INTRODUCTION:
The past-published articles about the Panama Papers had immediate damage to personal and national reputation to Iceland and the rapid resignation of its Prime Minister. Russian President Vladimir Putin had attempts to tie him to offshore companies with billions in assets. David Cameron, who resigned recently as Prime Minister, fumbled to explain his family’s financial past and embarrassing offshore holdings. China, within hours of published Panama Papers, simply censored the term “Panama Papers” from their population’s access to it.
To bring this development to a domestic and possibly personal review, the U.S. Attorney for the Southern District of New York has officially disclosed the probe by his office; see below a letter written from Preet Bharara, the U.S. Attorney for the Southern District, requesting communications with ICIJ members.
The files of Mossack Fonseca were well organized, according to the published documents, all 11.5 million of them, which included detailed accounts of the trail of money, individuals involved, officer’s names, trustees’ names, bank account details, as well as photocopies of U.S. individuals’ passports and a historical narrative of their professional backgrounds.
SUMMARY:
At this point, you simply “can not un-ring the bell” and if you are one of the noted 200 U.S. citizens identified so far in the Panama Papers; then, if you haven’t already, you will be notified shortly about your involvement in these documents to determine your culpability, disclosure to the U.S. Treasury and payment of your U.S. taxes.
If you are one of the 200 contacted by the U.S. Authorities or expect to be contacted, please telephone our office for an attorney/client privileged discussion of your particular concerns. Also, if you have not been contacted but suspect yourself to be exposed, please contact us to discuss your matter privately. I have been representing American with offshore bank accounts, offshore entities and foreign money transfers for over 26 years and we continue to bring this expertise forward to successfully assist you.
Michael B. Nelson, Esq.
Article Dated June 28, 2016
