Senior Government Officials linked to Law Firms that Incorporate Offshore Companies

Senior government officials in charge of drafting the country’s response to the highly damaging scandal that has erupted in the wake of the massive leak of documents from Panamanian law firm Mossack & Fonseca, have direct economic interests in firms specialized in incorporating offshore companies.

One of them, deputy foreign minister Luis Miguel Hincapié, admitted that his own law firm appears in the list of 11.5 million documents that have become subject of international scrutiny. Mr. Hincapié is partner in law firm Morgan & Morgan, which claims to be the largest of its kind in Central America and which, in addition to providing legal services, directly owns two in-house banks, one Bahamas and one in Panama.

Another high-profile government official, Gian Castillero, counsel to the Presidency of Panama on nothing less than financial matters, is also linked to another law firm, Arias Fábrega & Fábrega (Arifa), which has offices in London, Luxemburg, Geneva, Hong Kong, the British Virgin Island, and Belize, as well as Panama. 

A third official is none less than Mr. Dulcidio De La Guardia, Finance and Economics minister, also a Morgan & Morgan partner.  And for his part, Mr. Álvaro Alemán, Minister of the Presidency, is a partner in law firm firma Icaza, González Ruiz & Alemán.  His law firm specializes in commercial and tax law. All three law firms mentioned also specialise in the incorporation of offshore companies.