Former Co-owner of Panama Papers Law Firm Convicted of Tax Evasion, Impacting Offshore Finance Industry
A German court has convicted Christoph Zollinger, the former co-owner of the Panamanian law firm Mossack Fonseca, for aiding and abetting tax evasion. Zollinger, a Swiss-Panamanian dual national, was sentenced to one year and nine months of probation. The court found that Zollinger and his accomplices established offshore companies in Panama and other tax havens, facilitating tax evasion on a large scale. The indictment detailed the use of 50 offshore companies to conceal financial dealings, resulting in a tax loss of approximately $15 million. This conviction comes a decade after the International Consortium of Investigative Journalists (ICIJ) and its partners published the Panama Papers investigation, which exposed the use of offshore shell companies by wealthy individuals and entities. 
