Spain seeks help in laundering case and Panama law firm

SPANISH judicial authorities  have sent a second  request for assistance to Panama authorities concerning purchases made by shell companies, set up from Panama , that are being investigated as part of a money laundering investigation.

Thursday, the Spanish newspaper El Mundo published a story that stated a judge had sent a request to Panama officials. The story also noted that a similar request was sent in 2012.

Panama has also been slow off the mark in answering requests  help in corruption cases coming  from Brazil.

The Spanish  request surrounds the purchase of an apartment  in London valued at around $1.5 million, which was allegedly purchased by former Madrid mayor Ignacio Gonzalez. He is also secretary general of the Popular Party which currently rules Spain.

Authorities have alleged that the purchase may have been part of a bribe, because Gonzalez did not have the means to make such an expensive purchase.

The property was purchased by Coast Investors Company, domiciled in Delaware. That company, in turn, was controlled by the Panamanian company Waldorf Overseas Investments, whose resident agent was the firm Mossack Fonseca.

The co-founder of the firm Ramón Fonseca, is an advisor to President Juan Carlos Varela, and acting president of the  governing Panamenista  Party

The firm has also been involved in criminal investigations in Brazil where some of its staff have been arrested.

According to El Mundo, the new request made to Panamanian authorities seeks to uncover information about the beneficial owner of that company.

Also connected to the case are Lourdes Cavero, the wife of the former official, and the president of the soccer team Atlético de Madrid, Enrique Cerezo.

Mossack Fonseca said that it “provides the service of registered agent in various jurisdictions” and has no “commercial links with companies it incorporates.”

It also said  that it ceased to be the registered agent of the firm in 2013