Panama's President Mulino Calls Panama Papers 'An International Hoax' Following Widespread Acquittals

José Raúl Mulino, Panama’s new president, has denounced the Panama Papers as “an international hoax” after a Panamanian court acquitted all 28 individuals charged with money laundering in connection with the controversy.

Mr. Mulino, who has previously served as a minister in several government departments including Justice and Public Security, argued that the scandal surrounding the millions of leaked documents was intended to damage Panama’s reputation.

Earlier this week, a Panamanian court found the evidence against the 28 defendants, including Jurgen Mossack and the late Ramon Fonseca, founders of Mossack Fonseca, insufficient to establish criminal responsibility. The leak of secret financial documents in 2016 had exposed how some of the world’s wealthiest and most powerful people used tax havens to conceal their wealth. The court raised doubts about the “authenticity and integrity” of the evidence gathered from Mossack Fonseca’s servers, citing due process concerns.

Speaking at his inauguration earlier this week, Mr. Mulino criticized the global reaction to the Panama Papers, which had sparked numerous investigations into offshore tax havens.

“Look at the case of Mossack Fonseca, which was the beginning of the end of our financial business model,” he said. “They have just acquitted all of those accused, because in reality it was an international tall tale to undermine the image and competitiveness of our country.”

“I am going to make Panama respected and recover our good name, which has been arbitrarily defiled by countries who would never apply the laws in their territories that they demand of us,” he added.

Gerard Ryle, director of the International Consortium of Investigative Journalists, which published the Panama Papers, defended the investigation’s impact.

“While the court did not hold these defendants accountable, the enduring impact of our investigation persists,” he said. “By revealing hidden truths, as we did in the Panama Papers, we empower the public with information they need to demand accountability and push for reforms.”

By fLEXI tEAM