Investor in Rimac Automobili Used Services of Mossack Fonseca

After the International Consortium of Investigative Journalists published its findings, numerous countries began investigations. In the Croatian court registry, the name of the Panamanian law firm appears alongside the name of the Colombian Frank Kanajet, one of the investors in Rimac Automobili.

Following yesterday’s large protests in Iceland, the local Prime Minister resigned due to the Panama Papers scandal, when it was revealed that both he and his wife used offshore companies to hide investments. After the International Consortium of Investigative Journalists published its findings, numerous countries began investigations.

Three companies. Three clients, 22 shareholders. All of them are connected to the Panamanian firm Mossack Fonseca, from which over 11 million confidential documents have leaked. Whether any of them were involved in illegal activities is being investigated by the office for the prevention of money laundering. In the Croatian court registry, the name of the Panamanian law firm Mossack Fonseca appears alongside the name of the Colombian Frank Kanajet, one of the investors in Rimac Automobili.

– This is a commercial company that is legally and transparently registered in the United Kingdom, and the mentioned law firm only provided legal services for the establishment of the company NAD at the company’s headquarters at an address in London, United Kingdom. NAD is just one of many users of the services of the mentioned law firm and is not connected to any potentially questionable activities of the law firm’s business mentioned in recent days, said Rimac Automobili, as reported by N1.

In Slovenia, Serbia, and BIH, the number of owners of offshore companies established through the Panamanian firm is much higher than in Croatia, with former Severina’s husband Milan Popović and many others mentioned among them. Although synonymous with malfeasance, offshore companies are businesses whose operations are not tied to the country in which they were established, and as such, they are not illegal in themselves.

In addition to tax havens like Panama or the Virgin Islands, offshore companies are also known in the United Kingdom, Switzerland, and Liechtenstein. The leak of the Panamanian documents has raised the entire world, and many countries, like Germany, are seeking ways to combat illegal offshore companies. The Panama Papers, the largest leak of confidential information, will be investigated for a long time to come.