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  • U.S. Senator Elizabeth Warren takes part in the Washington Ideas Forum in Washington, Oct. 1, 2015.

    U.S. Senator Elizabeth Warren takes part in the Washington Ideas Forum in Washington, Oct. 1, 2015. | Photo: Reuters

Published 8 April 2016

Two U.S. Senators demanded a Treasury Department investigation into offshore banking revelations.

Senators Elizabeth Warren and Sherrod Brown on Thursday urged the U.S. Treasury to investigate whether any United States or entity linked to the country was involved with the law firm Mossack Fonseca, at the heart of the Panama Papers leak on offshore wealth.

Panama Papers Leak: Tax Evasion Probes Underway

“We strongly urge the Treasury Department to exercise its full authority to investigate whether any U.S. or U.S.-linked company or person involved with Mossack Fonseca may have facilitated money laundering, terrorist financing or other illegal activity, including with any U.S.-designated persons,” the senators, both Democrats, wrote in a letter to Treasury Secretary Jack Lew.

Among their concerns, Warren and Brown said they were worried by leaked files showing the firm’s dealing with at least 33 people and companies blacklisted by the United States due to evidence they were working with “Mexican drug lords, and terrorist organizations.”

Panama Papers: Macri Implicated in Offshore Tax Haven Scandal

The Justice Department announced earlier this week it was launching its own investigation into the Panama Papers, which revealed how the rich use tax havens to hide their wealth.

But Warren and Brown asked that the Treasury Department initiate its own investigation, requesting a response from the agency by May 9.

When contacted for comment on Friday, a spokesperson for Senator Warren would not comment specifically on the U.S. Treasury request. Meanwhile, Senator Brown’s spokesperson could not be reached for comment.

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