In one of the biggest leak of how world’s top politicians and super rich hide their money abroad, a German news paper Sueddeutsche Zeitung has released over 11 million documents of a Panamanian law firm Mossack Fonseca that is accused of helping the rich to hide their money.
Several top Indians also find mention in the papers belonging to a supre secretive law firm of Panama – Mossak Fonseca.
The leaked papers reveal how top world leaders of Russia, Malaysia and African countries hide their money in Panama.
A logo Panamanian firm Mossack Fonseca that is accused of helping the rich to hide their money abroad.
The German daily said it was contacted by a source with encrypted internal documents from Panamian law from Mossack Fonseca.
The firm specialises in selling and dealing in anonymous offshore companies around the world.
The leaked documents, described as Panama Papers, were obtained by the Munich-based daily Sueddeutsche Zeitung.
However, these leaked documents were eventaually shared with the Washington-based International Consortium of Investigative Journalists (ICIJ) and other international news outlets.
In total, some 107 media outlets in 78 countries investigated the data. Indian News Paper Indian Express also published several stories related to Panama papers leak.
The documents link at least 12 current and former heads of state and 143 other politicians to illicit financial ransactions.
Sameer Gehlaut of Indiabulls is referred as having 3 properties in London through foreign companies.
The ICIJ said, names figuring in the leak included aides to Russian President Vladimir Putin, Malaysian Prime Minister Najib Razak’s son Nazifuddin, family of Chinese President Xi Jinping, former Chinese Premier Li Peng’s daughter Li Xiaolin, children of Pakistan’s Prime Minister Nawaz Sharif, the President of Ukraine.
The story of leak of Panama papers is now widely reported in Indian media outlets.
Indian Express in its reports has named DLF founder KP Singh, Actor Amitabh Bhachchan and his daughter in law Aishwarya Rai Bachchan, India Bulls promoter Sameer Gehlaut and several other big names as having companies in tax havens like British Virgin Islands and Panama.
