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#PanamaPapers: Argentina’s President denies link with offshore company

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Panama Papers: Argentina's President denies link with offshore company
Argentina’s President, Mauricio Macri has denied any links with offshore company Mossack Fonseca which specialises in setting up offshore companies.
After the leaked documents showed he had links with the offshore company, a federal prosecutor called for Macri’s investigation but the embattled president says he has nothing to hide.
Macri, the son of an Italian-born business tycoon said he was not legally obliged to declare his connection with the named offshore company because he never had a stake in it.
The president said he was simply director of the Bahamas-based company, Fleg Trading Ltd., now closed, which was created by his father to make investments in Brazil.
“I have acted in accordance with the law and have nothing to hide,” Macri said in a televised news conference.
“I did not receive any payment for acting as a director [of offshore companies]. Tomorrow [Friday] I will present myself before the court with all information necessary for the judge to verify that what I have done is correct. I am calm. I have obeyed the law. I have nothing to hide.”
Critics in Argentina say Macri owes a more than a thorough explanation of this and his alleged connection with another offshore company, Kagemusha SA, registered in Panama, given that such firms are often used to launder money and evade taxes.
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