Solon urges immediate probe of Filipinos implicated in ‘Panama Papers’

Kabataan Partylist Rep. Terry Ridon on Tuesday called for the immediate investigation of Filipinos and Philippine-based companies implicated in the so-called “Panama Papers” released by the International Consortium of Investigative Journalists (ICIJ).

Ridon urged the Department of Justice, Office of the Ombudsman, and government prosecutors to look into the leaked documents that included 40 companies, 42 beneficiaries, and 330 shareholders in the Philippines.

“The government must seriously look at these papers and investigate names and companies listed here. If anything, this has the potential to become the single most important tax evasion probe in recent history,” he said.

“The documents must be fully reviewed, and individuals and companies involved must be investigated for possible tax evasion, money laundering, and the amassing of ill-gotten hidden wealth,” Ridon said.

“Financial prosecutors, in particular, must immediately probe public figures and government officials currently holding office for the possible use of offshore accounts to hide ill-gotten wealth and conduct financial activities linked to corruption,” Ridon said.

France, Germany, Australia, Austria, Sweden and the Netherlands have already started investigations on persons and companies involved in the “Panama Papers.” —Joseph Tristan Roxas/KG, GMA News