SPAIN’S INDUSTRY MINISTER JOSÉ MANUEL SORIA RESIGNS OVER PANAMA PAPERS

SOURCE: EL PAIS

Spain’s acting industry minister, José Manuel Soria, on Friday announced he was stepping down over his involvement in offshore companies.

The move comes at the end of a week when his name was linked to the Panama Papers, a trove of 11.5 million internal documents from a Panama-based law firm that was leaked to the media.

The politician also gave up his positions as congressional deputy and president of the Popular Party (PP) in the Canary Islands, his home region.

After initially denying allegations of his involvement in a Bahamas firm and a mirror company in Britain, Soria had agreed to appear in Congress next week to provide explanations.

But further emerging information about his alleged ties to a Jersey-based company put Soria up against the ropes on Thursday.

Both Soria and the PP had claimed that the acting minister was not present on the organization chart of any opaque company. But documents seen by EL PAÍS in the company register of Jersey island show his signature confirming that he was director of a company named Mechanical Trading Limited.

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