Hundreds of world leaders, powerful politicians, billionaires, celebrities, religious leaders and drug dealers have hidden their investments. He had been hiding his investments in mansions, exclusive beachfront properties, yachts and other assets for over 25 years. This has been revealed from a review of 12 million files found from 14 companies around the world.
use of offshore accounts
The International Consortium of Investigative Journalists released the report on Sunday. These include 600 journalists from 150 media outlets in 117 countries. These are called the “Pandora Papers” because of the hidden deals of the rich and corrupt, including how they used offshore accounts to hide trillions of dollars in assets.
These include more than 330 current and former politicians. These include King Abdullah II of Jordan, former UK Prime Minister Tony Blair, Czech Republic Prime Minister Andrej Babis, Kenyan President Uhuru Kenyatta, Ecuador’s President Guillermo Lasso and aides of the Presidents of both Pakistan and Russia. Their secret accounts have been found. The billionaires named in the report include Turkish construction giant Erman Ilicak and Robert T. Brockman, former CEO of software maker Reynolds & Reynolds.
Accounts designed to evade taxes and hide assets
According to the report, most of the accounts were created to evade taxes and hide assets for other suspicious reasons.
Sven Giegold, a Green Party MP in the European Parliament, said the new data leak should be a wake-up call for the people. He further said that tax evasion around the world encourages inequalities globally. He further said that we now need to step up and speed up the steps against it.
Oxfam International, a consortium created for Britain’s charity, praised the Pandora Papers. Oxfam said in a statement that this shows where our lost hospital is. Whenever a politician or business tycoon claims he has no money, he knows where to look.