Pandora papers news – live: World leaders deny wrongdoing after huge leak of financial documents
Trove of secret files lays bare offshore schemes used by world’s richest to hide their fortunes
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Several world leaders have denied any wrongdoing after a huge leak of documents revealed the secret financial dealings of the global elite.
The Pandora Papers investigation, which involved a consortium of some 600 journalists from a variety of global media outlets, is based on the leak of some 11.9 million documents from 14 financial services companies around the globe.
Among those named in the files are associates of Russian president Vladimir Putin, King Abdullah of Jordan, and Czech prime minister Andrej Babis. All three have issued statements claiming they have done nothing wrong.
“For now it is just not clear what this information is and what it is about,” Kremlin spokesman Dmitry Peskov told reporters, adding that “we didn’t see any hidden wealth of Putin’s inner circle in there”.
King Abdullah said claims he used offshore accounts to disguise a £70m hidden property empire were “defamatory and designed to target Jordan’s reputation”.
“Any allegations that link these private properties to public funds or assistance are baseless and deliberate attempts to distort facts,” a statement from the Royal Hashemite Court said on Monday.
Meanwhile on Twitter, Mr Babis said he had done nothing “illegal or wrong” and suggested the leaks were an attempt to “influence the Czech election”, which takes place next week.
Pandora Papers: Imran Khan promises to ‘investigate’ Pakistan cabinet members mentioned in the leak
All 700 of Pakistan’s nationals named in the “Pandora Papers” will be investigated, said the country’s prime minister Imran Khan, after the names of top ministers from his cabinet appeared in the leaked documents.
The names of the nationals – including Mr Khan’s finance minister, his former adviser’s son and prominent donors of his Pakistan Tehreek-e-Insaf (PTI) party – have appeared in one of the largest leaks of financial data made public on Sunday, revealing the extent of hidden offshore wealth across the globe.
Mr Khan himself isn’t named. The documents, however, include two senior cabinet ministers: Moonis Elahi and Shaukat Tarin, the country’s water resources and finance ministers respectively. Both have denied any wrongdoing, writes Stuti Mishra.
Pakistan PM promises to ‘investigate’ cabinet members mentioned in Pandora Papers
Many Pakistani nationals, including many high-ranking elites, politicians and former military officers, figure in the ‘Pandora Papers’ leak
Kenya’s president responds to being named in reports
Kenya’s president has said he thinks the Pandora papers will “go a long way” in enhancing financial transparency around the world.
Uhuru Kenyatta was named in the leaked documents, according to reports, which said he and his family had been linked to some 13 offshore companies.
In a statement, he said: “Whilst I will respond comprehensively on my return from my state visit to the Americas, let me say this, that these reports will go a long way in enhancing the financial transparency and openness that we require in Kenya and around the globe.
“The movement of illicit funds, proceeds of crime and corruption thrive in an environment of secrecy and darkness.
"The Pandora papers and subsequent follow-up audits will lift that veil of secrecy and darkness for those who can not explain their assets or wealth.”
Pandora Papers: Cricketer Sachin Tendulkar named in leak exposing offshore dealings
Indian cricket legend Sachin Tendulkar and his family members have been mentioned in a list of more than 300 world leaders, politicians and influential figures who allegedly used global tax havens as part of their complex tax arrangements, writes Sravasti Dasgupta.
The Pandora Papers investigation, which involved a consortium of some 600 journalists from a variety of global media outlets, is based on the leak of 11.9 million documents from 14 financial services companies around the globe.
The International Consortium of Investigative Journalists (ICIJ) obtained the documents, which were then passed on to BBC, The Guardian and 150 other media outlets across the world. The leaked documents lay bare how the global elite use offshore tax havens to store and move their money.
Cricketer Sachin Tendulkar named in Pandora Papers leak exposing offshore dealings
Tendulkar, his wife and father-in-law were ‘beneficial owners’ of an offshore entity in the British Virgin Islands, which was liquidated in 2016, investigation alleges
Lib Dems and SNP seize on Pandora papers claims
The Liberal Democrats and Scottish National Party have seized on the Pandora papers reports to attack the Conservative Party, and call for major reforms and investigations.
It follows reports that a major Tory donor, Mohamed Amersi, had been linked to an allegedly corrupt telecoms deal in Uzbekistan.
Mr Amersi said on Monday: “Exhaustive investigations have been carried out into Telia [the Swedish telecoms firm] by multiple governmental authorities and no allegations of misconduct or criminality have ever been made against me.
“My work as an adviser has always been conducted appropriately and legally.”
You can read our story about that allegation here.
Alison Thewliss, the SNP’s spokesperson on treasury matters, demanded new, “rigorous regulation” and accused the Conservatives of “sinking in a sea of sleaze”.
She added: “Rishi Sunak must ensure that rigorous regulation is brought forward to create a tax-system that works for everyone, including cracking down on the abuse of Scottish limited partnerships and properly resourcing Companies House to carry out appropriate enforcement – something that the SNP has been calling for for years.
“It is time the Tories turned hollow rhetoric into action and started holding to account those who continue to exploit offshore tax havens.”
Her counterpart in the Lib Dems, Christine Jardine, called for an investigation by the Electoral Commission into Mr Amersi’s donations to the Tories. On Monday both Mr Sunak and Boris Johnson said donations to the party were all vetted according to law.
