Who has been named in the Pandora Papers?

Who has been named in the Pandora Papers?...
aljazeera.com 06/10/2021 Politics

Keywords:#2015, #2020, #Abdullah_II, #Al_Jazeera, #Aljazeera.com, #Azerbaijan, #Azerbaijanis, #BBC, #Bahrain, #Belize, #Bloomberg, #Brazil, #British, #CNBC, #California, #Chile, #Chilean, #China, #Chinese, #Congress, #Cyprus, #Czech, #Czech_Republic, #Dakota, #Dubai, #EU, #Economy, #Economy_Minister, #Europe, #European, #European_Parliament, #First_Lady, #France, #French, #German, #Guardian, #Hassan_Diab, #Hong_Kong, #ICIJ, #Ilham_Aliyev, #Imran_Khan, #India, #International_Consortium_of_Investigative_Journalists, #Investigative, #Japanese, #Javanshir, #Jordan, #Journalists, #Kenya, #Khan, #Lebanese, #Lebanon, #London, #MP, #Malibu, #Marwan, #Mexican, #Mexico, #Montenegro, #Moscow, #Olympics, #Pakistan, #Pakistani, #Panama, #Panama_Papers, #Pandora_Papers, #Parliament, #People, #President, #Prime_Minister, #Radio, #Riviera, #Russia, #Russian, #Securities, #September, #South_Dakota, #Soviet, #Swedish, #Switzerland, #The_Guardian, #Tony_Blair, #UAE, #UK, #US, #USD, #Ukraine, #United_Kingdom, #United_States, #Vladimir_Putin, #Volodymyr_Zelensky, #Washington, #Washington_Post

The Pandora Papers are 11.9 million leaked documents with 2.9 terabytes of data that the International Consortium of Investigative Journalists (ICIJ) published beginning on 3 October 2021. The leak exposed the secret offshore accounts of 35 world leaders, including current and former presidents, prime ministers, and heads of state as well as more than 100 billionaires, celebrities, and business leaders. The news organisations of the ICIJ described the document leak as their most expansive exposé of financial secrecy yet, containing documents, images, emails and spreadsheets from 14 financial service companies, in nations including Panama, Switzerland and the UAE, surpassing their previous release of the Panama Papers in 2016, which had 11.5 million confidential documents (2.6 terabytes). At the time of the release of the papers, the ICIJ said it is not identifying its source for the documents.

Estimates by the ICIJ of money held offshore (outside the country where the money was made) range from US$5.6 trillion to US$32 trillion.
Some of those named after secret files were leaked to a consortium of journalists that revealed offshore deals.
A massive global investigation has exposed the ties between world leaders to the hidden world of offshore wealth collectively worth trillions of dollars.
Dubbed the Pandora Papers, the landmark probe, published on Sunday, was conducted by the International Consortium of Investigative Journalists (ICIJ) – an ensemble of 600 journalists from 150 media outlets in 117 countries.
Digging into more than 11.9 million documents leaked from 14 offshore financial services firms, the ICIJ found that 35 heads of state and government and more than 300 politicians have set up offshore structures and trusts in tax havens from the British Virgin Islands, Seychelles, to Hong Kong and Belize.
In addition to the politicians and heads of states, singer Shakira and former Indian cricket captain Sachin Tendulkar are among celebrities and sport stars named in the investigation.
The financial secrets of some of the world’s rich and powerful have been uncovered in the Pandora Papers. Here’s why it matters to you ⬇️
Read more: https://t.co/uyJgIj83bu pic.twitter.com/o1jA7ERS02
Al Jazeera English (@AJEnglish) October 4, 2021
Here is a look at some of those names:


* * * Jordan’s King Abdullah II amassed about $100m worth of property in the United States and United Kingdom 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”.
The royal palace said in a statement on Monday that the king’s ownership of private properties in the UK and the US was not a secret, adding that privacy and security reasons were behind not disclosing it.
The leaked files also showed that in neighbouring Lebanon, top political and financial figures have embraced offshore havens.
These include Prime Minister Najib Mikati, his predecessor Hassan Diab, Riad Salameh, the governor of Lebanon’s central bank – currently under investigation in France for alleged money laundering – and former minister of state and the chairman of Al-Mawarid Bank Marwan Kheireddine.

