Pandora Papers Says Some State Leaders, Politicians, Singers And Models Have Secret Wealth

JAKARTA - A major leak of financial documents was published by several major news agencies on Sunday, allegedly linked to a number of world leaders holding secret wealth.

The leak of 11.9 million records, totaling about 2.94 terabytes of data, comes five years after the leak known as the 'Panama Papers', exposed how money was hidden by the rich in a way that law enforcement agencies could not detect.

4, The International Consortium of Investigative Journalists (ICIJ), a Washington DC-based network of journalists and media organizations said the files linked to about 35 former and national leaders and more than 330 politicians and public officials in 91 countries and territories. .

It did not say how the files were obtained, and Reuters could not independently verify the allegations or the documents detailed by the consortium.

Jordan's King Abdullah, a close ally of the United States, is alleged to have used offshore accounts to spend more than $100 million to buy luxury homes in Britain and the United States.

DLA Piper, a London law firm representing Abdullah, told the media consortium that he "never misappropriated public money or used anything from the proceeds of favors or favors intended for the public good."

The Washington Post, which is part of the consortium, also reported on the case of Svetlana Krivonogikh, a Russian woman who is said to be the owner of a Monaco apartment through an offshore company founded on the Caribbean island of Tortola in April 2003.

Just a few weeks later, she gave birth to a daughter. At the time, he was in a secret, years-long relationship with President Putin, the newspaper said, citing Russian investigative outlet Proekt.

The Post said Krivonogikh, his daughter, now 18, and the Kremlin did not respond to requests for comment.

Days ahead of the October 8-9 parliamentary elections in the Czech Republic, the documents allegedly link the country's prime minister, Babis, with a secret $22 million estate in a hilltop village near Cannes, France.

Speaking in a televised debate on Sunday, Babis denied wrongdoing.

"The money left the Czech bank, was taxed, it was my money, and it was returned to the Czech bank," Babis said.

While citing CNA, the so-called Pandora Papers investigation, involving around 600 journalists from various media including The Washington Post, BBC and The Guardian, was based on the leak of about 11.9 million documents from 14 financial services companies worldwide. The fourteen companies are shell companies in tax haven countries.

In total, ICIJ found links between nearly 1,000 companies in offshore havens and 336 high-ranking politicians and public officials, including more than a dozen heads of state and government, heads of state, cabinet ministers, ambassadors and others. More than two thirds of companies are founded in the British Virgin Islands.

"I think it largely shows that the people who can end secrecy offshore, can end what's happening, benefit from it themselves," ICIJ director Gerard Ryle said in a video accompanying the investigation. "We're looking at trillions of dollars."

For Maira Martini, a policy expert at Transparency International, the latest investigation once again offers "clear evidence of how the offshore industry encourages corruption and financial crime, while hindering justice."

"This business model cannot continue," he said.

In addition to the names mentioned above, there is also the name of former British prime minister Tony Blair, who is critical of the tax loophole, being found legally evading paying stamp duty on his million-pound London property when he and his wife Cherie bought the offshore company that owns it. .

Then there are members of Pakistani Prime Minister Imran Khan's inner circle, including cabinet ministers and their families, who are said to secretly own companies and trusts holding millions of dollars. In a series of tweets, Khan vowed to "take appropriate action" if any wrongdoing was committed by Pakistanis.

The so-called Kenyan President Uhuru Kenyatta, who has campaigned against corruption and for financial transparency, is accused along with several family members of secretly owning a network of offshore companies.

In addition to politicians, public figures exposed include Colombian singer Shakira, German supermodel Claudia Schiffer and Indian cricket legend Sachin Tendulkar. Representatives of the three told ICIJ that the investment was legal and was rejected for tax evasion.

To note, The Pandora Papers are the latest in a series of mass ICIJ financial document leaks, from the LuxLeaks in 2014, to the 2016 Panama Papers, which triggered the resignation of Iceland's prime minister and paved the way for the Pakistani leader to be ousted. They were followed by the Paradise Papers in 2017 and the FinCen files in 2020.

The documents behind the latest investigation were taken from financial services companies in various countries, including the British Virgin Islands, Panama, Belize, Cyprus, United Arab Emirates, Singapore and Switzerland.