Panamanian law firm suspected of aiding money laundering in Petrobras affair

A Panamanian law firm is being looked at as a likely facilitator of money laundering pertaining to the Petrobras corruption scandal in Brazil, according to the EFE agency.

Brazilian authorities have said they are probing the Panama City-based firm of Mossack Fonseca for handling real estate deals designed to launder money and conceal assets for some of the allegedly corrupt executives and politicians involved in Brazil’s huge bribes-for-inflated-contracts scandal.

Brazil’s Attorney General is seeking assistance from unnamed foreign countries in this investigation.

The real estate deals in question mainly involve seaside apartment blocks.

It is also alleged that Mossack Fonseca assisted in the formation of offshore companies in Panama to help hide money acquired from graft.


Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.
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