Ms Jardine said: “The Electoral Commission should launch an immediate investigation into these allegations. The Tories must comply with this investigation and explain what they are doing to stop the flow of dirty money into the UK.”
India says it will investigate Pandora Papers cases
India’s government has promised to investigate cases linked to the Pandora Papers leak of financial documents.
The names of some 380 Indian businessmen, celebrities and politicians have been revealed in the Pandora Papers, including cricketing icon Sachin Tendulkar and businessman Anil Ambani.
Tendulkar, along with several family members, was found to have owned an offshore company in the British Virgin Islands (BVI) that was liquidated in 2016 following the release of the Panama Papers exposé.
Meanwhile Mr Ambani, the chairman of Reliance Communications, was also named in the leaked documents. Mr Ambani and his representatives were found to have owned at least 18 offshore companies in Jersey, British Virgin Islands and Cyprus, according to the Indian Express.
“The relevant investigative agencies would undertake investigation in these cases and appropriate action would be taken in such cases as per law,” the Ministry of Finance said in a statement on Monday evening.
“With a view to ensure effective investigation in these cases, the Government will also proactively engage with foreign jurisdictions for obtaining information in respect of relevant taxpayers/entities.”
Snowden hails leaker of Pandora Papers
Edward Snowden, the whistleblower behind one of the biggest intelligence leaks in history, has paid tribute to whoever leaked the Pandora Papers.
“Hats off to the source”, he wrote on Twitter on Monday morning.
Mr Snowden is a former intelligence consultant who leaked highly classified information from the National Security Agency in 2013. He had formerly been an employee at the agency and subcontractor at the Central Intelligence Agency (CIA).
He went on to provide several journalists with thousands of top-secret documents about U.S. intelligence agencies’ surveillance of American citizens.
Mr Snowden is currently residing in Russia, where he was originally granted temporary asylum in June 2013 following the leak of the files.
Leaks ‘are reminder that there is magic money tree’, says MP
A Labour MP has said that the leak of the Pandora Papers serves as a reminder that “there is a magic money tree”.
Bell Ribeiro-Addy, the MP for Streatham, added: “It’s called tax avoidance and the City of London is a forest.”
It comes after Ms Ribeiro-Addy’s party colleague and shadow foreign secretary Lisa Nandy earlier claimed the leaks “reach into the heart of UK democracy”.
On Monday morning, Mrs Nandy announced a new Illicit Finance Taskforce with “the explicit aim of making Britain the most inhospitable place in the world for dirty money.”
Varadkar promises urgent review of Irish tax law
Leo Varadkar, Ireland’s Tánaiste and minister for enterprise, has promised an urgent review of the country’s corporate tax law following the leak of the Pandora Papers.
Mr Varadkar said that the matter had been discussed with Taoiseach Michéal Martin and Transport Minister Eamon Ryan on Monday.
Among the revelations contained in the leaks is that an empty office in Dublin is the registered address of more than 800 limited partnerships. The legal structure of the arrangements is designed to allow investors to invest in business with limited exposure, according to The Irish Times.
“Certainly they are a matter of concern,” Mr Varadkar told reporters.
“I have discussed the matter with the various party leaders earlier on. We are only starting to hear about these things and they are new revelations.
“It would appear on the face of it that some of the arrangements that may have involved Ireland are very dubious.
“We certainly don’t want to be part of any supply chain that people use to conceal their assets. There is nothing in that for us. We don’t want any part of it.”
He added: “If we need to make some changes to close those loopholes we will do that.”
Lebanon’s former PM denies wrongdoing
Lebanon’s former prime minister Hassan Diab said on Monday had given up shares in a company he was linked to in the Pandora Papers, and denied wrongdoing.
A statement by his office said he had taken part in founding the company in 2015 and owned 17 shares, but that the firm had no activity since then and he had since resigned his management role and sold his stake.
It came after Lebanese news organisation Daraj reported that a number of top figures in Lebanon, including Prime Minister Najib Mikati, had embraced offshore havens. Mr Mikati said all of his financial dealings were in line with international law.
Daraj was one of several global media outlets to publish the leaked documents on Sunday.
“Is founding a company against the law?” Mr Diab said, adding that he reserved the right to sue anyone who tries to defame him.
Additional reporting by the Reuters news agency.
Pandora Papers leak ‘met with a shrug’ in Azerbaijan
A leak of documents over the weekend showed Azerbaijan’s strongman, Ilham Aliyev, had secretly bought $540 million worth of property worldwide, including a central London home registered in the name of his then 11-year-old son, writes Borzou Daragahi.
But on the streets of Baku and other cities of the Caucasus nation of 10 million infamous as a kleptocracy, there were shrugs. Azerbaijanis have long been used to the idea of their leader as corrupt. They now broadly support him for leading a military victory over Armenia in a war last year.
“A majority doesn’t really care about it,” said Arzu Geybulla, journalist and analyst specialising in the Caucasus and Turkey. “I don’t think they’re going to rise up.
“Not because they don’t care about corruption. Everyone is so used to it. Everyone knows about it.
“The fact that people don’t care because they know there won’t be any punishment.”
Secrets revealed in the Pandora Papers met with a weary shrug
The revelations are eye-catching, but the test will be if they lead to major reform, writes Borzou Daragahi
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