Page 15 - CORRUPTION LATAM

MONTT GROUP MAGAZINE - 2024
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officials, intermediaries and members of another of the bidders for active bribery, influence peddling and collusive practices.
No public official was prosecuted, as it was considered that there was no evidence that they actually received the bribes.
As in other cases, this situation could only be demonstrated due to the existence of the Foreign Corrupt Practices, Fcpa in the United States.
Finally, a Compliance Program was implemented (rated by the Dow Jones Sustainability Index as the best regulatory compliance system in the world), which allowed for a cultural change, achieving the company’s survival to this day and becoming a global model.
the panama papers
Another emblematic case was the so-called Panama Papers, an event that occurred eight years ago, whose trial only began last April. This is a global journalistic investigation led by the International Consortium of Investigative Journalists, which publicized the offshore businesses of international politicians, businessmen, athletes and celebrities, through the leak of 11.5 million internal documents from the Panamanian law firm Mossack Fonseca. This press investigation is considered the largest in the history of journalism, and it had and continues to have the greatest impact worldwide.
They were leaked by an anonymous source to the German newspaper Süddeutsche Zeitung, and shared by the Consortium of Journalists with more than 370 members of the organization in 76 countries. The information included data from bank accounts and 214,488
offshore companies connected to more than 200 countries. Until the first journalistic revelations known worldwide simultaneously on April 3, 2016, the vast majority of these firms created in jurisdictions considered tax havens - due to their low or no taxation and the anonymity of their owners - remained hidden. Although their constitution is legal, they had been used for spent decades evading taxes, hiding assets, laundering or well hide money from organized crime.
according to some experts, the Work carried out in argentina is a good exampLe to see hoW three concepts operate in practice: bribes, coLLusion and the coLLoquiaL pantoufLage, or revoLving doors, in the sense that a senior government officiaL subsequentLy Joins in private companies With positions of responsibiLity.
Since April 2016, the Panama Papers revelations led to the opening of numerous legal cases around the world, including several in Latin America. Politicians, businessmen and lawyers were accused before the courts and in several cases, such as in Panama, Ecuador and Bulgaria, even detained.
Among the figures among that group were the former Prime Minister of Iceland, Sigmundur David Gunnlaugsson; that of Pakistan, Nawaz Sharif and that of the United Kingdom, David Cameron, as well as the former President of Argentina, Mauricio Macri and even the footballer Lionel Messi and the Spanish filmmaker Pedro Almodóvar.
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