A large trove of newly launched confidential data exposes profitable tax havens for a few of the world’s most wealthy and highly effective figures, from Jordan’s king to spicy pop singer Sharika — and even an underground artwork seller whose collections have been displayed at The Met.
Dubbed the “Pandora Papers,” the data include practically 12 million paperwork detailing systematic tax-dodging by 14 companies that use off-shore financial institution accounts that disguise the fortunes and property of a whole bunch of rich shoppers.
Among these nabbed with off-shore accounts are 35 present and former world leaders, together with Jordan’s King Abdullah II, who had hidden $106 million from the acquisition of mansions in Malibu and elsewhere, based on a report in the Washington Post.
Also shielding their property from taxes had been Czech Prime Minister Andrej Babis, Ukrainian President Volodymyr Zelensky, and Kenyan President Uhuru Kenyatta.
Douglas Latchford, an indicted antiquities seller linked to looted Cambodian artifacts — whose artwork collections have been displayed at New York’s Metropolitan Museum of Art — allegedly used the offshore accounts to hide earnings from underground artwork buying and selling.
Tony Blair, Britain’s longest-serving prime minister, prevented paying greater than $580,000 in property switch taxes by buying an $11 million London mansion by shopping for the property by shares from a British Virgin Islands holding firm, the papers present.
Colombian-born singer Shakira, who is already in tax trouble for allegedly not paying her taxes in Spain, arrange offshore entities within the British Virgin Islands to hide property, based on the Pandora Papers.
Sports figures, together with Canadian Olympic determine skater Elvis Stojko and Formula 1 race automobile driver Jacques Villeneuve, additionally made the prolonged listing.
The data, with 2.94 terabytes of knowledge, dwarf the Panama Papers in measurement.