Stella Dimoko Pandora Papers Leak Exposes Worlds Richest


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Monday, October 04, 2021

Pandora Papers Leak Exposes Worlds Richest

An unprecedented leak of financial records known as the Pandora Papers has revealed the offshore financial assets of dozens of current and former world leaders and hundreds of politicians from Asia and the Middle East to Latin America.

The International Consortium of Investigative Journalists (ICIJ) obtained 11.9 million confidential documents from 14 separate legal and financial services firms, which the group said offered “a sweeping look at an industry that helps the world’s ultrawealthy, powerful government officials and other elites conceal trillions of dollars from tax authorities, prosecutors and others.”

Moving money through offshore accounts, in mostly low-tax jurisdictions, is legal in most countries, and many of the people named in the data release aren’t accused of criminal wrongdoing. But the journalist group said the 2.94 terabytes of financial and legal data – which makes this leak larger than the
2016 Panama Papers release – shows the “offshore money machine operates in every corner of the planet, including the world’s largest democracies,” and involves some of the world’s most well-known banks and legal firms.

Here are some of the biggest revelations in the release:

Jordan king’s real estate empire

Jordan’s monarch, King Abdullah II, used an English accountant in Switzerland and lawyers in the British Virgin Islands to secretly purchase 14 luxury homes worth US$106 million, including a US$23 million property in California overlooking a beach, the ICIJ reported, noting the country relies on foreign aid to support its people and house millions of refugees.

UK lawyers for the king told the ICIJ that he was not required to pay taxes under Jordanian law, has never misused public funds and has “security and privacy reasons to hold property through offshore companies”.

French Riviera estate

Czech Prime Minister Andrej Babis, who is currently running for re-election, “moved US$22 million through offshore companies to buy a lavish estate on the French Riviera in 2009 while keeping his ownership secret,” ICIJ said. The five-bedroom Chateau Bigaud, which is owned by a subsidiary of one of Babis’s Czech companies, sits on 9.4 acres (3.8 hectares) in a hilltop village where Pablo Picasso spent the last years of his life, the group said.

The Queen and Azerbaijan

The data release revealed that Azerbaijan’s ruling Aliyev family traded around US$540 million worth of UK property in recent years, reported The Guardian, one of the ICIJ’s media partners. Queen Elizabeth’s crown estate bought one property worth almost US$91 million from the family, and is currently in the middle of an internal review into the purchase, The Guardian said.

“Given the potential concerns raised, we are looking into the matter,” a spokesperson for the crown estate told the paper, which added the Aliyevs declined to comment.

South Dakota, Nevada havens

One of the most “troubling revelations” for the US was the role of South Dakota, Nevada and other states that have adopted financial secrecy laws that “rival those of offshore jurisdictions” and demonstrate America’s “expanding complicity in the offshore economy,” said The Washington Post, one of the ICIJ’s media partners.

A former vice-president of the Dominican Republic finalised several trusts in South Dakota to store his personal wealth and shares of one of the country’s largest sugar producers, the paper said.

Pakistan’s political elite

Several members of Pakistani Prime Minister Imran Khan’s inner circle, including current and former cabinet ministers, “secretly owned an array of companies and trusts holding millions of dollars of hidden wealth,” the group reported. That could create a political headache for the former cricket star, who campaigned for the South Asian country’s highest office as the head of a reformist party that promised a strong anti-corruption agenda.

Before the release of the Pandora papers, a Khan spokesperson told a news conference Khan had no offshore company, but ministers and advisers “will have to be held accountable” for their individual acts.

Tony Blair property purchase

The documents show former UK prime minister Tony Blair and his wife saved around US$422,000 by using an offshore company to purchase an almost US$9 million office in London’s Marylebone area that was partially owned by the family of a Bahraini minister, The Guardian reported. The paper said there was nothing illegal about the deal, but it “highlights a loophole that has enabled wealthy property owners not to pay a tax that is commonplace for ordinary Britons”.

*There are so many names mentioned in this leak.....
Kenyan President mentioned
Singer Shakira mentioned
President Putin linked in documents
Ukrainian President linked
Super Model Claudia Schiffer named


  1. Even Peter obi was fingered.

    1. Thank you. The same guy who acts like a saint. Premium News exposed him.

    2. Yeah... I read it up. His daughter's name, Gabriella was used in creating a company for looting of funds

    3. Of course that is the one the jealous ones will finger.

  2. The Peter Obi's own that concerns us gan gan you no put, you are putting Pakistan. E wo no Pakistan? Mtsheewwwwwwwwww.

  3. Hmmm na wa..A lot of aiding and abating coming from the European countries...I surprise say no Nigerian was mentioned..

    1. Nigerians yakpa for the list.

    2. Obviously you didn’t look up the list to say no Nigerian on it. Peter Obi dey.

  4. Hmmmnnn... if they open Nigeria own, this country will stop existing automatically. They should expose ALL abeg

  5. Where Peter Obi name?

  6. Yet the poor and middle-class peoples of the world who duly pay their taxes and keep their countries going are told over and over that they just have to work hard enough, find their passion, start saving and investing early, all the bullshyt when it is obvious that dishonesty is what is rewarded.

    Let nobody put you down or make you feel bad about what you have acquired legally and by the sweat of your own brow.

  7. No be news no. This has been on for ages past. Even after exposing them, they still find a more advanced way to secured their future.

  8. you people should stop lying. I've just checked the list, and Peter Obi or Gabriella's name are NOT on the list. Neither are any Nigerians that I can tell. I no even see any Nigerian flag.

    1. 15:34 I think you are reading your medical history or some other document.

      Information that is all over the net you are here arguing.

      Doesn't basic common sense even tell you that there is no way Nigerian won't be exposed there with all the Hushpuppies breeding in the system?
      How will a document that indepth that even exposes the Queen of England not even have Nigerians? With all the massive corruption that we can even see korokoro.
      Go and get a new set of glasses.

      Some of you reason as if you have just 1 teaspoon of common sense to use for your entire lifetime.

    2. You are an idiot. I deal with the facts that I am able to verify, not rumors. The list I found here on the internet was very detailed, and so far, does not have his name or his daughter's name. You are free to state your own information and give results of your own search. But, you are still a big fool and an idiot and my comment was not about how corrupt Nigerians are or the possibility or probability of any Nigerian being on the list, but that I searched online, and did not see what is being reported by others, so I doubt the veracity at this point, now, if they release more troves of documents and then they are on there, thats okay.

  9. Atlest they earned plenty money and saved to buy properties. Them lucky... but they don't have time to sleep their up to 20 times a year.


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