As Reported on MSM.com Wednesday 11 September, The trial of 27 people connected with the
Panama Papers tax evasion scandal began in a Panamanian criminal court on Monday, some eight years after the revelations first emerged.
Among the defendants are German-born Jürgen Mossack, and Ramon Fonseca, the co-founders of a Panama-based law firm that was at the center of the document leak in 2016.
Mossack, Fonseca and other former employees of the law firm are facing money laundering charges based on allegations the law firm set up shell companies in tax havens.
Fonseca has previously said the firm, which closed in 2018, had no control over how its clients might use offshore vehicles created for them.
In a significant move to enhance the Internal Revenue Service’s (IRS) capabilities, President Joe Biden has proposed a $12.3 billion budget for the IRS in fiscal year 2025. This funding level matches
Hong Kong boasts almost twice the number of family offices than its nearest rival Singapore, according to a newly published report. The study commissioned by the Hong Kong government and published by
Chinese local governments quietly sold off seized crypto using private firms via offshore exchanges, converting proceeds into yuan despite a national trading ban.Over US$400M in assets were liquidated
High adoption rate: 86% of hedge fund managers surveyed now grant their staff access to various Gen AI tools to bolster their work, representing a widespread embrace of this transformative technology.