A warning to take immediate cover was issued on the NHC Twitter account, at 11 a.m. EDT on September 1, 2019, as Dorian made landfall in Elbow Cay, Bahamas, at 16:40 UTC as a Category 5 hurricane. Samuel Butler, the Royal Bahamas Police Force assistant commissioner with responsibility for Grand Bahama and the Northern Region (Abaco, Bimini and the Berry Islands), told residents "if you do not heed to the warning [...] we know that the end could be fatal" and Don Cornish, the administrator with the City of Freeport told others seeking shelter at Old Bahama Bay Hotel "that is not a good idea [...] reconsider that decision".
HSBC also appeared to reassure Mossack Fonseca not only that it was "comfortable" with Makhlouf as a client but suggested there could be a rapprochement with the Assad family by the US. Makhlouf is already known to be a long-standing client of HSBC's Swiss private bank, holding at least $15 million with it in multiple accounts in 2006. The Panamanian files also show HSBC provided financial services to a Makhlouf company called Drex Technologies, which HSBC said was a company of "good standing".
More InfoSoon the filings almost covered the island's year budget. The US government however made official noises in 2001 about laundering criminal proceeds and Chase Bank blacklisted the island and Bank of New York followed suit. This caused inconvenience to the population so they let their contract with Mossack Fonseca expire and many of the privacy-seekers on the banking world moved on. Some did stay however, apparently; the Panama Papers database lists nearly 10,000 companies and trusts set up on Niue, population 1200.
More InfoAt 16:40 UTC on September 1, Dorian made landfall on Great Abaco Island in the Bahamas, with one-minute sustained winds of 185 mph (298 km/h), wind gusts over 220 mph (355 km/h), and a central barometric pressure of 910 millibars (27 inHg), as Dorian reached its peak intensity during landfall. Storm chaser Josh Morgerman observed a pressure of 913.4 mbar (26.97 inHg) in Marsh Harbour. Dorian's forward speed decreased around this time, slowing to a westward crawl of 5 mph (8.0 km/h). At 02:00 UTC on September 2, Dorian made landfall on Grand Bahama near the same intensity, with the same sustained wind speed. Afterward, Dorian's forward speed slowed to just 1 knot (1.2 mph; 1.9 km/h), as the Bermuda High that was steering the storm westward weakened. Later that day, the storm began to undergo an eyewall replacement cycle to the north of Grand Bahama; the Bermuda High to the northeast of Dorian also collapsed, causing Dorian to stall just north of Grand Bahama. Around the same time, the combination of the eyewall replacement cycle and upwelling of cold water caused Dorian to begin weakening, with Dorian dropping to Category 4 status at 15:00 UTC. Due to the absence of steering currents, Dorian stalled north of Grand Bahama for about a day. Dorian subsequently weakened to a Category 2 storm on September 3, before beginning to move northwestward at 15:00 UTC, parallel to the east coast of Florida, with Dorian's wind field expanding during this time.
More InfoMossack Fonseca, required by international banking standards to avoid money-laundering or fraudster clients, is, like all banks, supposed to be particularly alert for signs of corruption with politically exposed persons (PEP), in other words, clients who either are or have close ties to government officials. However they somehow failed to turn up any red flags concerning Tareq Abbas even though he shares a family name with the president of Palestine, and sat on the board of directors of a company with four fellow directors the firm did deem PEP because of their ties to Palestinian politics. Yet Mossack Fonseca actually did and documented due diligence research, including a Google search.
More InfoThe Municipality of Regulation and Supervision of Financial Subjects [not the Ministry of Economy and Finance (MEF)] initiated a special review of the law firm Mossack Fonseca to determine whether it had followed tax law. Carlamara Sanchez, in charge of this proceeding, said at a press conference that the quartermaster had come to verify whether the firm had complied since April 8 with due diligence, customer knowledge, the final beneficiary and reporting of suspicious transactions to Financial Analysis Unit (UAF) operations. She said that Law 23 of 2015 empowers regulation and supervision and said some firms had been monitored since late last year with special attention after the Panama Papers, and noted that the law carries fines $5,000 to $1 million or even suspension of the firm.
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