Twenty-seven people to go on trial for money laundering in Panama Papers scandal

The law firm at the center of the Panama Papers scandal, Mossack Fonseca, announced its closure in 2018 due to 'irreparable damage' to its reputation. PANAMA CITY: Twenty-seven people are set to go on trial on Monday for money laundering in connection with the"Panama Papers" tax evasion scandal, which revealed how many of the world's wealthy stashed assets in offshore companies.

The leaked trove of 11.5 million files from their company Mossack Fonseca implicated influential figures including billionaires, politicians and even sports stars. Others implicated included former British premier David Cameron, football star Lionel Messi, Argentina's then-president Mauricio Macri, Spanish filmmaker Pedro Almodovar, to name but a few.

Many of those caught up in the scandal put forward reasons to explain their offshore presence and said they did not act illegally. The fact that part of its laws against money laundering did not exist when the Panama Papers revelations emerged could complicate efforts by the judiciary to achieve convictions.

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