Pandora Papers : Offshore havens and hidden riches of world leaders and billionaires exposed

Singer Shakira,cricket legend Sachin Tendulkar, Model Claudia Schiffer linked to offshore accounts

Millions of documents have been leaked to journalists which has uncovered financial secrets of 35 current and former powerful world leaders, whereby more than 330 are politicians and public officials from 91 countries across the globe.

The secret documents popularly known as (Pandora Papers) expose offshore dealings of the President of Kenya (H.E Uhuru Kenyatta),president of Ecuador, president of Ukraine and the Prime Minister of the Czech Republic and also the former Prime Minister of Britain, Tony Blair. The files also detail financial activities of the President of Russia, Vladimir Putin and also other 130 billionaires from Turkey, Russia and the United States of America.

The leaked documents reveal that the entrusted leaders and heads of states who are supposed to end this thing of offshore accounts are the ones leading in the front. The governments involved are doing a little to stop the illicit money that enriches criminals and impoverished nations across the continent. From this revelation , it can be noted that the key players in this pandora are protected by the state,and the state is them.

Here are among the hidden treasures in offshore accounts as revealed in the documents:

A $22 million chateau in the French Riviera – replete with a cinema and two swimming pools – purchased through offshore companies by the Czech Republic’s populist prime minister, a billionaire who has railed against the corruption of economic and political elites.

More than $13 million tucked in a secrecy-shaded trust in the Great Plains of the United States by a scion of one of Guatemala’s most powerful families, a dynasty that controls a soap and lipsticks conglomerate that’s been accused of harming workers and the earth.

Three beachfront mansions in Malibu purchased through three offshore companies for $68 million by the King of Jordan in the years after Jordanians filled the streets during Arab Spring to protest joblessness and corruption.

The leaked documents come from 14 offshore service firms around the globe that are mandated to shell companies and other offshore nooks for those clients who are seeking to keep their illegal activities in secret.

In an era of widening authoritarianism and inequality, the Pandora Papers investigation provides an unequaled perspective on how money and power operate in the 21st century – and how the rule of law has been bent and broken around the world by a system of financial secrecy enabled by the U.S. and other wealthy nations.

From the analysis of the secret documents, it was found out that 956 companies in offshore havens tied to 336 High level politicians and government officials including country leaders,cabinet ministers, ambassadors and among others. It was also noted that more than two thirds of those companies were set up in the British Virgin Islands.