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Panama Papers Could Reveal Information on South Africa Fraud Scandal

panama papersPretoria, Apr 5 (Prensa Latina) The leak of the so-called Panama Papers could help trace the millions of dollars, stolen in one of the biggest white-collar crimes in South Africa, sources say.

Experts say that the revelations would shed light on the issue. Since 2006, authorities have been trying to find the money defrauded by the Fidentia group out of 60 thousand people, including minersâ�Ö widows and orphans who benefitted by a trusteeship controlled by the entity.

The new revelations suggest that Graham Maddock, one of the individuals involved in the fraud, paid the Panamaâ�Ös law firm Mossack Fonseca- center of the scandal- 59 thousand dollars in 2005 and 2006.

The amount was aimed at creating two series of offshore companies (tax havens), including one called Fidentia North America.

Mossack Fonseca also created offshore structures for Steven Goodwin, who, according to attorneys, had a fundamental role in the Fidentia fraud.

In December 2014, Fidentiaâ�Ös former director general J Arthur Brown, was sentenced by the South African Court of Appeals, arguing he acquired large amounts of capital from clients for investment through fraudulent representation.

Livhuwani Mammburu, spokesman for the Minersâ�Ö National Union, said "we would be delighted if that money is recovered and given back" to the beneficiaries.

The Panama Papers also mention Khulubuse Zuma, President Jacob Zumaâ�Ös nephew, for representing Caprikat Limited, one of the two companies that acquired oil fields in the Democratic Republic of Congo, in a controversial deal.

The Mossack Fonseca law firm has established more than 240 thousand companies like this for clients worldwide.

The leak by the International Consortium of Investigative Journalists (ICIJ) includes over 11.5 million documents from the files of Mossack Fonseca, and exposed the secret details of hundreds of thousands of clients globally.

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