'Panama Papers' law firm shuts down operations

The law office at the core of the "Panama Papers" worldwide tax avoidance embarrassment that cut down two world pioneers declared Wednesday it would close down activities, refering to negative press and what it called ridiculous activity by specialists. 

"Reputational disintegration, the media crusade, the monetary outcomes and unpredictable activities by some Panamanian specialists have caused unsalvageable harm, bringing about the aggregate stopping of open tasks toward the finish of this current month," Mossack Fonseca said in an announcement. 

Be that as it may, it included a littler gathering would keep attempting to address demands from experts and other open and private gatherings. 

Last August, fellow benefactor Jurgen Mossack recognized the firm had shut the greater part of its workplaces abroad after its harmed validity made business wallow. 

April 3, 2016 denoted the start of the "Panama Papers" embarrassment - a hole of 11.5 million records from Mossack Fonseca's advanced file that uncovered how affluent and persuasive figures over the world had made seaward organizations to shield resources. 

The data was acquired by German daily paper Sueddeutsche Zeitung, who imparted it to the International Consortium of Investigative Journalists. It was discharged as an accessible database, with disclosures proceeding to be uncovered right up 'til today. 

Icelandic leader Sigmundur David Gunnlaugsson was compelled to leave after it was uncovered his family had seaward records - while previous Pakistani PM Nawaz Sharif was excluded for life from office in the wake of being embroiled in the reports. 

Different figures ensnared included previous British head David Cameron, football star Lionel Messi, Argentina's President Mauricio Macri, Spanish movie producer Pedro Almodovar, to give some examples. 

No less than 150 examinations were opened in 79 nations to inspect conceivable tax avoidance and tax evasion, as indicated by the US-based Center for Public Integrity.