'Panama Papers' law firm announces it is closing down

 'Panama Papers' law firm announces it is closing down
Mossack-Fonseca firm.

The Panamanian law firm whose more than 11 million leaked documents known as the "Panama Papers" shed light on how the world's wealthy exploit financial secrecy to hide assets has said it is closing at the end of March.

The data breach from the Mossack-Fonseca firm was published by an international consortium of journalists and shook the ranks of the rich and powerful.

The firm's statement said that at one time it had offices in 40 countries and some 600 employees. But after the 2016 publication of so many secrets it has closed offices and pared its staff to about 50.

The International Consortium of Investigative Journalists shared the 2017 Pulitzer Prize for explanatory reporting with McClatchy and the Miami Herald for their reporting on the Panama Papers.

- PA

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