"Panama papers" law firm to close this month

Mossack Fonseca, the legal firm at the centre of the Panama papers scandal, is to close by the end of this month.

A statement obtained by the the International Consortium of Investigative Journalists clamed "The reputational deterioration, the media campaign, the financial siege and the irregular actions of some Panamanian authorities", which had "caused irreparable damage, whose obligatory consequence is the total cessation of operations to the public".

The firm would "continue to call for justice" and assist authorities to "demonstrate that no crime has been committed".

Around 11.5 million files held by the firm were leaked in 2016, uncovering the offshore financial activities of many leading figures including politicians and 12 current or former heads of state among others, and some 214,000 offshore entities.

Founded in 1977, before the scandal Mossack Fonseca was the world’s fourth-biggest provider of offshore services. 

A small section of staff will remain in order to comply with requests from authorities and other public and private groups.