Rich and powerful deny wrongdoing

05 Oct, 2021

WASHINGTON: The Czech prime minister, the king of Jordan and the chairman of a well-known Indian conglomerate were among global figures denying wrongdoing on Monday after the leak of what major news outlets called a secret trove of documents about offshore finance.

India said it would investigate cases linked to the data dump, known collectively as the "Pandora Papers", while Finance Minister Shaukat Tarin said officials named in the documents would be investigated - including himself.

The Kremlin said it had seen no evidence in the leak of hidden wealth among Russian President Vladimir Putin's entourage, after the Washington Post said the documents showed Putin's mistress had used offshore funds to buy a flat in Monaco.

The dump of more than 11.9 million records, amounting to about 2.94 terabytes of data, was five years after the leak known as the "Panama Papers" exposed how money was hidden by the wealthy in ways that law enforcement agencies could not detect.

Pandora Papers expose offshore assets of heads of state, govt

The International Consortium of Investigative Journalists (ICIJ), a Washington, D.C.-based network of reporters and media organizations, said the files are linked to about 35 current and former national leaders, and more than 330 politicians and public officials in 91 countries and territories.

It did not say how the files were obtained, and Reuters could not independently verify the reports or the documents detailed by the consortium.

The use of off-shore companies is not illegal or by itself evidence of wrongdoing, but news organisations in the consortium said such transactions could be used to hide wealth from tax collectors and other authorities.

Jordan's King Abdullah, a close U.S. ally, was reported to have used offshore accounts to spend more than $100 million on luxury homes in the United Kingdom and the United States.

The royal palace said in a statement it was "no secret that His Majesty owns a number of apartments and residences in the United States and the United Kingdom.

This is not unusual nor improper." In his first comments on the matter, Abdullah told tribal leaders: "The cost of these properties and all related expenditures have been personally funded by His Majesty.

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