PANAMA PAPERS: German pharmaceuticals industry paper reports on Konrad Mizzi story

The news and information portal for Germany’s pharmaceuticals industry, Apotheke Adhoc, has reported on Konrad Mizzi’s involvement in Panama Papers.

The piece is translated beneath.

MALTA’S HEALTH MINISTER UNMASKED

Berlin – One of the ‘power players’ in the Panama Papers is Malta’s Health Minister, Dr. Konrad Mizzi, who is involved in transactions with shell companies in Panama. This has been revealed through leaked documents that have been evaluated by numerous journalists. Mizzi is accused of having put his money in offshore companies using the services of Mossack Fonseca.

In February, Mizzi had been reported to have been involved in a Panama-registered letterbox company, and after an examination by the tax authorities he decided that the company, which is designed for anonymity, should be dissolved. He will keep his trust in New Zealand, which owns the offshore company. Mizzi and his family are among the beneficiaries of the trust.

The politician is currently a Member of Parliament and Minister of Health and Energy. In 2013 he was elected to parliament and since February he is deputy party chairman of the ruling Labour Party. As a representative of the Republic of Malta, Mizzi typically takes part in meetings of the Council of the European Union. He also managed large projects in the energy and telecommunications sector in Malta and the UK.

Millions of documents related to shell companies in tax havens have been revealed in the Panama Papers. The companies were set up by the law firm Mossack Fonseca, managed and sold through middlemen. The revelations have caused a lot of excitement in recent days: numerous celebrities, politicians, former and current leaders and sports officials are among the clients of the firm.