Argentinean President Promises Cooperation in Panama Papers Probe

El presidente Macri ha insistido que las operaciones de su familia con sociedades offshore son legales (Infobae)
President Macri has insisted that his family’s businesses using offshore accounts mentioned in the #PanamaPapers are legal. (Infobae)

EspañolArgentina President Mauricio Macri said he would cooperate with investigations into his involvement with two offshore companies based in Panama and the Bahamas.

“Sounds good to me,” Macri said. “You should make all necessary inquiries to confirm if what I said is true or not.”

He also stated authorities have to work on his case “independently” of those involving former President Cristina Kirchner.

Federal Judge Sebastian Casanello told authorities in the Bahamas and Panama to investigate the firms in which the president is linked in the #PanamaPapers. Casanello said he wants to know if Macri was a shareholder in Fleg Trading Ltd (located in the Bahamas) and Kagemusha SA (located in Panama) — as requested by Prosecutor Federico Delgado in his complaint.

Casanello also said he wants to investigate the relationship between the firms and Macri, the make-up of those firms and their commercial and financial structures.

Macri was accused of being linked to the companies after the #PanamaPapers leak revealed he was in charge of them starting in 1998. The board was registered in the Bahamas as Fleg Trading Ltd. The company would have worked up until 2009.

The prosecutor asked Casanello to open a case against President Macri to determine if he “maliciously” omitted his involvement with those firms in any legal documents. He also requested that they investigate any other irregular activity in Fleg Trading Ltd.

Macri has insisted business operations were handled by his father Mariano Franco, who also helped run the companies, and who had the intention of investing in Brazil with his company Pago Fácil.

“The company ceased operations in 2008 because it did not make that investment,” Macri said when the Panama Paper leaks came to light. “Everything is perfect. There is nothing strange. The DGI was informed of it.”

Source: La Nación.

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