Over a dozen politicians, govts and celebs exposed for hiding millions in offshore tax havens by ICIJ media consortium investigation. PandoraPapers is based on the leak of some 11.9M docs from 14 financial services companies around the world
The documents notably expose how King Abdullah II created a network of offshore companies and tax havens to amass a $100 million property empire from Malibu, California to Washington and London.
The BBC cited lawyers for King Abdullah saying all the properties were bought with personal wealth, and that it was common practice for high profile individuals to purchase properties via offshore companies for privacy and security reasons. The documents also show Czech Prime minister Andrej Babis – facing an election later this week – failed to declare an offshore investment company used to purchase a chateau worth $22 million in the south of France.
In total, the ICIJ found links between almost 1,000 companies in offshore havens and 336 high-level politicians and public officials, including country leaders, cabinet ministers, ambassadors and others.In most countries, the ICIJ stresses, it is not illegal to have assets offshore or to use shell companies to do business across national borders.
But such revelations are no less of an embarrassment for leaders who may have campaigned publicly against corruption, or advocated austerity measures at home.• A global list of fugitives, con artists and murderers.