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Argentina court upholds closure of probe targeting president

A court in Argentina is upholding a decision to close a money-laundering investigation into President Mauricio Macri’s role in two offshore companies named in the massive leak of law firm documents known as the Panama Papers.

Thursday’s decision ratifies a previous ruling that found no proof of suspicious transactions or accounts. But the court said Macri will still be probed for possible tax evasion.

Macri says the companies were family businesses but he was not a shareholder and did not receive compensation. He has set up a blind trust to handle his financial holdings in response to criticism over the revelations.

The case was initially launched by a prosecutor seeking to investigate whether Macri “maliciously” omitted his role in the companies in tax declarations.

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