A new report highlights how global leaders, powerful politicians, billionaires and others have used offshore accounts to save a total of trillions of dollars worth of assets over the past quarter.
The report of the International Consortium of Investigative Journalists includes promises of tax reform and resignations and demands for investigation, as well as clarification and denial of targeted individuals.
The investigation, published late Sunday, involved 600 journalists from 150 media outlets in 117 countries. It’s called the “Pandora Papers” because the results shed light on previously hidden issues of the elite and the corrupt.
Hundreds of politicians, celebrities, religious leaders and drug dealers are hiding their investments in their mansions, special beach properties, yachts and other assets, according to a survey of nearly 12 million files from 14 firms around the world.
More than 330 current and former politicians have been identified as beneficiaries of secret accounts, including King Abdullah II of Jordan, former British Prime Minister Tony Blair, Czech Prime Minister Andrzej Babis, and Kenyan President Uhuru. Kenyatta, Ecuador’s President Guillermo Lasso, and two Pakistani colleagues. Prime Minister Imran Khan and Russian President Vladimir Putin
The billionaires named in the report include Turkish construction mogul Arman Alek and former CEO of software maker Reynolds & Reynolds, Robert T. Brockman.
According to the report, many accounts were created to evade taxes and hide assets. Some of them vehemently denied the allegations on Monday.
The new data leak should be a wake-up call, said Sven Gigold, a Green Party lawmaker in the European Parliament. Global tax evasion fuels global inequality. We now need to step up and step up response.
Oxfam International, a British consortium of charities, praised the Pandora Papers for exposing unprecedented examples of greed that deprive countries of tax revenue that could be used to finance programs and projects. Are
“Here are our missing hospitals,” Oxfam said in a statement. “This is where the salary packets of all the extra teachers and firefighters and government employees sit.”
The European Commission, the executive arm of the 27-nation European Union, responded to the revelations by saying it was drafting new legislation to increase tax transparency and strengthen the fight against tax evasion.
The Pandora Papers follow a similar plan, released in 2016, called the “Panama Papers”, compiled by the same journalistic group.
The latest banshell is even broader, relying on data from 14 different service providers doing business in 38 different areas. The record is from the 1970s, but most are from 1996 to 2020.
The investigation dug into accounts registered in foreign asylum seekers, including the British Virgin Islands, Seychelles, Hong Kong and Belize. But some secret accounts were also scattered among US-based trusts, including 81 in South Dakota and 37 in Florida.
The investigation found that advisers helped King Abdullah of Jordan set up at least three dozen shell companies from 1995 to 2017, helping the king buy 14 homes worth more than 6 106 million in the United States and 23 in the UK. Millions of dollars was California’s sea. View property purchased in 2017 by a British Virgin Islands company. The advisers were identified as an English accountant in Switzerland and a lawyer in the British Virgin Islands.
Abdullah denied any wrongdoing in a comment at the royal palace on Monday, saying no public funds had been used, citing security requirements to keep the transaction quiet.
UK lawyers for Abdullah said he was not required to pay taxes under his country’s law and had not misused public funds. The lawyers also said that most of the companies and properties are not affiliated with the king or no longer exist, although they declined to provide details.
Blair, the Prime Minister of the United Kingdom from 1997 to 2007, became the owner of the 8. 8.8 million Victorian building in 2017, buying the property from the British Virgin Islands Company, and now owns the building to his wife, Cherry Blair’s law firm. Hosts Investigation. The two bought the company from the family of Zaid bin Rashid Al Zayani, Bahrain’s Minister of Industry and Tourism. The investigation found that buying shares in the company instead of the London building saved Blair more than 400 400,000 in property taxes.
The investigation revealed that both Blair and Al-Zayani said they did not initially know that the other party was involved in the deal. Cherry Blair said her husband was not involved in the purchase, which she said “would bring the company and the building back into the UK’s tax and regulatory system.” She also said that she did not want to own the British Virgin Islands Company and that “the seller only wanted to sell the company for his own purposes” which is now closed.
A lawyer for the victims said they complied with British law.
The report also analyzes transactions related to the British monarchy.
The British Crown State, a business owned by Queen Elizabeth II, said it would consider a لیے 67 million (91 91 million) purchase of a London building from a company for the family of Azerbaijani President Ilham Aliyev. The Guardian said the agreement raised questions about whether the transaction should be investigated for money laundering concerns. Aliyev, who has ruled Azerbaijan since 2003, is accused of corruption and human rights abuses.
Crown State said it had checked before the purchase but is now looking into the matter again amid questions raised.
Khan, Pakistan’s prime minister, has not been charged with any wrongdoing. But according to the journalists’ findings, members of his inner circle, including Finance Minister Shaukat Fayyaz Ahmed Tareen, are accused of hiding millions of dollars in secret companies or trusts.
In a tweet, Khan vowed to recover “illegal gains” and said his government would review all citizens listed in the documents and take action if necessary.
A consortium of journalists has revealed that Konstantin Ernst, Putin’s photographer and chief executive of Russia’s leading TV station, was instructed to buy and build Soviet-era cinemas in and around Moscow after directing the 2014 Winter Olympics in Sochi. Excused to do. Ernst told the organization that the agreement was not a secret and rejected suggestions that he had been given special treatment.
In 2009, Czech Prime Minister Babis invested ش 22 million in shell companies to buy Chetto property in a mountain village in Mogans, France, near Cannes. According to documents obtained by Investigace.cz, the Czech partner of the journalism group, the shell companies and Cheetahs did not appear in the declarations of Babi’s wanted assets.
A real estate group indirectly bought the Monaco company owned by Babis, which was owned by Chatto in 2018.
Babis has denied any wrongdoing. He said the report was intended to damage the republic and the Czech Republic ahead of Saturday’s parliamentary elections.
The Czech police’s organized crime unit said it would launch an investigation.
Montenegrin President Melo Djokanovic has faced calls to resign after joining the ranks of world leaders who used secret accounts to hide their assets. His office denied a report by the local Montenegrin Network for the Non-Governmental Sector Confirmation, alleging that he and his son had set up a trust to hide their wealth behind a complex network of companies. What
Ledtke reported from San Ramon, California, and Mattis reported from Nashville, Tennessee. Associated Press Reuters Barry Hatton in Lisbon, Portugal, Carol Genesic in the Czech Republic, Frank Jordens in Berlin, Joseph Federman in Jerusalem, John Rice in Mexico City, Kathy Gannon in Islamabad, Pakistan and Felicia Fonseca in Phoenix contributed to this report. What