The Americas

Panama to work "vigorously" to investigate offshore accounts

Panama's president says his government will cooperate "vigorously" with any judicial investigation arising from the leak of a vast trove of information on the offshore financial dealings of the world's rich and famous.

An international coalition of media outlets Sunday published investigations it said stemmed from the leak of 115 million records kept by the Panama-based law firm Mossack Fonseca on behalf of clients.

President Juan Carlos Varela said in a statement that the revelations shouldn't detract from his government's "zero tolerance" for any illicit activities in Panama's finance industry.

Ramon Fonseca, a co-founder of the law firm whose documents were leaked, told Panama's Channel 2 that the firm isn't responsible for any criminal activity carried out with offshore vehicles created for clients.