Latest: More than 300 firms in Ireland linked to ‘Panama Papers’; Iceland’s PM faces no confidence vote

More than 300 companies in Ireland have been linked to the so-called 'Panama Papers' release.

The leak of secret off-shore accounts includes the names of some of the world's most prominent politicians, celebrities and sport stars.

The law firm in Panama at the centre of the leak - Mossack Fonseca - denies any wrongdoing.



Update - 12.40pm: The political future of Iceland's prime minister is in danger because of his reported links to an offshore account in the British Virgin Islands.

Sigmundur David Gunnlaugsson faces a vote of no confidence in parliament after news reports linked him and his wife to an account that was created with the help of a Panamanian law firm at the centre of a massive tax evasion leak.

The revelation concerns offshore company Wintris Inc, which Mr Gunnlaugsson allegedly set up in 2007 along with his wife Anna Sigurlaug Palsdottir.

The opposition has called for a vote against the centre-right government. Public protests are also scheduled outside parliament.

Mr Gunnlaugsson, the head of the centre-right Progressive Party, began his four-year term in 2013, five years after Iceland's financial collapse.

Update - 12.10pm: Russia says President Putin is the "main target" in leaked documents from Panama, but he is not linked to any offshore activity.

A marquee of the Arango Orillac Building lists the Mossack Fonseca law firm in Panama City. Pic: AP

Earlier: A company registered on Botanic Avenue in Drumcondra, Dublin, has been linked to international arms deals in India, the Philippines and elsewhere.

It is reported that the documents show that Intertrade Projects Consultants Ltd, a company with a registered address on Botanic Avenue in Drumcondra, north Dublin, acted as a sales agent for customers which included one of the world’s largest aerospace and defence conglomerates.

The Italian firm, Finmeccanica, deals in military aircraft, torpedoes, and electronic warfare equipment.

Intertrade Projects Consultants is 19 years old, and has one shareholder.

A second firm involved in the leak is said to be a trust and secretarial service called Pegasus Trusts and it is reported that this is a very small part of their business.

The company is shown to have acted as an intermediatory between Intertrade and Mossack Fonseca.

Pegasus told The Irish Times that these clients are historical and that no new clients have been taken on in over a decade.

“The services we provided to these companies, and to Intertrade specifically, were of a company secretarial/administrative nature. We had no decision-making role in any of these companies, including Intertrade,” the company added.

Reacting to the publication, Oxfam Ireland's chief executive Jim Clarken said that the most vulnerable people are still footing the bill for the wealthy.

He said: "The most vulnerable people here in societies here in Ireland and elsewhere are the ones that are denied the access to services because governments can't pay for them".

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