One of the shareholders in Energy Minister Konrad Mizzi's secret Panama company is linked with a number of other shell companies that have been involved in major corruption scandals. The Panama Papers, published on Monday by the International Consortium of Investigative Journalists (ICIJ) show that Leticia Montoya Moran, who works for the Panama firm Mossack Fonseca, whose data was leaked, is listed as a director or shareholder in at least 10,000 shell companies. The Panama Papers show that Ms Montoya Moran holds shares in Dr Mizzi's company in Panama called Hearnville Inc. Dr Mizzi is the ultimate owner of this company, which he now says will be closed. One of the Panama shell companies Ms Montoya Moran was linked with –Nicstate – was used by former Nicaraguan president Arnold Alemán to divert nearly€87 million in state funds into his own account. Vice News reports that Ms Montoya Moran also had a hand in setting up the shell company Mirror Development Inc. Mirror Development Inc was reportedly used by the German energy and engineering giant Siemens to give kickbacks to Argentinian government officials,who helped it win a lucrative €877 million contract.
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