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Pandora Papers Leak: Secret Offshore Holdings of 35 Country Leaders, 130 Billionaires and Famous People

8th October 2021 | Hong Kong

The International Consortium of Investigative Journalists (ICIJ) has released the Pandora Papers, detailing secret offshore holdings of 35 country leaders, 130 billionaires and famous people including Great Britain Former Prime Minister Tony Blair, Jordan King Abdullah II, Sir Elton John, ex-model Claudia Schiffer, singer Shakira and Bernie Ecclestone (Formula 1).  In Asia, famous names include Masayoshi Son (Softbank), Anil Ambani (Reliance), Lee Jae Yong (Samsung), Hong Kong former Chief Executives CY Leung and Tung Chee-Hwa, Lim Kok Tay (Genting), Tony Fernandes (Air Asia) and Jho Low (Alleged Mastermind of Malaysia 1MDB Corruption Scandal).  Famous football names include Luis Suarez, Angel Di Maria, Pep Guardiola, Carlo Ancelotti, Roberto Mancini.  According to ICIJ, “the leaked records came from 14 offshore services firms that set up shell companies, and it is not possible to know how much of that wealth is tied to tax evasion, crimes, legitimate sources and reported to proper authorities.  For a few hundred or a few thousand dollars, offshore providers can help clients set up a company whose real owners remain hidden.” Watch: Pandora Papers

 


ICIJ: Pandora Papers – Leaked Names

Pandora Papers
Pandora Papers

Famous People:

  • Shakira, Singer
  • Claudia Schiffer, Model
  • Sir Elton John, Singer
  • Ringo Starr, (Former Member of The Beatles)
  • Bernie Ecclestone and Flavio Briatore, Formula 1
  • Carlo Ancelotti, Football Manger
  • Roberto Mancini, Football Manager
  • Pep Guardiola, Football Manager
  • Luis Suarez, Football Player
  • Angel Di Maria, Football Player

Business:

  • Masayoshi Son, Founder of Softbank
  • Anil Ambani, Chairman Reliance Group
  • Lee Jae Yong, Chairman of Samsung
  • Lim Kok Tay ,Chairman & CEO Genting
  • Tony Fernandes, Founder of AirAsia
  • Jho Low, Alleged Mastermind of Malaysia 1MDB Corruption Scandal

Leaders:

  • Jordan King Abdullah II
  • Ukraine President Volodymyr Zelenskyy
  • Czech Republic Prime Minister Andrej Babis
  • United Arab Emirates Prime Minister Mohammad bin Rashid Al Maktoum (Ruler of Dubai)
  • Qatar Emir Sheikh Tamim bin Hamad Al Thani
  • Great Britain Former Prime Minister Tony Blair
  • Hong Kong Former Chief Executive CY Leung
  • Hong Kong Former Chief Executive Tung Chee-Hwa
  • China Delegate Henan Province QIya Feng
  • Pakistan Finance Minister Shaukat Tarin
  • Pakistan Minister for Water Resources Moonis Elahi
  • Netherlands Minister of Finance Wopke Hoekstra

View:

 

ICIJ: Pandora Papers

The investigation reveals the secret deals and hidden assets of country leaders, Ambassadors, mayors and ministers,  presidential advisers, generals, central bank governor, billionaires, bankers, big political donors, arms dealers, international criminals, pop stars, spy chiefs and sporting giants.

The International Consortium of Investigative Journalists (ICIJ) obtained the trove of more than 11.9 million confidential files and led a team of more than 600 journalists from 150 news outlets that spent two years sifting through them, tracking down hard-to-find sources and digging into court records and other public documents from dozens of countries.

The leaked records come from 14 offshore services firms from around the world that set up shell companies and other offshore nooks for clients often seeking to keep their financial activities in the shadows. The records include information about the dealings of nearly three times as many current and former country leaders as any previous leak of documents from offshore havens.

At least $11.3 trillion is held “offshore,” according to a 2020 study by the Paris-based Organization for Economic Cooperation and Development. Because of the complexity and secrecy of the offshore system, it’s not possible to know how much of that wealth is tied to tax evasion and other crimes and how much of it involves funds that come from legitimate sources and have been reported to proper authorities.

For a few hundred or a few thousand dollars, offshore providers can help clients set up a company whose real owners remain hidden. Or, for perhaps $2,000 to $25,000, they can set up a trust that, in some instances, allows its beneficiaries to control their money while embracing the legal fiction that they don’t control it – a bit of paper-shuffling creativity that helps shield assets from creditors, law enforcement and ex-spouses.

View:

 

Pandora Papers: An Unprecedented Leak Exposes the Inner Workings of a Shadow Economy

 

 

Related:

Tax:

 



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