London —
Thousands of people, including world leaders, politicians and popular stars, were disclosed to be hiding huge fortunes through anonymous companies.
The documents, known as the Pandora Papers, were published on Sunday (October 3). It's part of nearly 12 million dossiers from several law firms that have been leaked, exposing the secret world of offshore finance. More than 600 journalists are currently analyzing the documents.
The most shocking disclosure in the "Pandora's Papers" was the secret wealth of Azerbaijani President Ilham Aliyev and his family. Leaked documents show that aliyev's family and their cronies have conducted $544 million in property transactions in London over the past 15 years.
File photo: Azerbaijani President Aliyev meets with Russian President Vladimir Putin in Moscow. (January 11, 2021)
Rachel Davies Teka, advocacy director at Transparency International UK, an anti-corruption movement, said: "Since the family came to power in 1993, they have controlled many of the country's key industries and natural resources and used them to amass wealth. ”
She told VOA: "Doing this at the expense of your own people. Some are suffering because their leaders are seizing resources that should be shared among their citizens. ”
The property of the King of Jordan empire
Leaked documents show that King Abdullah II of Jordan owns an empire of secret property worth more than $100 million in the United States and Britain. He took advantage of an anonymous offshore company registered in the British Virgin Islands of the Caribbean. The Jordanian royal palace said in a statement that the failure to disclose foreign property was for security and privacy reasons. The statement also said the property had been purchased with the king's private wealth.
King Abdullah II of Jordan speaks to tribal elders in Kastav, south of the capital Amman. (October 4, 2021)
King Abdullah met with tribal elders on Monday (October 4) to refute his allegations of concealing property. "Unfortunately, there is a movement against Jordan; there are still attempts to sow discord among us," he said. I have nothing to hide from anyone, but we are stronger than that, and this is not the first time Jordan has been targeted. ”
Pakistan's cabinet ministers and their families, including close allies of Prime Minister Imran Khan, were revealed to own multimillion-dollar offshore companies. Imran Khan said he would investigate.
Andrej Babiš, the second richest man in the Czech Republic and prime minister, used an anonymous offshore company to finance the purchase of a $18 million property in France. Babis is running for this week's election. In a televised debate with his rivals, he defended his actions.
Speaking to a television audience in Prague on Sunday, Babiš said: "This is money remitted from a Czech bank. The money was taxed. It was my money, and it was back in the Czech Republic. ”
Kenyan President Uhuru Kenyatta and six of his family members are associated with more than a dozen offshore companies, one of which has assets worth at least $30 million. There is currently no evidence of kenyatta families stealing any state assets.
Kenya's President's Office issued a statement saying Kenyatta welcomed the publication of the Pandora's Paper.
File photo: Kenyan President Kenyatta speaks at the closing session of the Global Education Summit in London. (July 29, 2021)
"These reports will make significant progress in strengthening the financial transparency and openness we demand in Kenya and around the globe." Illegal money transfers, crime and the proceeds of corruption are rampant in secret and darkness. The 'Pandora's Papers' and subsequent follow-up audits will uncover the secrets and darkness of those who cannot explain their assets. ”
Music stars Shakira and Elton John, as well as Indian cricket legend Sachin Tendulkar, have also been found to have set up offshore companies. This does not mean that their financial activities are illegal.
Most of the activities disclosed in the Pandora Document, including the use of offshore companies, are legal. Davis Teka argues that governments must do more to expose hidden wealth.
"This investigation and what these journalists have found is crucial because, unfortunately, governments, especially Western governments, are not doing enough to make transparency about where all this money goes and where it's hidden," she told VOA. ”
London's role
Of all these exposed fortunes, a common thread is London. Davis Teka said the British capital, as well as the British Overseas Dependencies associated with it, such as the British Virgin Islands, provide a web of hidden legal frameworks designed to hide the true ownership of these funds.
A property in London's Mayfair district was disclosed to be linked to Azerbaijani President Aliyev according to the "Pandora's Papers".
"You can buy property anonymously using a company registered and formed in an overseas territory that currently has secret practices. We also see luxury services for the global elite, and unfortunately, we see a remarkable number of professionals, accountants, lawyers, real estate agents willing to help corrupt and criminals launder money, hide wealth and manage money. ”
The UK government has introduced bills to prevent individuals from using offshore companies to conceal ownership. "But now, three years later, they are still hesitant to finalize the bill in Parliament and actually pass it, which makes people wonder how much sincerity they have to deal with this issue," Davis Teca said.
The Conservatives were caught in a storm after leaked documents showed that britain's ruling Conservatives were linked to allegations of corruption. On Monday, at the start of a week-long Conservative party meeting, Prime Minister Boris Johnson gave a speech dismissing allegations that the Conservatives were taking corrupt money.
He told reporters: "All I can say is that all these donations have been vetted in the normal way. ”
Britain's chancellor of the exchequer, Rishi Sunak, rejected the claim that London's reputation for tax avoidance was "shameful". He said the UK government had a proven track record of tackling corruption around the world.