Justice Minister Named in ‘Panama Papers’

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Khmer Times / Jonathan Greig and Ros Chanveasna

Justice Minister Ang Vong Vathana is among the many world leaders, government officials and celebrities named in the so-called “Panama Papers,” a massive trove of leaked documents released by the International Consortium of Investigative Journalists (ICIJ) yesterday detailing offshore holdings and international accounts that passed through the powerful Panamanian law firm Mossack Fonseca.

The documents have been compared to the 2010 release of classified documents from the US State Department, referred to as WikiLeaks. The difference, according to the ICIJ, is that the Panama Papers expose the often corrupt methods wealthy individuals and corporations go through to avoid taxes and oversight in offshore financial transactions.

The firm Mossack Fonseca specializes in setting up and often selling shell companies for its clients, allowing them to hide, transfer and loan money worldwide to evade taxes and oversight, the report said.

The ICIJ report acknowledges that not everyone named in the leaked documents was necessarily involved in illicit financial transactions, saying there are legitimate uses for offshore companies.

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