"27 Charged as Panama Papers Trial Commences"
The trial of 27 individuals, including the owners of the Mossack-Fonseca law firm at the center of the 2016 Panama Papers leak, has begun in Panama, with charges related to money laundering. The leaked documents revealed how the world's wealthiest individuals hide their money, leading to widespread repercussions, including the resignation of Iceland's prime minister and scrutiny of leaders in Argentina, Ukraine, China, and Russia. The case focuses on allegations that the firm set up shell companies to acquire properties in Panama with funds from a corruption scheme in Brazil. US federal prosecutors have also alleged that Mossack Fonseca conspired to circumvent American laws to conceal tax dollars owed to the IRS.
