Stack of documents shows hidden wealth of world leaders



Current and former rulers around the world have amassed vast wealth and secret real estate across the globe. Hundreds of research journalists reported Sunday after reviewing millions of unpublished documents over the months.

The document, named Pandora Paper, holds offshore ownership of 35 current and former executives, including Russian President Vladimir Putin, former British Prime Minister Tony Blair, Czech Prime Minister Andrei Babish and Jordan’s King Abdullah. Revealed.

An investigation of approximately 12 million documents from 14 sources is being conducted by an international consortium of Washington-based research journalists, with 650 journalists from around the world working on the project. The Washington Post, one of the media outlets that helped lead the investigation, contained personal emails, secret spreadsheets, secret contracts and other documents revealing financial schemes. Said who was behind.

Documents show that national leaders on all five continents are hiding their assets, and in many other countries, surveys have revealed more than twice as many offshore account holders as the Panama Papers. In the world.

The new material comes from 29,000 offshore accounts from 14 separate financial services companies operating in countries such as Switzerland, Singapore, Cyprus, Belize and the British Virgin Islands. According to the publication, more than 130 account holders are listed as millionaires in Forbes magazine, and there are more than 330 public servants in more than 90 countries and territories.

“Offshore” refers to a time when remote island nations were a major place where people spent money to protect them from government regulators, tax authorities, creditors, investigators and more.

“The offshore financial system is an issue that should concern every law-abiding person in the world,” former FBI officer Sherin Evadi told Post as she had worked on dozens of financial crime cases. . ..

Records show that Jordanian rulers are spending $ 106 million on luxury homes along the Pacific Ocean in Malibu, California, Washington and elsewhere, while rulers in Kenya and the Czech Republic are spending millions of dollars. dollars in real estate and cash. Was secretly possessed.

According to records, Czech leader Bavis, who faces an election later this week, used an offshore investment firm to buy two villas in the south of France for more than $ 16 million.

Records show that Monaco’s luxury waterfront apartments are home to Russian women who are believed to have had Putin and children. The post said Abdullah’s representative denied the inappropriateness or use of public funds, but none of the Kenyan, Czech and Russian leaders commented on the report, nor did Russian women.

In recent years, the President of the United States has imposed economic sanctions on Russian oligarchs for what the US Treasury calls malicious activity. Pandora Papers has shown that the subject goes to great lengths to avoid the effects of sanctions by changing ownership. Nonetheless, the document showed that the sanctions caused economic losses, including to Kremlin officials.

According to the document, Blair and his wife, Sherry, saved $ 421,000 in stamp duty when they bought an office in London from an offshore company that owns the building, according to the UK BBC.

The BBC said Azerbaijani President Ilham Aliyev, his family and close associates secretly bought more than $ 540 million in UK assets.

For years, international tax havens have been the favorites of wealthy people trying to hide their wealth. However, the publication said Pandora Paper showed foreign, political and business officials recently transferred some stakes to even more secretive US trust companies, including the Midwest of South Dakota.


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