The consortium said Kheireddine and Diab did not respond to requests for comment while Salameh said he declares his assets.
Mikati’s son, Maher, told the ICIJ that owning real estate through offshore entities offers more “flexibility” when it comes to renting, inheritance planning, and “potential tax advantages”.
He told Al Jazeera that: “Using offshore entities could be considered as forms of tax evasion for US and EU nationals but this is not the case for Lebanese nationals.”

The Pandora Papers show that prominent members of Pakistani Prime Minister Imran Khan’s government, donors to his party and family members of the country’s powerful military generals moved millions of dollars of wealth through offshore companies.
Two members of Khan’s cabinet – Water Resources Minister Moonis Elahi and Finance Minister Shaukat Tarin – were prominent in the leaks, alongside more than 700 other Pakistani citizens.
The consortium said the documents contained no suggestion that Khan himself – who rose to power in 2018 on the back of promises to arrest Pakistan’s “corrupt” political elites – owns offshore companies.

Czech Republic
The report said Czech PM Andrej Babis moved $22m through offshore companies to buy an estate on the French Riviera in 2009 while keeping his ownership secret.
Babis, speaking on Sunday in a TV debate ahead of October 8-9 elections, denied wrongdoing and said “the money left a Czech bank, was taxed, it was my money, and returned to a Czech bank”.

