In a letter to U.S. Treasury Secretary Jack Lew, Sen. Sherrod Brown (D-Ohio) and Sen. Elizabeth Warren (D-Mass.) called upon the Treasury to investigate whether any U.S. or U.S.-linked entities were involved in the illicit activities found in the Panama Papers.
According to leaked internal records, Mossack Fonseca & Co. helped clients create shell companies to hide assets, launder money or evade taxes.
In the April 7 letter, the senators wrote, "The reported involvement of U.S. or U.S.-linked institutions and individuals in what may have been efforts to enable international money laundering and tax evasion raises important questions about the susceptibility of the U.S. financial system to money laundering, terrorist financing and other illicit enterprises."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
