May 27, 2020

Panama Papers defendant agrees to forfeit over $5 million

On May 27, 2020, Harald Joachim Von der Goltz entered into a stipulated sentencing agreement with the Office of the United States Attorney for the Southern District of New York and the Money Laundering and Asset Recovery Section of the Department of Justice.  Goltz pleaded guilty to wire fraud, tax fraud, money laundering and false statements in February 2020.  The charges arose from Goltz’ alleged involvement in the use of fake organizations and multiple shell companies to evade US taxes and launder ill-gotten gains, as made public in the so-called Panama Papers.

Against a total statutory maximum term of imprisonment of 75 years for the nine count indictment, the sentencing agreement stipulates a range of 87 to 121 months, which, however, is not binding on the court.  The agreement also envisages a fine of $30,000 to $300,000, and requires Goltz to forfeit $5,373,609 — the amount traceable to the wire fraud and money laundering allegations – plus the funds in several banking and investment accounts, an apartment in Munich, and Massachusetts real estate worth $440,000.  In addition, Goltz agreed to make restitution for unpaid taxes, and to file amended tax returns for the years 2000 through 2017.  Goltz is scheduled to be sentenced on July 23, 2020.

Joint letter agreement