xThe 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. In most countries, the ICIJ stresses, it is not illegal to have assets offshore or to use shell companies to do business across national borders. The documents notably expose how Jordan’s King Abdullah II created a network of offshore companies and tax havens to amass a $100 million property empire from Malibu, California to Washington and London. — Members of Pakistan Prime Minister Imran Khan’s inner circle, including cabinet ministers and their families, are said to secretly own companies and trusts holding millions of dollars. — Kenyan President Uhuru Kenyatta — who has campaigned against corruption and for financial transparency — is alleged along with several family members of secretly owning a network of offshore companies.

Source: The Guardian October 04, 2021 07:52 UTC