Panama firm wrongly used “Red Cross” name to hide money trail

The law firm at the centre of the Panama offshore accounts scandal routinely usurped the name of the Red Cross and other charities to help obscure the origin of millions of dollars in questionable funds, two newspapers involved in the investigation reported Sunday. There’s no suggestion that the charitable groups had any idea their name was being used in this way.   France’s Le Monde and Switzerland’s Le Matin Dimanche said Mossack Fonseca created dummy foundations with high-minded names such as the “Faith Foundation” to hold shares in around 500 offshore companies. The foundation’s beneficiary was routinely listed as...

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