Mexico’s Financial Intelligence Unit is investigating cases related to the Pandora Papers

The Financial Intelligence Unit of Mexico (UIF) reported this Sunday that it is investigating the personalities associated with the Pandora Papers – a publication by the International Consortium of Journalists and Investigators (ICIJ) that details how some leaders World politicians have assets in tax havens -.

This was confirmed by the head of the FIU, Santiago Nieto, on behalf of this organization, which is in charge of overseeing suspicious operations of money laundering and other criminal economic activities and part of the with the president of the country, Andrés Manuel López. The newspaper “El Heraldo de México” collects the undertaking that Obrador has made.

“We saw the journalistic investigation called ‘Pandora Papers’. The FIU has already launched the investigation in Mexico (…). For this reason we insist that it is necessary to move forward with the identification of the final beneficiaries”, said Nieto on his social network networks.

Mexico’s Financial Intelligence Unit is investigating cases related to the Pandora Papers
Mexico’s Financial Intelligence Unit is investigating cases related to the Pandora Papers

Political figures who appear on the list include former Presidency legal advisor Julio Scherer; the Minister of Communications and Transport, Jorge Arganis Díaz and the Senator of Morena Armando Guadiana, refer to the local newspaper “El Universal”.

According to the investigation, Scherer, one of the men closest to President López Obrador, appears to be linked to an “offshore” structure and apartment in Miami Beach.

It should also be noted that in March 2007 Guadiana founded the “Hawaii Trust”, a trust that protects the shares of an opaque company based in the British Virgin Islands. In his case, the senator had not recorded the property attributed to him in the inheritance books.

For his part, Díaz also appears as the owner of a British Virgin Islands based company established in 1998 to protect his heritage. According to the Pandora Papers, the company was registered just a month after it was enrolled in the Mexico City government’s Department of Labor and Services.

As noted by the El Milenio newspaper, these documents of alleged financial maneuvers have revealed the names of at least 3,000 Mexican personalities, including businessmen and politicians.

The Pandora Papers are a series of documents that would show how 35 prominent leaders and former world leaders like Russian President Vladimir Putin; King Abdullah of Jordan; the Czech Prime Minister Andrej Babis; or the President of Ecuador, Guillermo Lasso, have assets in tax havens.

The leaked documents could lead to cases of corruption, money laundering or tax evasion, although for the most part they are evidence of perfectly legal operations used by the rich and powerful to start businesses to buy property

The Pandora Papers follow leaks from documents like the FinCen Archives, Paradise Papers, Panama Papers and LuxLeaks, but the ICIJ assures that the latter with 14 sources, nearly 12 million files and nearly 3. the biggest leak is terabytes of data.

The documents come from 14 financial services companies in tax havens such as the British Virgin Islands, Panama, Belize, Cyprus, the United Arab Emirates, Singapore and Switzerland.

More than 600 journalists from 177 countries and major recognized media from around the world have participated in this latest ICIJ leak.

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