Secret offshore wealth of world leaders revealed in 12 million file leak called Pandora Papers
The secret offshore assets of more than 300 world leaders, politicians and millionaires are exposed to one of the biggest financial data breaches to date.
This document, called Pandora Paper, shows how 35 current and former world leaders, including Tony Blair and Vladimir Putin, used tax haven accounts to earn and trade huge fortunes. to augment.
The dossier consists of 12 million documents from 14 financial services companies in countries such as the British Virgin Islands, Panama, Belize, Cyprus, the United Arab Emirates, Singapore and Switzerland.
They were obtained by the International Consortium of Investigative Journalists (ICIJ) and then investigated by more than 650 journalists from BBC Panorama, Guardians and other media.
They revealed that former British Prime Minister Vladimir Putin and his wife Sherry bought an offshore company that has an office in London and saved around $ 434,000 (£ 321,000) in stamp duty. Russian President Vladimir Putin is in Monaco.
Meanwhile, King Jordan was able to secretly add £ 70million in assets to his UK and US portfolios, mostly in Malibu, California, London and Ascot.
Azerbaijani President Ilham Aliyev, his family and close associates used offshore accounts to earn over £ 400million in the UK.
This document, called Pandora Paper, describes how 35 current and former world leaders, including Tony Blair (pictured) and Vladimir Putin, used tax haven accounts to earn and trade huge fortunes. Is shown.
Many transactions carried out by tens of thousands of different offshore companies do not involve legal fraud, but reveal how the UK government has not promised to register the registration of offshore property owners.
While there are concerns that some of the purchases may be money laundering jobs, some of those named are currently facing allegations of corruption and global tax evasion.
For Czech Prime Minister Andrej Babiš, who faces elections later this week, the publication of the document should not have come the worst. South of France.
The treaty followed four other massive data breaches over the past seven years, including the FinCen files, Paradise Papers, Panama Papers, and LuxLeaks.
It also shows how around 95,000 offshore companies were legally established by UK real estate.
Azerbaijani President Ilham Aliyev, his family and relatives have earned over $ 500 million (£ 400 million) in wealth in the UK.
They also appear to have made a profit of $ 41.9million (£ 31million) after selling their London property to the Queen’s Crown Estate, which is managed by the Treasury.
Fergus Shiel of ICIJ said:
Russian President Vladimir Putin (pictured) has been linked to Monaco’s secret assets by Pandora Paper
Czech Prime Minister Andrej Babiš (pictured) did not say the offshore investment firm bought two villas for £ 12million in the south of France
He added, “They are using these offshore accounts and offshore trusts to buy hundreds of millions of dollars of assets in other countries and enrich their families at the expense of their citizens.
Duncan Hames, Policy Director at Transparency International UK, added:
“These leaks show that there are systems for corrupt elites who can buy access to prime locations and enjoy a luxurious lifestyle, and systems for honest, hard-working people. ..
“Once again Britain’s role as a facilitator of global corruption and money laundering has been exposed to the same loopholes that have been exploited to dump suspicious wealth into the country.
“It not only undermines Britain’s reputation as a country ruled by the rule of law, but also enriches the corrupt elite around the world at the expense of its people. They are the only ones to benefit from this system. ..
“The UK needs to redouble its efforts to raise illegal funds, which has led to a long overdue transparency reform, revealing who actually owns real estate here. Not only does it provide regulators and law enforcement agencies with the resources to crack down on fraudulent professionals and corrupt cash held in the UK. “
Blairs’ purchase of an office in London was not illegal, but the exposure came after former Labor leaders criticized the tax loopholes.
The property is currently used by Ms. Blair’s legal consultancy firm, Omnia Strategy and the Cherie Blair Women’s Foundation.
Ms Blair insisted the seller buy the house through an offshore company, the BBC reported, and said he was required to pay capital gains taxes if he continued to to sell it.
Purchased from a family with political ties in Bahrain. Both parties claim that initially they did not know who was involved in the transaction.
Secret offshore wealth of world leaders revealed in 12 million file leak called Pandora Papers
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