Law firm at centre of Panama Papers leak recommended Anglo branch to clients

A branch of Anglo Irish Bank was repeatedly recommended by the law firm at the centre of the 'Panama Papers' leak.

Mossack Fonseca, told clients the Anglo's branch in Austria would open off-shore accounts, to avoid tax, without disclosing the name of the "ultimate beneficial owner".

The claim, in today's Irish Times, is part of the biggest data leak in history, revealing the financial details of the world's rich and powerful.

A criminal investigation has been launched into the findings, amid allegations of wholesale tax dodging and money laundering.

Meanwhile, it is feared new US rules to limit relocating overseas, may negatively affect a merger between Irish pharmaceutical firm Allergan and New York-based Pfizer.

File photo

KEYWORDS: Panama papers


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