Mossack Fonseca, the Panamanian law firm whose 11.5 million leaked documents revealed how the world's super-rich hide financial assets, is shutting down at the end of March. The trove of documents, known as the Panama Papers, was published by an international consortium of journalists. The firm said in a statement that the "reputational damage" from the revelations, and the damage to many of its wealthy and powerful clients, left it with no option but to close. Since the publishing of the papers, the firm had cut back to a staff of 50, down from about 600 employees in 40 countries before the 2016 report, which won the International Consortium of Investigative Journalists a Pulitzer Prize it shared with McClatchy and The Miami Herald. [The Associated Press, ICIJ] |
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