Chronicles: Monte Friesner
April 12, 2016
HOW MOSSACK FONSECA CLIENTS GOT THEIR DIRTY CASH INTO PANAMA
Readers who were wondering exactly how all those corrupt politicians managed to get their bribe & kickback money into Mossack Fonseca's wealth management division, allow me to explain. They used the notorious VIP Arrivals Lounge at Panama's principal airport, Tocumen International, and walked their cash right in, free of any inspection or examination.
Most Latin American countries have a Very Important Persons facility at their international airports; while they were designed for the wealthy upper class, to allow them to avoid long customs lines, they unfortunately allow anyone lucky enough to have the connections to gain entry to totally evade any customs inspections, which is a boon for money launderers and bulk cash smugglers.
In Panama, the parties are met upon arrival, and prior to formal entry into the customs and immigration lines. They are taken into VIP lounge, and can then immediately pass through, with all their possessions free from any inspectors, or questioning. Arrival/departure cards are processed, and they soon depart for Panama City. This is how foreign officials, or their bulk cash smugglers, gain unfettered entry into Panama, and the preferred route for many a Mossack Fonseca client over the last forty years.