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Panama Papers: Mossack Fonseca link to Brink's Mat robbery Panama Papers: Mossack Fonseca link to Brink's Mat robbery
(35 minutes later)
A huge leak of confidential documents has revealed some of the cash from one of Britain's most notorious crimes was laundered using a company set up by a Panamanian law firm.A huge leak of confidential documents has revealed some of the cash from one of Britain's most notorious crimes was laundered using a company set up by a Panamanian law firm.
Documents show Mossack Fonseca formed a company that was used to launder money from the 1983 Brinks Mat robbery. Documents show Mossack Fonseca formed a company that was used to launder money from the 1983 Brink's Mat robbery.
The stolen bullion, worth £26m at 1983 gold prices, disappeared offshore.The stolen bullion, worth £26m at 1983 gold prices, disappeared offshore.
Mossack Fonseca says it cannot comment on specific cases and it has never been charged with criminal wrong-doing.Mossack Fonseca says it cannot comment on specific cases and it has never been charged with criminal wrong-doing.
Commenting "would be a breach of our policies and legal obligation to maintain client confidentiality", it said.Commenting "would be a breach of our policies and legal obligation to maintain client confidentiality", it said.
The revelations came as part of a leak of 11 million documents showing how Mossack Fonseca helped some of the world's wealthiest and most powerful people to launder money, dodge sanctions and evade tax.The revelations came as part of a leak of 11 million documents showing how Mossack Fonseca helped some of the world's wealthiest and most powerful people to launder money, dodge sanctions and evade tax.
Panama Papers reaction - latestPanama Papers reaction - latest
These leaked documents also show that offshore companies set up by Mossack Fonseca have been used by law abiding financial advisers including the UK prime minister's late father Ian Cameron, who died in 2010.
They show he set up an investment company called Blairmore, based in the Bahamas, and issued bearer shares so that the identity of its investors was disguised.
In recent years, David Cameron has led calls for an international crackdown on tax avoidance and evasion.
Panama Papers - tax havens of the rich and powerful exposedPanama Papers - tax havens of the rich and powerful exposed
Masked robbers raided the Brink's Mat warehouse near Heathrow in 1983 and escaped with three tonnes of gold.Masked robbers raided the Brink's Mat warehouse near Heathrow in 1983 and escaped with three tonnes of gold.
Leaked documents show in 1985 Mossack Fonseca set up a company called Feberion for a property dealer called Gordon Parry in 1985.Leaked documents show in 1985 Mossack Fonseca set up a company called Feberion for a property dealer called Gordon Parry in 1985.
An internal memo circulated the following year shows that Mossack Fonseca was warned that Parry was laundering money from the Brink's Mat robbery.An internal memo circulated the following year shows that Mossack Fonseca was warned that Parry was laundering money from the Brink's Mat robbery.
It was written by Jurgen Mossack - one of the firm's founders - following a meeting with an associate who was helping to run Feberion.It was written by Jurgen Mossack - one of the firm's founders - following a meeting with an associate who was helping to run Feberion.
It says: "He informed me that the owner of this company apparently is involved in the management of money which represents proceeds from the famous theft from Brink's Mat in London.It says: "He informed me that the owner of this company apparently is involved in the management of money which represents proceeds from the famous theft from Brink's Mat in London.
"The company itself has not been used illegally, but it could be that the company invested money through bank accounts and properties that was illegitimately sourced."The company itself has not been used illegally, but it could be that the company invested money through bank accounts and properties that was illegitimately sourced.
"They want to resign as directors and suggest that we do the same.""They want to resign as directors and suggest that we do the same."
Jurgen Mossack didn't immediately resign as a director, even though he knew that Feberion was being used to launder stolen cash.Jurgen Mossack didn't immediately resign as a director, even though he knew that Feberion was being used to launder stolen cash.
Feberion was owned by two bearer shares, which meant that whoever held the share certificates had control of the company.Feberion was owned by two bearer shares, which meant that whoever held the share certificates had control of the company.
British detectives investigating the robbery had seized possession of the two shares, making it impossible for Parry or the company to transfer any funds.British detectives investigating the robbery had seized possession of the two shares, making it impossible for Parry or the company to transfer any funds.
But on 3 September 1987, Feberion issued 98 new shares and Parry regained control of the company.But on 3 September 1987, Feberion issued 98 new shares and Parry regained control of the company.
Parry was finally caught in 1990. He was sentenced to 10 years in prison after being convicted of laundering the money conspiracy in 1992. Parry was finally caught in 1990. He was sentenced to 10 years in prison in 1992 after being convicted of laundering money from the robbery.
Gerard Ryle, director of the International Consortium of Investigative Journalists (ICIJ), said the leaked documents covered the day-to-day business at Mossack Fonseca over the past 40 years.Gerard Ryle, director of the International Consortium of Investigative Journalists (ICIJ), said the leaked documents covered the day-to-day business at Mossack Fonseca over the past 40 years.
"I think the leak will prove to be probably the biggest blow the offshore world has ever taken because of the extent of the documents," he said."I think the leak will prove to be probably the biggest blow the offshore world has ever taken because of the extent of the documents," he said.
The documents show 12 current or former heads of state and 60 people linked to current or former world leaders in the data.The documents show 12 current or former heads of state and 60 people linked to current or former world leaders in the data.
Revelations include:Revelations include:
In a statement, Mossack Fonseca said: "Your allegations that we provide structures supposedly designed to hide the identity of the real owners, are completely unsupported and false.In a statement, Mossack Fonseca said: "Your allegations that we provide structures supposedly designed to hide the identity of the real owners, are completely unsupported and false.
"We do not provide beneficiary services to deceive banks. It is difficult, not to say impossible, not to provide banks with the identity of final beneficiaries and the origin of funds.""We do not provide beneficiary services to deceive banks. It is difficult, not to say impossible, not to provide banks with the identity of final beneficiaries and the origin of funds."
Jennie Granger, a spokeswoman for the UK's tax authority, HM Revenue and Customs (HMRC), said the organisation had received "a great deal of information on offshore companies, including in Panama, from a wide range of sources, which is currently the subject of intensive investigation".Jennie Granger, a spokeswoman for the UK's tax authority, HM Revenue and Customs (HMRC), said the organisation had received "a great deal of information on offshore companies, including in Panama, from a wide range of sources, which is currently the subject of intensive investigation".
She said the ICIJ had been asked to share all its data with HMRC.She said the ICIJ had been asked to share all its data with HMRC.