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More than 400 Mexicans Named in Bahamas Leak Case

ISSN:1054-8890
LADB Article ID: 80101
Category/Department: Mexico
Date: 2016-09-28
By: Carlos Navarro

The International Consortium of Investigative Journalists (ICIJ) has uncovered another case where wealthy individuals created shell corporations in a third country, possibly to hide earnings and avoid paying taxes in their home countries. Earlier this year, the ICIJ released a list of names of possibly tens of thousands of people who appeared to have evaded tax payments by creating shell companies in Panama. That case, dubbed the Panama Papers, included at least 33 Mexicans and many other prominent Latin Americans, whose names appeared on 11.5 million documents obtained from the Panamanian law firm Mossack Fonseca. The details of the most recent case––dubbed the Bahamas Leak—were published by the German newspaper Süddeutsche Zeitung. The list of 1.3 million internal files, obtained from the company register of the Bahamas, includes at least 432 Mexicans and several prominent Latin Americans. The company register contains the names of directors and some shareholders at nearly 176,000 shell companies, trusts, and foundations, registered between 1990 and early 2016.

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