Mossack Fonseca million dollar bail out questioned
THE MILLION DOLLAR bail granted to the central figures in the money laundering investigation of Panama law firm Mossack Fonseca has been questioned by the Attorney General’s office.
The Second High Criminal Court granted bail of $500,000 each to Ramón Fonseca and Jürgen Mossack, founding members of the firm which figured in the Panama Papers revelations a year ago sending shock waves through government and business circles around the world.
Prosecutors said the information they provided to the court on the allegations the men were involved in a scheme to launder money from Brazil to Panama was strong enough to keep them detained.
AG General Secretary Rolando Rodríguez Cedeño said the court has provided no reason why it overturned a decision of the lower court on Feb. 23 to deny the defendants bail, reports La Prensa.
“This decision of the Second Court surprises us because of the evidentiary strength of the case, as a result of the reports obtained by the prosecutors,” said Rodríguez.
He indicated that the ruling of judges José Ho Justiniani and María Cecilia Rodríguez does not value the evidence provided by the prosecutors.
Last week, Attorney General Kenia Porcell announced that there would be new defendants in the process after the investigation was strengthened due to information obtained from Brazilian Prosecutors against Organized Crime.
Guillermina McDonald, a lawyer for Fonseca and Mossack, confirmed that her clients each
posted the $500,000 bail on Friday April 21 and were released. They had been behind bars at the National Police Headquarters in Ancon, since Feb. 9
Maria Mercedes Riaño, former head of the Mossack Fonseca office in Brazil, remains in custody. On Feb. 15, Riaño said that Fonseca Mora and Mossack were aware of the maneuvers carried out by the firm in Brazil, something the partners have denied.
Mossack Fonseca is identified in the anticorruption operation Lava Jato conducted by Brazilian prosecutors which exposed the alleged diversion of funds from Brazil’s state oil company Petrobras for the payment of bribes through the purchase of property.
The Mossack Fonseca law firm is also the subject of another investigation for alleged money laundering says La Prensa.