* * * The investigation found Azerbaijani President Ilham Aliyev and his family have secretly been involved in British property deals worth more than 400 million pounds ($542m), according to the BBC.
The files show how the family bought 17 properties, including a 33-million pound ($44.8m) office block in London for the president’s 11-year-old son.
South Dakota
The Guardian newspaper said the files provided evidence that the US state of South Dakota rivalled opaque jurisdictions in Europe and the Caribbean for financial secrecy.
The documents reveal almost $360bn in customer assets are sitting in trusts in South Dakota, some of it tied to foreign individuals and companies accused of human rights abuses and other wrongdoing, it said.
The Aliyev family have enriched themselves through their ties to state-run businesses. They own significant parts of at several major Azerbaijani banks, construction firms and telecommunications firms, well as partially own the country's oil and gas industries. Much of the wealth is hidden in offshore companies. The 2021 Pandora Papers leaks showed that the Aliyev family built vast offshore network to hide their money. The family and their close associates have secretly been involved in property deals in the UK worth more than £400m.
Andrew Higgins, writing in The Washington Post, stated in 2010 that Azerbaijanis with the same names as Ilham Aliyev's three children owned real estate in Dubai worth about $75 million. Higgins stated that some members of the family are indeed wealthy, such as the president's older daughter, Leyla, married to Emin Agalarov, a Russian billionaire, and relatives of the first lady who have businesses in Azerbaijan.
Journalist Khadija Ismayilova, who worked for the United States government-funded Radio Free Europe/Radio Liberty, carried out journalistic investigations, and claimed that Aliyev's family controlled some companies such as "Azerfon", "Azenco", and assets worth $3 billion in the largest Azerbaijani banks.
In 2012, the Organized Crime and Corruption Reporting Project called Ilham Aliyev the person of the year in organized crime and corruption. Also in 2012, CNBC filmed the film Filthy Rich about corruption which also mentioned the Aliyev family.
According to a 2013 investigation the International Consortium of Investigative Journalists (ICIJ), Aliyev family owned at least four offshore companies directly connected with Hassan Gozal. ICIJ stated that family members never declared the Aliyevs' offshore companies, that Ilham and Mehriban Aliyevs had no legal right to open offshore companies, and that when these companies were opened, measures were taken to conceal the real owners. When registering the companies, Aliyev's daughters indicated property worth about $6 million. Investigation of Swedish television showed that offshore companies controlled by Aliyevs received from "TeliaSonera", the Swedish telecommunications company, a factual bribe in the form of shares of "Azercell" cellular operator in the amount of 600-700 million dollars (due to the estimate of 2005), which was purchased for only 6.5 million dollars. In a resolution on 10 September 2015, the European Parliament called on the EU authorities to conduct a thorough investigation of allegations of corruption against Ilham Aliyev and his family members.
His critic Khadija Ismayilova was detained in December 2014 and sentenced in September 2015 to seven-and-a-half years in prison on trumped-up charges. She was conditionally released in May 2016, but three and a half years later, still remains subject to a travel ban and has been unable to leave the country despite numerous applications to do so. Lawyers will be seeking permission for Ismayilova to travel to the UK to give evidence in the trial of Paul Radu, a Romanian journalist who is co-founder and executive director of investigative reporting group OCCRP (the Organized Crime and Corruption Reporting Project). Radu is being sued for defamation in London by Azerbaijani MP, Javanshir Feyziyev, over two articles in OCCRP's award-winning Azerbaijan Laundromat series about money-laundering out of Azerbaijan. Ismayilova, OCCRP's lead reporter in Azerbaijan, is a key witness in the case.
Aliyev was also included on a list of figures (others being the Minister of Emergency Situations Kamaladdin Heydarov, head of the Presidential Administration Ramiz Mehdiyev and First Lady Mehriban Aliyeva) accused of accepting bribes of 1,000,000$ USD from MP candidates to guarantee their "election win" and inclusion to the parliament. This high-level corruption scandal is widely called the Gulargate.
Lobbying and moneylaundering
Azerbaijan's oil wealth has made it possible for the regime to engage in extensive lobbying efforts. In 2017, the Aliyev family was implicated in the Azerbaijani laundromat scandal, which was a complex money-laundering scheme to pay off prominent European politicians to deflect criticism of Aliyev and promote a positive image of his regime.
Aliyev rules an authoritarian regime in Azerbaijan, as elections are not free and fair, power is concentrated in the hands of Aliyev and his extended family, corruption is rampant, and human rights violations are severe (which included torture, arbitrary arrests, as well as harassment of journalists and non-governmental organizations).
Kenya’s President Uhuru Kenyatta and six members of his family have been linked to 13 offshore companies, according to the documents.
The Kenyattas’ offshore investments included a company with stocks and bonds worth $30m, the BBC reported.
United Kingdom
Tony Blair, the UK prime minister from 1997 to 2007, became the owner of an $8.8m Victorian building in 2017 by buying a British Virgin Islands company that held the property, and the building now hosts the law firm of his wife, Cherie Blair, according to the investigation.
