Eventually, the intermediary sent a short letter from a local BVI law firm, certifying that the company was upstanding.“[Globe] is in the business of receiving investor funds as an administrator centre with a brokerage firm,” it said. “The business being conducted by the company does not and will not violate in any respect any law or regulation of any governmental or official authority.”Mossack Fonseca was also sent a copy of what purported to be a payment-processing agreement between Globe and a Swiss-based business run by Anthony May, a British lawyer and client of the law firm’s Geneva office.None of the paperwork addressed the serious allegations referred to by Burrows. However, inquiries appear to have ended there. It is not known whether staff carried out internet searches he had suggested

Source: How Mossack Fonseca missed warning signs of £70m boiler room fraud | News | The Guardian