Correction: The Yoovidhya family

Wednesday 13 December 2017 10:50

On 17 August 2017, The Independent published an article under the headline ‘Red Bull family’s tax haven secrets revealed after fugitive son allegedly kills police officer in Ferrari hit-and-run”. Referring to the offshore investments of the Yoovidhya family, the article suggested that the family’s financial arrangements were outlined in the ‘Panama Papers’ and that auditors had raised concerns that documents verifying the ownership of their companies had been missing in 2010 and 2013.

Representatives of the Yoovidhya family have contacted The Independent to say that the Panama Papers do not give a complete or accurate view of the family’s financial arrangements and that neither Mossack Fonseca not its auditors raised any concerns with their companies about missing documents. Furthermore, they say that Mossack Fonseca never did anything for the Yoovidhya family beyond providing a registered office address for two of their companies.

The Yoovidhya family believe that the article implied that they had engaged in money laundering activities. The Independent wishes to make clear that it did not intend to imply anything of the sort and it is happy to correct any such impression to the contrary.

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