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Document dump allegedly links world leaders to secret wealth By Reuters


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© Reuters. FILE PHOTO: Jordan’s King Abdullah II speaks after being welcomed by U.S. Home Speaker Nancy Pelosi (D-CA) to the U.S. Capitol in Washington, U.S., July 22, 2021. REUTERS/Elizabeth Frantz

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WASHINGTON (Reuters) -An enormous leak of economic paperwork was printed by a number of main information organizations on Sunday that allegedly tie world leaders to secret shops of wealth, together with King Abdullah of Jordan, Czech Prime Minister Andrej Babis and associates of Russian President Vladimir Putin.

The dump of greater than 11.9 million information, amounting to about 2.94 terabytes of knowledge, got here 5 years after the leak generally known as the “Panama Papers” uncovered how cash was hidden by the rich in ways in which legislation enforcement businesses couldn’t detect.

The Worldwide Consortium of Investigative Journalists (ICIJ), a Washington, D.C.-based community of reporters and media organizations, mentioned the information are linked reuters.com/world/key-findings-leaked-pandora-papers-offshore-wealth-2021-10-04 to about 35 present and former nationwide leaders, and greater than 330 politicians and public officers in 91 nations and territories. It didn’t say how the information have been obtained, and Reuters couldn’t independently confirm the allegations or paperwork detailed by the consortium.

Jordan’s King Abdullah, an in depth ally of the USA, was alleged to have used offshore accounts to spend greater than $100 million on luxurious properties in the UK and the USA.

“It’s no secret that His Majesty owns quite a lot of residences and residences in the USA and the UK. This isn’t uncommon nor improper,” the royal palace mentioned in an announcement.

“The price of these properties and all associated expenditures have been personally funded by His Majesty. None of those bills have been funded by the state price range or treasury.”

DLA Piper, a London legislation workplace representing Abdullah, instructed the consortium of media shops that he had “not at any level misused public monies or made any use in any respect of the proceeds of support or help supposed for public use.”

The Washington Put up https://www.washingtonpost.com/enterprise/interactive/2021/pandora-papers-offshore-finance/?itid=hp-top-table-high, which is a part of the consortium, additionally reported on the case of Svetlana Krivonogikh, a Russian girl who it mentioned grew to become the proprietor of a Monaco house via an offshore firm integrated on the Caribbean island of Tortola in April 2003 simply weeks after she gave delivery to a lady. On the time, she was in a secret, years-long relationship with Putin, the newspaper mentioned, citing Russian investigative outlet Proekt.

The Put up mentioned Krivonogikh, her daughter, who’s now 18, and the Kremlin didn’t reply to requests for remark.

Days forward of the Czech Republic’s Oct. 8-9 parliamentary election, the paperwork allegedly tied the nation’s prime minister, Babis, to a secret $22 million property in a hilltop village close to Cannes, France.

Talking throughout a tv debate on Sunday, Babis denied any wrongdoing.

“The cash left a Czech financial institution, was taxed, it was my cash, and returned to a Czech financial institution,” Babis mentioned.

The paperwork additionally confirmed how Indian businessman Anil Ambani and his representatives owned at the least 18 offshore corporations in Jersey, British Virgin Islands and Cyprus, in line with the Indian Specific, a part of the ICIJ consortium.

Arrange between 2007 and 2010, seven of those corporations have borrowed and invested at the least $1.3 billion, the report mentioned.

In 2020, following a dispute with three Chinese language state-controlled banks, Ambani – the chairman of Reliance Group – had instructed a London court docket his internet value was zero.

A unnamed lawyer, on behalf of Anil Ambani, instructed the Specific: “Our consumer is a tax resident of India and has made disclosures to Indian authorities as required to be made in compliance with legislation. All required issues have been taken into consideration when making disclosures earlier than the London court docket. The Reliance Group conducts enterprise globally and for official enterprise and regulatory necessities, corporations are integrated in several jurisdictions.”

Ambani didn’t instantly reply to a request from Reuters searching for remark.





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