Pandora Papers highlights: CBDT says cases will be investigated

Millions of leaked documents dubbed the Pandora Papers and a worldwide journalistic partnership on Sunday claims to have uncovered financial secrets of current and former world leaders, politicians and public officials in 91 countries and territories, including India. People linked by the secret documents to offshore assets include India’s cricket superstar Sachin Tendulkar, pop music diva Shakira, supermodel Claudia Schiffer and an Italian mobster known as ‘Lell the Fat One’.

Lebanon's former PM Diab says he gave up shares in company mentioned in 'Pandora Papers'

Lebanon's former prime minister Hassan Diab said on Monday he had given up shares in a company he was linked to in a leak of financial documents, and denied wrongdoing.

A statement by his office said he had taken part in founding the company in 2015 and owned 17 shares, but that the firm had no activity since then and he had since resigned his management role and sold his stake.

A Lebanese news organisation, Daraj, was one of a number of international media outlets that reported the "Pandora Papers", a set of leaked documents purported to reveal offshore transactions involving global political and business figures.

Named in Pandora Papers, I.Coast PM denies any 'illicit activities'

Ivory Coast Prime Minister Patrick Achi on Monday denied any wrongdoing after he was named in the "Pandora Papers" media investigation exposing world leaders' use of tax havens.

The investigation by the International Consortium of Investigative Journalists (ICIJ) named Achi as one of three dozen current and former world leaders featured in roughly 11.9 million documents leaked from financial services companies across the world.

The consortium writes that in the late 1990s Achi, then an adviser to Ivory Coast's energy minister, became the owner of Bahamas-based company Allstar Consultancy Services Ltd, owning shares through a trust which, it is alleged, obscured his ownership.

Kenya president hails Pandora Papers but stays quiet on offshore claims

Kenyan President Uhuru Kenyatta said Monday that an investigation exposing global leaders' use of tax havens will "enhance financial transparency" but declined to comment on allegations that his family owned 11 offshore companies worth millions of dollars.

Based on leaks of some 11.9 million financial documents analysed by the International Consortium of Investigative Journalists (ICIJ), the "Pandora Papers" published on Sunday revealed a hidden world of shielded wealth belonging to hundreds of politicians and billionaires.

The investigation showed how Kenyatta -- who has campaigned against corruption -- is accused along with six family members of secretly owning a network of 11 offshore companies, one of which was valued as holding assets of $30 million.

Multi-agency group to probe 'Pandora Papers' revelations

The Centre on Monday said that relevant investigative agencies will investigate the "offshore secrets of wealthy elites" unravelled in 'Pandora Papers' and the probe will be monitored by a multi-agency group headed by the Chairman of Central Board of Direct Taxes (CBDT).

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World leaders scramble to limit 'Pandora Papers' damage

Governments moved Monday to limit the fallout from a release of millions of documents detailing how leaders have used offshore tax havens to stash assets worth hundreds of millions of dollars.

Some 35 current and former leaders are featured in roughly 11.9 million documents leaked from financial services companies across the world that include reports of luxury homes on the French Riviera, Monte Carlo and California.

The documents, known as the "Pandora Papers," were obtained by the International Consortium of Investigative Journalists (ICIJ) and released in stories by media partners including The Washington Post, the BBC and The Guardian.

Allegations range from corruption to money laundering and tax avoidance.

Abolish tax havens: Oxfam India on Pandora Papers revelations

Oxfam India called for immediately abolishing tax havens after a leak of millions of documents, dubbed the 'Pandora Papers', revealed offshore financial assets of wealthy individuals across 91 countries and territories, including India.

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Kremlin dismisses Pandora Papers as 'unsubstantiated claims'

Russia on Monday dismissed revelations leaked in the Pandora Papers as "unsubstantiated claims," after a new investigation by the ICIJ media consortium shone light on wealth amassed by Kremlin-linked individuals.

"This is just a set of largely unsubstantiated claims," Kremlin spokesman Dmitry Peskov said in response to the allegations, including that a $4 million Monaco property had been purchased for a woman previously reported to have been in a relationship with President Vladimir Putin.

