Attempt to block further Panama Papers disclosures

MOSSACK FONSECA, the Panama law firm that has brought the eyes of the world on Panama, is fighting to stave off further revelations that could harm its own business and further damage the image of Panama.

The company has announced that it has taken “forceful” actions to prevent the International Consortium of Investigative Journalists (ICIJ) from publishing documents of the firm that have generated news stories under the heading The Panama Papers in media all over the world.

The information, on scores of thousands clients and their offshore dealings will be shared at 2 p.m. May 9 through the web site of the ICIJ.

The firm, in  a statement, said that it has sent a “cease and desist” letter to the ICIJ since the documents it plans to publish “are based on theft of information and a violation of confidentiality between a client and a lawyer, which we must work to protect.”

“We hope that this will not drag us into future legal action,” added the statement.

But the firm seems to be squeezed between two rocks.

Although it  says that documentation was “stolen” from its database, Panama Prosecutor Ricaurte González said that there is no “certainty” of that fact.

Gonzalez is investigating a complaint filed by Mossack Fonseca for the alleged hacking of its servers.

Another prosecutor, Javier Caraballo, is investigating the firm for “disguising or promoting illegal activities.”

Data that will be disclosed by the ICIJ on May 9,  includes information about companies, trust, foundations and funds incorporated in 21 jurisdictions. It will not include bank records, financial transactions, e-mails, photographs or telephone numbers.