Police have raided the headquarters of Mossack Fonseca whose leaked documents have unleashed a global scandal over how the world's elite use offshore companies to hide their wealth.
German officials have reportedly seized €2 million from funds embezzled by a former manager at Siemens. The German company's slush fund was disclosed in last year's leaked Panama Papers.
The two founding partners of the Panama law firm Mossack Fonseca have been granted bail. Jürgen Mossack and Ramon Fonseca were arrested in February as part of a separate probe involving widespread corruption in Brazil.
Panama has broken links with Taiwan and established formal relations with China. The communist state is the second-biggest client of the Panama Canal.
Panama's attorney general's office has reportedly searched the offices of the Mossack Fonseca law firm to look for any evidence of illegal activities. The law firm has denied any wrongdoing.
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