Pandora Papers: The latest mega leak on tax-dodging

An investigation based on one of the biggest ever leaks of financial documents on Sunday exposed a hidden world of shielded wealth belonging to hundreds of politicians and billionaires.

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Jordan King's property abroad not a secret, claims Palace (Reuters)

Jordan's King Abdullah owns properties in the United States and Britain and this was not a secret, the royal palace said, adding privacy and security reasons were behind not disclosing it.

In a massive leak of financial documents published on Sunday, King Abdullah, a close ally of the United States, was alleged to have used offshore accounts to spend more than $100 million on luxury homes in the United Kingdom and the United States. (Reuters)

UK to study Pandora tax revelations: Finance minister Sunak

"I've seen these things overnight as well and it's obviously tough for me to comment on them specifically given they've only just emerged, and of course HMRC will look through those to see if there's anything we can learn," Sunak told Sky News.

Panama law firm heavily implicated in 'Pandora Papers' revelations

A prestigious Panamanian law firm was named in the so-called "PandoraPapers" as implicated in the creation of offshore shell companies meant to hide money in tax havens for more than 160 politicians and public figures.

They included "some accused of looting their countries," according to the International Consortium of Investigative Journalists (ICIJ), which obtained the leaked documents as part of thePandoraPapers, published Sunday, which sent shockwaves of embarrassment through powerful circles.

Here are biggest revelations from Pandora Papers leak

An unprecedentedleakof financial records known as the Pandora Papers has revealed the offshore financial assets of dozens of current and former world leaders and hundreds of politicians from Asia and the Middle East to Latin America.

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Kiran Mazumdar-Shaw denies husband's involvement in 'offshore trust'

Explained | What is the Pandora Papers exposé?

Millions of leaked documents dubbed the Pandora Papers and a worldwide journalistic partnership on Sunday claims to have uncovered financial secrets of current and former world leaders, politicians and public officials in 91 countries and territories, including India.

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Key findings of leaked Pandora Papers on offshore wealth

Jordan's King Abdullah

Jordan's King Abdullah amassed about $100 million worth of property in the United States and the UK through secret companies. They were purchased between 2003 and 2017 via firms registered in tax havens and include properties in Malibu, southern California, and Washington and London.

DLA Piper, a London law office representing Abdullah, told the ICIJ that he had "not at any point misused public monies or made any use whatsoever of the proceeds of aid or assistance intended for public use".

Pakistan

The ICIJ said that the leaked documents showed members of Prime Minister Imran Khan's inner circle, including cabinet ministers, have secretly owned companies and trusts holding millions of dollars of hidden wealth. The documents also showed the personal wealth of Pakistani military leaders, it added.

The consortium said the documents contained no suggestion that Khan himself owns offshore companies.

It said Finance Minister Shaukat Fayaz Ahmed Tarin and members of his family own four offshore firms. According to Tariq Fawad Malik, a financial consultant who handled the paperwork on the companies, they were set up as part of the Tarin family's intended investment in a bank with a Saudi business, the ICIJ said. The deal did not proceed.

The ICIJ quoted Tarin as saying in a statement: "The off-shore companies mentioned were incorporated as part of the fundraising process for my bank."

Jordan’s King among leaders accused of amassing secret property empire

King Abdullah II of Jordan came under heightened scrutiny Sunday after an alliance of international news organizations reported that he was among several world leaders to use secret offshore accounts to amass overseas properties and hide their wealth.

The claims against Abdullah were part of a major investigation, known as the Pandora Papers, that was conducted by the ICIJ in partnership with more than a dozen international news outlets, including The Washington Post and The Guardian. Based on leaks of nearly 12 million files from 14 offshore companies, the investigation found that Abdullah was among 35 current and former leaders who have used offshore shell companies to disguise their wealth. (NYT)

Pandora Papers: From Sachin Tendulkar to Shakira, financial dealings of the global elite exposed

Millions of leaked documents dubbed the Pandora Papers and a worldwide journalistic partnership on Sunday claims to have uncovered financial secrets of current and former world leaders, politicians and public officials in 91 countries and territories, including India.

