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The global law and trust firm at the heart of the “Panama Papers” scandal has issued a statement from its Jersey office saying that they don’t enter into client contracts or bill for services, and that they comply with Jersey law.
Mossack Fonseca – which has an office in Old Street, across the road from the States offices at Cyril Le Marquand House – has been at the heart of an international scandal since Sunday afternoon, when journalists started to publish stories based on an enormous leak of 11.5 million documents about money laundering and tax avoidance.
The stories so far have seen the Icelandic Prime Minister resign, revelations about money laundering by Russian President Vladimir Putin’s circle and by senior figures at FIFA, and UK Prime Minister David Cameron face questions about his late father’s investments in the Bahamas.
A statement from Mossack Fonseca & Co (Jersey) Limited was circulated by Managing Director Nick Poole yesterday afternoon.
In it, they said: “Following an unauthorized breach in the server of Mossack Fonseca & Co head office in Panama, it is evident that confidential data and the identity of certain individuals and information on aspects of their affairs may have been exposed.
“Mossack Fonseca & Co. (Jersey) Limited is a service office forming part of the Mossack Fonseca organisation and has been situated in Jersey for over 20 years. The function of this service office is to act as a conduit between professional intermediaries / Trust Companies and the relevant Mossack Fonseca jurisdiction office, department or person. Mossack Fonseca (Jersey) Limited does not enter into client contracts itself and does not invoice for any of its services.
“The office also acts as a promoter for the Mossack Fonseca organisation and assists Mossack Fonseca clients with training and information for their staff in relation to the Mossack Fonseca jurisdictions they may use.
“Mossack Fonseca & Co. (Jersey) Limited maintains the highest professional standards and has operated in compliance with appropriate Jersey laws for many years.
“We are advised that an investigation is currently underway at the Mossack Fonseca head office.”
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