Over 130 billionaires and celebrities from Russia, the United States, India, Pakistan, the United Kingdom, and Mexico used shell companies and incognito bank accounts to buy secret assets and conduct secret financial transactions, show the Pandora papers obtained by the International Consortium of Investigative Journalists (ICIJ).
According to reports, cricket legend Sachin Tendulkar was among those who sought the closure of his offshore company following the Panama Papers release. Tendulkar’s lawyer claims that the cricketer’s investment is legal and has been notified to tax authorities.
Colombian singer Shakira is another name linked to offshore holdings. Shakira’s lawyer said that her offshore accounts had been revealed and they did not give any tax advantages.
The Pandora Papers mention 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.
Over 300 Indians have been exposed as a result of the leaked documents, including people accused of economic crimes, former members of Parliament and those under investigation by law enforcement. Billionaire Anil Ambani controls 18 asset holding offshore corporations despite declaring bankruptcy in a UK court.
Jordan’s King Abdullah II secretly purchased $100 million in property in the United States and the United Kingdom, including magnificent beach view mansions in Malibu.
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As per reports, some members of Pakistan Prime Minister Imran Khan’s inner circle, including cabinet ministers and their families, have secretly held businesses and trusts worth millions of dollars. They include Finance Minister Shaukat Tarin and his family, as well as Waqar Masood Khan, son of Prime Minister Imran’s previous finance and tax adviser.
According to the documents, former UK Prime Minister Tony Blair and his wife saved £312,000 in stamp duty when they bought a London office. While the transaction was not illegal and did not directly connect the Blairs, it did highlight a loophole that allowed wealthy property owners to avoid paying taxes.
Reportedly, Russian President Vladimir Putin is related to concealed assets in Monaco. Putin is not named in the documents, but several of his close acquaintances are, including a boyhood pal and a former girlfriend.
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