Pandora Papers Updates : 300 Indians, Celebrities, Global leaders, Industrialists Involved

It was revealed in an ICIJ investigation that a long list of world leaders, industrialists, celebrities, and athletes have secretly amassed millions in offshore assets. Approximately 12 million documents from 14 different financial services companies around the world were examined as part of the ‘Pandora Papers’ investigation.

Around 600 journalists from 150 media outlets across 117 countries investigated the Pandora Papers, which included over 300 Indian names as well as former British Prime Minister Tony Blair and Czech Prime Minister Andrej Babis, as well as the names of Kenyan President Uhuru Kenyatta and Ecuadorian President Guillermo Lasao and their associates. The investigation also included Pakistani Prime Minister Imran Khan and Russian President Vladimir Putin.

Source: BBC

The documents also show that Russian President Vladimir Putin has secret assets in Monaco and that Czech Prime Minister Andrej Babis, who is up for re-election next week, failed to declare an offshore investment company that was used to buy two villas in the south of France for £12 million.

Following the FinCen Files, Paradise Papers, Panama Papers, and LuxLeaks leaks, this is the latest in a long line of data breaches.

This information reveals how the Jordanian King secretly amassed a real estate empire in the United Kingdom and the United States, which is worth more than £70 million.

When Abdullah II bin Al-Hussein took power in 1999, a network of offshore companies based in the British Virgin Islands and in other tax havens helped him buy 15 homes.

Malibu, California, and London and Ascot, England, each have a total of £50 million invested in adjacent ocean view properties.

Aside from the larger tax havens like the British Virgin Islands and Panama, smaller tax havens like Samoa, Belize, or the Cook Islands are among the most popular.

According to the Pandora Papers, Jordan’s King Abdullah II secretly amassed $100 million in US and UK real estate. According to the report, Indians who owe banks thousands of crores have shifted a significant portion of their assets to a confusing web of offshore firms.

Also named in the papers were ex-Parliamentarians who served in Indian government. Over 700 Pakistanis were named in the Pandora Papers, including ministers and members of Prime Minister Imran Khan’s inner circle like Finance Minister Shaukat Tarin, Minister for Water Resources Moonis Elahi, Senator Faisal Vawda, and the Bakhtiar family.