Spark Global Limited Reports:
Dozens of current and former world leaders, billionaires, rock stars and government officials have stashed billions of dollars in secret offshore accounts, according to an investigation by the International Consortium of Investigative Journalists.
The so-called Pandora Papers collected nearly 12 million financial records, the Washington Post, The Guardian, the BBC and other media reported on Sunday, Detailed the existence of more than 29,000 offshore accounts. That is twice as many as the Panama Papers leak. ** has leaked millions of financial and legal records and revealed the offshore assets of powerful and influential people around the world.
The findings of the documents, to be published in a series of reports next week, reveal the secret offshore finances of about three dozen world leaders, including current and former presidents, prime ministers and heads of state. The finances of about 100 billionaires and extremely wealthy individuals are also in the trove. “Many use shell companies to hold luxury goods such as property, yachts and anonymous bank accounts,” the Guardian reported.
Dozens of powerful people and government officials from more than 90 countries and regions on Forbes’ billionaires list have these offshore accounts and investments. King Abdullah II of Jordan, for example, spent $100 million on a mansion in Malibu, Calif., documents show. The leaked documents also linked Russian President Vladimir Putin to secret assets in Monaco, the BBC reported. Records show that a woman of modest financial background with alleged ties to Mr. Putin bought a $4.1 million apartment in Monaco. At the time, the woman, Svetlana Krivornojic, was believed to be Putin’s lover.
Among the financial and legal records are memos and strategies to circumvent transparency laws and keep the existence of offshore accounts secret.