The two bought the company from the family of Bahrain’s industry and tourism minister, Zayed bin Rashid al-Zayani.
Buying the company shares instead of the London building saved the Blairs more than $400,000 in property taxes, the investigation found.
The Blairs and the al-Zayanis both said they did not initially know the other party was involved in the deal, the probe found. A lawyer for the al-Zayanis said they complied with UK laws.
The Washington Post said Russian woman Svetlana Krivonogikh became the owner of a Monaco apartment via an offshore company incorporated on the Caribbean island of Tortola in April 2003, just weeks after she gave birth to a girl.
At the time, she was in a secret, years-long relationship with Russian President Vladimir Putin, the Post said, citing Russian investigative outlet Proekt.
The report also revealed Putin’s image-maker and chief executive of Russia’s leading TV station, Konstantin Ernst, got a discount to buy and develop Soviet-era cinemas and surrounding property in Moscow after he directed the 2014 Winter Olympics in Sochi.
Ernst told the organisation the deal was not secret and denied suggestions he was given special treatment.
Ukraine’s President Volodymyr Zelensky, who has been vocal on anti-corruption issues, used a network of offshore companies to buy three upmarket properties in London.
His office said it had been a way of protecting himself against the “aggressive actions” of the regime of his predecessor, the pro-Russia president Viktor Yanukovich.
The leaked documents revealed Chilean President Sebastian Pinera, one of the country’s wealthiest men, used offshore companies in the British Virgin Islands for dealings involving the Dominga mining project, which his family co-owned in part with a friend.
The final payment on the mine’s sale in 2011 hinged on the government declining to declare its location in north-central Chile a protected natural reserve, according to the report. The government – at that time headed by Pinera – did not do so, despite appeals from environmentalists, nor did subsequent governments.
When investigators looked into the case a few years later, Pinera said he had not been involved in managing the companies and had not even realised the connection with Dominga.
A statement issued on Sunday from the president’s office noted that prosecutors and courts decided in 2017 that no crime had been committed and Pinera had not been involved.
Montenegro’s President Milo Djukanovic and his son in 2012 allegedly established a trust and hid their wealth in a complicated network of companies, according to the investigation.
Djukanovic’s office said that he did establish a business trust with his son in 2012, while not in office. After he became the prime minister later the same year, Djukanovic transferred all the rights to his son, the office said. While Djukanovic was one of the owners there had been no business transactions, they said.
The documents showed Brazilian Economy Minister Paulo Guedes had multimillion dollar investments in an offshore company named Dreadnoughts International in the British Virgin Islands.
In a statement sent through his press office, Paulo Guedes said he provided all the necessary information to the Public Ethics Commission when he took office in the government in 2019.
Three prominent Mexican business tycoons with a combined fortune of about $30bn are among those named in the leaked documents, media involved in the investigation reported.
They are mining magnate German Larrea, Modelo beer heiress Maria Asuncion Aramburuzabala and Olegario Vazquez Aldir, who heads Grupo Empresarial Angeles, according to the Spanish daily El Pais.
According to the allegations, 25 of the Mexicans named together moved about $1.27bn to offshore jurisdictions for the purchase of luxury goods.
China’s only politician to be named in the Pandora Papers is a female entrepreneur who the report says set up an offshore firm to trade US stocks, according to Bloomberg.
Feng Qiya, a delegate to China’s annual parliamentary pageant, the National People’s Congress, in 2016 set up an offshore company in the British Virgin Islands called Linkhigh Trading Ltd. to make the transactions, according to the International Consortium of Investigative Journalists.
The company had $2m in assets and was registered with the US Securities and Exchange Commission, but is currently inactive, ICIJ said.
Hong Kong
Two former leaders of Hong Kong have been named in the Pandora Papers leak.
Leung Chun-ying, or CY Leung, reportedly did not declare his income from the sale of shares of a Japanese company while still serving as the Chinese territory’s chief executive. Tung Chee-hwa, a billionaire, allegedly set up offshore companies after he retired from office.
CY Leung was Hong Kong’s leader between 2012 and 2017, while Tung was the city’s first chief executive after Hong Kong’s handover to China in 1997. He remained in charge until 2005.
Both men are now serving as senior members of an advisory committee for the Chinese government and there are reports that CY Leung could seek a political comeback as the term of the current Hong Kong chief executive, Carrie Lam, comes to an end.
The Indian Express, part of the ICIJ consortium, said the Pandora Papers showed that businessman Anil Ambani and his representatives owned at least 18 offshore companies in Jersey, the British Virgin Islands and Cyprus.
Set up between 2007 and 2010, seven of these companies had borrowed and invested at least $1.3bn, the report said.
In 2020, following a dispute with three Chinese state-controlled banks, Ambani, chairman of Reliance Group, had told a London court his net worth was zero.
Source: Al Jazeera and news agencies
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