identified and are subject to IRS civil tax audits, referrals to the Criminal Investigation Division (IRS) for investigation, and if warranted a referral by the IRS/CID to the US Department of Justice for criminal prosecution for tax crimes. Offshore […]

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UPDATE: Panama Papers Reveals US Taxpayers with Offshore Entities

August 25, 2016  |   Posted by :   |   Panama Papers,Tax Evasion   |   0 Comments

CA CEO Magazine published two of my articles in their August 2016 edition: 1. UPDATE: Panama Papers Reveals US Taxpayers with Offshore Entities 2. The Pasquantino Case: US Money Laundering Law and Foreign Tax Evasion The former is posted below, the latter was sent as a newsletter on July 21, 2016. If you missed it, […]

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Paul Manafort and the Panama Papers, the Ukrainian Connection

August 15, 2016  |   Posted by :   |   Panama Papers   |   0 Comments

Paul Manafort, the campaign manager for Republican Presidential candidate, Donald Trump, has been linked to Ukrainian clients named in the Panama Papers. The anonymity offshore shell corporations provide individuals is a stated reason for their use in order to keep assets owned as confidential information. Although there are both legal and benign reasons for using […]

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