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Cricketer Sachin Tendulkar is among the wealthy elite and heads of states from across the world whose offshore financial dealings were exposed by the Pandora Papers.

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Pandora Papers: Offshore dealings of Anil Ambani worth $1.3 bn leaked

A year after declaring bankruptcy to a UK court, the Pandora Papers report showed that Reliance ADAG chief Anil Ambani, along with his representatives, has at least 18 offshore companies located in Jersey, Cyprus and other companies.

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Panama fears could be hit by new ICIJ 'Pandora Papers' leak

Panama fears the publication Sunday of a new expose about financial secrecy in global tax havens could again taint its reputation, which was seriously damaged by the "Panama Papers" scandal, according to a government letter released by local media.

"The damage could be insurmountable," the Panamanian government said in the letter, sent through a law firm to the International Consortium of Investigative Journalists (ICIJ). (AFP)

Czech PM Babis denies any wrongdoing after report says he used offshore structures

Czech Prime Minister Andrej Babis denied any wrongdoing on Sunday in connection with an international investigative report that listed him among current and former world politicians and businessmen that it says have used offshore financial structures.

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Records date back to the 1970s, but most files from 1996 to 2020

The records date back to the 1970s, but most of the files span from 1996 to 2020.

In contrast, the Panama Papers culled through 2.6 terabytes of data leaked by one now-defunct law firm called Mossack Fonseca that was located in the country that inspired that project's nickname.

The latest investigation dug into accounts registered in familiar offshore havens, including the British Virgin Islands, Seychelles, Hong Kong, and Belize.

Members of Pakistan Prime Minister Imran Khan's inner circle, including cabinet ministers and their families, were found to secretly own companies and trusts holding millions of dollars.

Khan himself welcomed the findings on Twitter, saying they exposed "the ill-gotten wealth of elites, accumulated through tax evasion & corruption & laundered out to financial 'havens'" and promised to investigate any wrongdoing. (AFP)

Pakistan PM promises to investigate citizens mentioned in 'Pandora Papers'

Prime Minister Imran Khan promised Sunday to "investigate" Pakistani citizens connected to a massive probe into the hidden wealth of politicians worldwide, after members of his inner circle were implicated in the report.

The so-called "Pandora Papers" investigation -- involving some 600 journalists from media including The Washington Post, the BBC and The Guardian -- is based on the leak of some 11.9 million documents from 14 financial services companies around the world.

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King of Jordan, former Britain PM Tony Blair named in the list

According to the ICIJ, its secret documents expose offshore dealings of the likes of the King of Jordan, the presidents of Ukraine, Kenya and Ecuador, the Prime Minister of the Czech Republic and former British Prime Minister Tony Blair. The files also reveal financial activities of Russian President Vladimir Putin’s “unofficial minister of propaganda” and more than 130 billionaires from Russia, the US, Turkey and other nations.

The ICIJ says the leaked records come from 14 offshore services firms from around the world that set up shell companies and other offshore nooks for clients often seeking to keep their financial activities in the shadows. (PTI)

An investigation by International Consortium of Investigative Journalists

The International Consortium of Investigative Journalists (ICIJ), which involved the BBC and ‘The Guardian’ newspaper in the UK and ‘The Indian Express’ in India among 150 media outlets in its investigation, claims it obtained the trove of more than 11.9 million confidential files to find secret financial dealings of many super rich.

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'Pandora Papers' expose offshore assets of heads of state, govt

More than a dozen heads of state and government, including the King of Jordan and the Czech prime minister, have hidden millions in offshore tax havens, according to an investigation published Sunday by the ICIJ media consortium.

The so-called "Pandora Papers" investigation -- involving some 600 journalists from media including The Washington Post, the BBC and The Guardian -- is based on the leak of some 11.9 million documents from 14 financial services companies around the world. (AFP)