Pandora Papers, a global investigative report on corruption in high places through undisclosed offshore accounts - the result of global collaboration by the International Consortium of Investigative Journalists (ICIJ) - has touched global politicians, business personalities, media tycoons, and leading celebrities across the world. From Pakistan’s Energy Minister Shaukat Tareen to India’s cricketing icon Sachin Tendulkar and the cousin of Sri Lankan President Goatabaya Rajapaksa, the list contains thousands of names, including a few hundred in South Asia - with the most in Pakistan. 

Over 700 names figured in the list from Pakistan alone, including several politicians, among whom were those from the ruling Pakistan Pakistan Tehreek-e-Insaf (PTI),

The leaked document purportedly revealed key members of Prime Minister Imran Khan’s inner circles secretly moved funds worth millions of US dollars offshore. However, his name didn’t come up directly.

Among media bigwigs who figured in the leaked emails were Jang editor-in-chief Mir Shakilur Rehman, Dawn CEO Hameed Haroon and Express Media Group CEO Sultan Ali Lakhani. Names of various officials and their relatives, connected to the country’s powerful military, also made it into the list.

The papers allegedly showed Akbar Asif, the son of famous Indian film director K Asif, transferred a luxury London apartment to the wife of General Shafaat Shah using shell companies. Shah was a key military officer in the Pakistani Army during President Pervez Musharraf’s tenure.

According to the Indian Express, which investigated the names from India as a part of the international collaboration of journalists, the Pandora Papers reveal “how the rich, the famous and the notorious, many of whom were already on the radar of investigative agencies, set up complex multi-layered trust structures for estate planning, in jurisdictions which are loosely regulated for tax purposes, but characterized by air-tight secrecy laws”.

Among the prominent names figuring from India are Reliance ADA Group chairman Anil Ambani and his representatives, who allegedly own at least 18 offshore companies in Jersey, British Virgin Islands (BVI) and Cyprus, and is believed to have parked over USD 1.6 billion. Ambani's lawyers have denied any wrongdoing and said he had made appropriate disclosures to tax authorities. 

The husband of the Biocon promoter Kiran Mazumdar Shaw, and the sister of fugitive businessman Nirav Modi, alongside Bollywood actor Jackie Shroff, found mention in the list, prepared from what is being called the biggest ever leak of offshore financial records,

According to The Indian Express, the list has over 300 Indian names, including Tendulkar, who, along with his family members, are said to be the beneficial owners of an offshore entity in the British Virgin Islands (BVI) which was liquidated in 2016. Tendulkar too has denied any wrongdoing 

In Sri Lanka, the name of President Goatabaya Rajapaksa’s cousin, Nirupama Rajapaksa, who is a former parliamentarian, found a mention in the list.

It has been alleged in the leaked files that Rajapaksa and her husband Thirukumar Nadesan together controlled a shell company they used to buy luxury apartments in London and Sydney and to make investments, according to leaked files.  

In a series of tweets, Pakistan PM Imran Khan promised to investigate all names from his country that appeared on the list.

“We welcome the Pandora Papers exposing the ill-gotten wealth of elites, accumulated through tax evasion & corruption & laundered out to financial "havens". The UN SG's Panel FACTI calculated a staggering $7 trillion in stolen assets parked in largely offshore tax havens,” he tweeted.

“My govt will investigate all our citizens mentioned in the Pandora Papers & if any wrongdoing is established we will take appropriate action. I call on the international community to treat this grave injustice as similar to the climate change crisis,” Imran Khan said in another tweet.

The Indian government ordered an investigation into the issue and announced that it would be monitored by a multi-agency group headed by the chairman of the Central Board of Direct Taxes (CBDT).  

In a tweet, India’s Income Tax authorities said the government has taken note of the data trove in the Pandora Papers' leak and issued directions for the investigation.

According to The Guardian, the Pandora Papers exposed financial secrets of the rich and powerful.

Altogether 12 million documents from 14 companies in offshore tax havens with details of ownership of 29,000 offshore companies and Trusts were obtained by the International Consortium of Investigative Journalists (ICIJ) two years ago.

The papers found companies were hired by wealthy clients to create offshore structures and trusts in tax havens such as Panama, Dubai, Monaco, Switzerland, British Virgin Islands and the Cayman Islands.

The list includes names of 35 world leaders, including current and former presidents, prime ministers and heads of state.

They also deal with the secret finances of more than 300 other public officials such as government ministers, judges, mayors and military generals in more than 90 countries.

The files were leaked to the ICIJ in Washington. It shared access to the leaked data with select media partners including The Guardian, BBC Panorama, Le Monde, the Washington Post  and The Indian Express. More than 600 journalists sifted through the files as part of a massive global investigation.

(SAM)