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US Indicts 4 Linked To Panama Papers Probe

The DOJ said it's indicted four men on financial crimes charges related to the 2016 Panama Papers leak.
Posted at 4:10 PM, Dec 05, 2018

The Justice Department announced Tuesday it's indicted four men connected to the 2016 Panama Papers investigation.

The men face charges of tax fraud, money laundering and other financial crimes. Three of them have been arrested so far. 

According to the indictment, the defendants engaged in an international scheme, helping Americans evade paying taxes by using secret bank accounts and shell companies to hide their wealth. 

The DOJ says the alleged crimes are linked to the Panamanian law firm Mossack Fonseca, which has been suspected of helping set up some of those offshore accounts for its wealthy clients for tax evasion purposes. It made headlines in 2016 when millions of documents known as the Panama Papers were leaked, revealing a global tax account scandal. 

The list of people in the papers include multiple current and former world leaders, professional athletes, and television and film actors.

This is the second Panama Papers-related move that investigators have made in the last week. 

On Thursday, German authorities raided Deutsche Bank in Frankfurt in connection with a money laundering probe linked to the papers. At least two employees are suspected of helping set up offshore businesses for clients, and failing to report millions of dollars in potentially criminal transactions. 

Additional reporting from Newsy affiliate CNN