Nearly 12 million documents purportedly shed light on the mystery behind the “wrongfully acquired” wealth of the rich and famous, including Indians, were made public on Sunday.Pandora Letter‘ the inspection.
A collection of nearly 12 million documents that shed light on the mystery of the alleged wrongfully acquired wealth of the rich and famous, including Indians, was made public on Sunday as part of the infamous “Pandora Papers” investigation. The website of the International Consortium of Investigative Journalists (ICIJ), which was collating data from 2016, dubbed that investigation “an offshore data tsunami” involving politicians and billionaire businessmen.
A total of 2.94 terabytes of files came from companies hired by wealthy clients allegedly to build offshore structures and trusts in tax havens such as Panama, Dubai, Monaco, Switzerland and the Cayman Islands. The names the newspapers claim to have disclosed include 330-odd politicians from more than 90 countries – from the people of the Russian presidency Vladimir PutinThe ‘inner circle’ for the close aides and financial aides of the PM of Pakistan Imran Khan.
“My government will investigate all our citizens mentioned in the Pandora papers and if any wrongdoing is found we will take appropriate action. I call on the international community to equate this grave injustice to the climate change crisis,” Imran tweeted late Sunday. “just like East India Company Looting the wealth of India, the ruling elite of developing countries are doing the same. Unfortunately, the rich states are neither interested in stopping this massive loot nor in bringing back this looted money,” he said.
According to a BBC report that cited the latest set of leaked papers, the former British PM Tony Blair And his barrister wife, Cheri, didn’t have to pay £312,000 in stamp duty when buying a London townhouse for £6.45 million. The report said the couple had purchased the property in 2017 as an office for Cherry’s business.
The ICIJ also claims to have data on at least 500 Indians and their alleged links with offshore companies, trusts and foundations. Most of the Indian entities under the scanner had allegedly set up offshore bases with the help of a Panama firm. The Pandora Papers investigation also reveals how banks and law firms work closely with offshore service providers to design complex corporate structures. “The files show that providers do not always know their customers, despite their legal obligation not to do business with people who engage in suspicious behavior,” the consortium’s website says.
Ahead of Sunday’s revelations, the Panama government wrote to the ICIJ, saying it feared the new exposure would further tarnish its reputation. The Panamanian government said in a letter sent through a law firm, “The damages cannot be compensated.” The letter warned against “any publication” that “would have disastrous consequences for Panama and its people” to reinforce the “false perception” of the country as a potential tax haven.
A collection of nearly 12 million documents that shed light on the mystery of the alleged wrongfully acquired wealth of the rich and famous, including Indians, was made public on Sunday as part of the infamous “Pandora Papers” investigation. The website of the International Consortium of Investigative Journalists (ICIJ), which was collating data from 2016, dubbed that investigation “an offshore data tsunami” involving politicians and billionaire businessmen.
A total of 2.94 terabytes of files came from companies hired by wealthy clients allegedly to build offshore structures and trusts in tax havens such as Panama, Dubai, Monaco, Switzerland and the Cayman Islands. The names the newspapers claim to have disclosed include 330-odd politicians from more than 90 countries – from the people of the Russian presidency Vladimir PutinThe ‘inner circle’ for the close aides and financial aides of the PM of Pakistan Imran Khan.
“My government will investigate all our citizens mentioned in the Pandora papers and if any wrongdoing is found we will take appropriate action. I call on the international community to equate this grave injustice to the climate change crisis,” Imran tweeted late Sunday. “just like East India Company Looting the wealth of India, the ruling elite of developing countries are doing the same. Unfortunately, the rich states are neither interested in stopping this massive loot nor in bringing back this looted money,” he said.
According to a BBC report that cited the latest set of leaked papers, the former British PM Tony Blair And his barrister wife, Cheri, didn’t have to pay £312,000 in stamp duty when buying a London townhouse for £6.45 million. The report said the couple had purchased the property in 2017 as an office for Cherry’s business.
The ICIJ also claims to have data on at least 500 Indians and their alleged links with offshore companies, trusts and foundations. Most of the Indian entities under the scanner had allegedly set up offshore bases with the help of a Panama firm. The Pandora Papers investigation also reveals how banks and law firms work closely with offshore service providers to design complex corporate structures. “The files show that providers do not always know their customers, despite their legal obligation not to do business with people who engage in suspicious behavior,” the consortium’s website says.
Ahead of Sunday’s revelations, the Panama government wrote to the ICIJ, saying it feared the new exposure would further tarnish its reputation. The Panamanian government said in a letter sent through a law firm, “The damages cannot be compensated.” The letter warned against “any publication” that “would have disastrous consequences for Panama and its people” to reinforce the “false perception” of the country as a potential tax haven.
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