The Belgian-Dutch banking group Fortis has helped thousands of wealthy clients avoiding tax. Reported that the Flemish newspaper De Tijd on the basis of the investigation into the leaked documents of legal advisory firm Mossack Fonseca from Panama.
Fortis customers could go to establish accounts in the name of offshore companies in tax havens like the British Virgin Islands and the Seychelles. There is nothing illegal about, though difficult to trace the beneficiaries behind these structures.
Door
Part Fortis Intertrust managed the construction until the end of 2008, the time when Fortis was dismantled. Successor Intertrust Group makes a comment that during the Fortis years, thousands of offshore structures managed for customers of the bank-insurer. That would now almost not happen again.
“After our separation from Fortis in 2009, we have realized 98% of Fortis customers which we had to manage the offshore structures, shown the door. It is no longer consistent with the high standards that we wanted to pursue, “says Intertrust at the time.
Raid
The police attacked Friday another office Mossack Fonseca in Panama. Panamanian media reported that agents left the premises with bags full of shredded paper. The legal services provider announces that it has destroyed any documents, but digitized. Justice was already in possession of these papers because of a previous search.
About a week ago the Panamanian prosecutor searched the headquarters of Mossack Fonseca. There were also raids on offices in Peru and El Salvador. Police searched for evidence to prove that Mossack Fonseca supports illegal activities such as money laundering and terrorist financing.
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