August 14, 2018

Spanish minister resigns over row in Panama papers

Spanish minister resigns over row in Panama papers

Spain’s industry, energy and tourism minister has resigned with immediate effect after alleged links to offshore dealings emerged in the Panama Papers.

José Manuel Soria denied any wrongdoing and said he was stepping down to limit any damage to the conservative People’s party (PP) caretaker government, which has been in place since inconclusive national elections in December.

On Monday Soria denied all links to an offshore company in the Bahamas set up by the Panamanian legal firm Mossack Fonseca, after he and his brothers were named as administrators. He also said he had no links to UK Lines, a sister company in Jersey.

It later emerged in separate media reports that he had been president of Jersey Mechanical Trading Ltd, formerly UK Lines, an offshore company that dealt in agricultural produce from the Canary Islands, where he was the local PP leader. Read more

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