Arthur Greene
A leak of almost 12 million documents has exposed the shady and secretive business dealings of the world’s richest and most powerful people.
The files, known as the Pandora Papers, were leaked to the International Consortium of Investigative Journalists (ICIJ).
The files show how the world’s richest people hide their wealth in offshore accounts, avoid tax and sometimes launder their money.
Without revealing their source, the ICIJ shared the findings with news outlets across the globe, who worked together to piece together a jigsaw of the massive secret wealth of the world’s most powerful people.
Here are some of the most striking revelations:
The family of the president of Kenya, Uhuru Kenyatta, has made more than R450 million through offshore dealings.
Congo’s President Denis Sassou Nguesso was revealed in the leak to own a company which controls diamond mines. The company escapes tax by being based in the tax haven of the British Virgin Islands.
Gabon’s President Ali Bongo Ondimba, Ivory Coast Prime Minister Patrick Achi and Mozambique’s former prime minister Aires Ali all either owned or had shares in offshore companies.
In total, almost 50 African politicians and public officials from 18 countries on the continent have been linked to offshore assets by the Pandora Papers.
Meanwhile, the ruler of Jordan, King Abdullah, has amassed a secret property empire worth more than R1,5 billion.
The Aliyev family, which rules the country of Azerbaijan, has traded more than R8 billion worth of properties in London. The Queen’s estate paid President Ilham Alyev almost R1,4 billion for some of their London properties.
The Russian president, Vladimir Putin, does not appear in the leaks by name, but the names of his close associates come up again and again. His best friend and former lover among those who have made huge amounts of money through offshore deals.
The media outlets exposing the revelations of the Pandora Papers, such as the ICJ and the Guardian, have said they will expose even more over the coming days.
Image source: ICIJ
