Developments-fire on the Cypriot lawyers of the “Panama”

Significant progress has been made with regard to the cyprus aspect of the world …
scandal of tax evasion, known as “documents of Panama”.
According to reliable information of the newspaper “Today”, one of the investigations carried out separately by the competent supervisory Authorities, namely the Cyprus Bar Association has been completed!
Concerning possible involvement of law firms Cyprus-based, illegal transactions, tax evasion and money laundering in connection with the case “Panama”.
The investigation carried out five officers of the Bar Association, who evaluated data woman they fished out with on-the-spot checks in a number of law offices that are listed in the “documents of Panama”, which, as is well known, leaked last April on the internet.
As we are informed, by the microscope of the officers have been directors and shareholders of various law firms based in Cyprus.
Full picture for any offences
Authoritative sources reported on “Today” that the five workers now have a complete picture of whether they have been committed, and by whom, disciplinary nature of offences. However, the same sources stressed that the legislation prohibits the Bar Association in the publication of the findings.
On the basis of νενομισμένης process, the outcome of the investigation has already served on the Executive Committee of the Cyprus Bar Association, which is now expected to decide whether to refer cases to the Disciplinary Board of the Association, which has the power to impose penalties of a fine up to and deletion of names from the register of lawyers.
Will be updated ΜΟΚΑΣ and Tax
In addition, depending on the findings, the Executive Committee of the Cyprus Bar Association may inform other competent Authorities.
For example, if there is a reasonable suspicion for committing criminal offences, such as tax evasion and money laundering, then the Bar Association must inform the Department of Taxation and the Unit for Combating money laundering (mokas) for further investigation.
A office wrote nearly all of the companies
In addition, all companies listed in the “documents Panama” were recorded in the register of the Registrar of Companies by law firms based in Cyprus.
It is observed that the documents of a particular law firm – whose name, for obvious reasons don’t publish – subscribe the vast majority of these companies, while an important share of the records had at least three other law firms.
Continue other investigations
Apart from the Bar Association in development are separate surveys for the documents to Panama, the Department of Taxation, the Central Bank and the Securities and exchange Commission.
Source