Gonzalo Delaveau, president of the Chilean chapter of Transparency International, has thrown in the towel after his name came up in the Panama Leaks–a trove of documents exposing how well heeled individuals across the globe floated offshore companies in the tax haven of Panama.

Transparency international champions values of accountability and openness in governments and corporations around the world and Delaveau who didn’t do anything wrong in the leaks, thinks his name coming up at all, is enough reason to yield ground.

“We are deeply troubled by what has happened with the Chair of our chapter in Chile,” José Ugaz, chair of Transparency International, wrote in a statement on Tuesday.

“At Transparency International we stand for transparency and integrity above all else and once we learned of Delaveau’s involvement with secret companies, our International Board began the process of suspending the chapter before possible dis-accreditation. With Delaveau’s resignation, our Board decided to halt its efforts to sanction the chapter.”

Mr. Delaveau’s name was linked to no fewer than five offshore companies.

“While Delaveau is not reportedly accused of illegal activity, and he may be able to explain his activities, for us that is not the point,” Mr. Ugaz wrote.

“Not all secret companies are illegal, but many are used to hide money flows and to support acts of corruption. As we said yesterday in a press release about the Panama Papers investigation: Transparency International wants public registers of all companies’ beneficial owners to make it harder for the corrupt to hide their illicit wealth in secret companies and trusts that use nominees to register ownership.”

Delaveau’s resignation came after Chile’s tax authority announced it would begin investigations into Chileans mentioned in the Panama Papers.