Kenneth Rijock

Kenneth Rijock

Wednesday, April 6, 2016

MOSSACK'S COVERT GLOBAL SALES APPARATUS OPERATED UNDER THE RADAR


It appears that Mossack Fonseca's public relations campaign, aimed at disseminating disinformation, and denying the law firm's role in global tax evasion, money laundering, and global investment of criminal proceeds, is in high gear. We have MF partner Ramón Fonseca claiming that the source of the information was a massive hack of the firm's database, when in truth and in fact it was Fonseca's mistreated, spurned mistress, a former employee. who was the primary source of the information.

Most distressing is the fact that the law firm has been totally silent about its off-the-books, cleverly disguised international network of salesmen, hawking the virtues of the firm's services. What legitimate law firm does that ? None of the offshore services offered involved legal advice, merely tax dodges, wealth management of cash with no questions asked about source of funds, and investment of anyone's money, irrespective of their status as a government official, with ready access to public money.

While it is true that only attorneys, and law firms can form corporations, under Panamanian law, all this type of work is done by paralegal assistants, and the only advice proffered is a referral to the firm's wealth management, and other subsidiaries, who will hide the client's proceeds of crime.

look at these two examples of MFs opaque method of offering dodgy, non-legal services, to prospective clients overseas:

(1) Canadian investigators have uncovered a Vancouver corporation, ostensibly open for only one year, offering MF services, a decade ago. Here's the twist: even though the company is allegedly closed, it is still listed as an MF asset in some places, its telephone still works, and the Canadian attorney originally listed as the local manager has a long and dark history of involvement in suspect activities; he also maintains other vehicles for offshore work, not named as Mossack Fonseca subsidiaries. Just how much business is the British Columbia office conducting, and is it paying any taxes at all to Canada ? There was also a covert office in Toronto, located within a million-dollar condominium apartment in the city's financial district, operated by a "wealth manager."

(2) MFs Miami, Florida sales office is located in a Luxury condominium apartment on pricey Brickell Avenue. I cannot find any means of contacting it, nor the names of staff members. The Registered Agent is itself a corporation. It has no webpage, nor ascertainable email address. Exactly how are prospective clients to contact it ? The answer is: don't call us, we'll call you. One seriously doubts that this covert sales office files any US tax returns.

Multiply these stories 120 times, as related by a Mossack Fonseca wealth management staff members, and you have a good idea of how this law firm pulls in dodgy clients, with dirty money. Perhaps  Lic. Ramon Fonseca should cease and desist from his many pronouncements about his firm's total innocence, for we do not believe anything he says to the media at this point.  

8 comments:

  1. Mr. Rijock do not forget their Toronto office opened for the past 5 years in the fashionable downtown core of condos.

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  2. Ken Rijock, you have wondrous sources for your Financial Crime Blog. You are doing great work and benefit to all.

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  3. It seems that Mossack & Fonseca are war mongers and drug money traders

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  4. Cheyenne, Wyoming
    M.F. CORPORATE SERVICES WYOMING LLC
    https://wyobiz.wy.gov/Business/FilingDetails.aspx?eFNum=051152026161045253038100116118048223150066117091

    which is just a drop for

    Las Vegas, Nevada
    M F CORPORATE SERVICES (NEVADA) LIMITED
    http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=vBpwJvmpSvQCrkuj8HSAoA%253d%253d

    Manta:
    http://www.manta.com/c/mm2zpwq/m-f-corporate-service-nevada-ltd
    But don't visit the website listed: mfcorpserv.com - it now redirects to some kind of malware site. Fortunately, we can use the Wayback machine to see what the site DID look like. We have to go back to 2013 to see anything useful:
    https://web.archive.org/web/20131017085152/http://www.mfcorpserv.com/

    The MF Corporate Services offices are set up as independent contractors, not subsidiaries. From https://www.publicintegrity.org/2016/04/03/19506/offshore-law-firm-runs-trouble-las-vegas

    "The firm’s Panama-based co-founder, Jürgen Mossack, testified under oath that “MF Nevada and Mossack Fonseca do not have a parent-subsidiary relationship nor does Mossack Fonseca control the internal affairs or daily operations of MF Nevada's business.”

    Oh, Jurgen!

    More dirt here:

    http://factcheckargentina.org/wp-content/uploads/2015/03/2015.03.16-DOC-101-ORDER-Granting-in-Part-and-Denying-in-Part-14-Motion-to-Quash-and-60-Motion-to-Compel..pdf

    And finally from http://www.nakedcapitalism.com/2015/03/hsbcs-money-laundering-nightmare-1-mossack-fonseca.html

    "...Why is Mossack Fonseca styling itself “M.F.’? Silverstein has a plausible explanation:

    This sort of bogus separation is a tactic employed by many big shell-firm incorporators, because it allows the parent company to disavow any connection to its local offices if the shit hits the fan from a legal standpoint. It’s sort of like how Walmart might operate in Bangladesh, distancing itself from sweatshops by long and complex supply chains. (Like Walmart, Mossack Fonseca has never been directly prosecuted for the actions of its affiliates.) “These are seamless, vertically integrated top-down organizations until the minute that a cop or investigator comes along,” says Jack Blum, the money-laundering expert. “Then they disintegrate into a series of unconnected entities, and everyone swears they don’t know anything about anyone else in the system. It’s like a jigsaw puzzle that’s assembled but suddenly falls apart when someone starts investigating.”

    What an entertaining company.

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  5. Oh, sorry... from Manta again

    Mf Corporate Services Internat
    1541 Brickell Avenue # 1806
    Miami, FL 33129
    Phone: (305) 856-6121
    Olga Mas
    Principal

    http://www.manta.com/c/mr0jzkg/mf-corporate-services-internat

    And due to the not-so-clever trickery described above, they don't want the U.S. offices... er, 'independent contractors', easily identifiable or accessible from their main (Panama) corporate site at mossfon.com

    And as a testament to their crack data security thought, you can just go to their HK site and look up the contact information for Florida:

    http://www.mossfon.com.hk/en/g_map.html

    Which reveals Email:florida@mossfon.com

    But their not connected in any way, shape or form. Jurgen swears it!

    Ken: Maybe you should try to become a client. That would qualify you for the MF Club:

    "...Any customers who used the services of Mossack Fonseca can be a member of MF Club. The club members can enjoy preferential offers, and will have the opportunity to attend MF Club Thank-you Party..."

    http://www.mossfon.com.hk/en/mf_c.html

    That Thank-you Party has gotta be a real hoot. And you know they would have top-shelf cocaine there. I mean, with their 'clients' and all...

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  6. This comment has been removed by the author.

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  7. Olga may go by a few different names:

    Olga Santinidemas
    Olga Santini De Mas
    Olga S Demas
    Olga B Santini

    http://publicrecords.directory/profiles/olga-santinidemas.8255514.html

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  8. The first thing that comes to mind when considering personal financial management software is the process of budgeting.
    Budgeting is most certainly a very important aspect of good financial management, but it isn't the only one.
    We can see more:financial management

    ReplyDelete

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