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Pandora Papers: VI among financial services jurisdictions breached

- Pandora Papers leaks almost 12 million documents
In what has been described as one of the biggest leaks of financial documents, the Pandora Papers has exposed the secret wealth and dealings of world leaders, politicians and billionaires. Photo: BBC
The Pandora Papers show how ex-UK PM Anthony Charles Lynton Blair aka ‘Tony’ and his wife Cherie saved £312,000 in stamp duty when they bought a London office. Hypocritically, Mr Blair had been critical of tax loopholes. Photo: Getty Images
The Pandora Papers show how ex-UK PM Anthony Charles Lynton Blair aka ‘Tony’ and his wife Cherie saved £312,000 in stamp duty when they bought a London office. Hypocritically, Mr Blair had been critical of tax loopholes. Photo: Getty Images
The Pandora Papers leak also links Russian President Vladimir Putin to secret assets in Monaco. Photo: Internet Source
The Pandora Papers leak also links Russian President Vladimir Putin to secret assets in Monaco. Photo: Internet Source
The Pandora Papers leak could prove embarrassing for the UK government led by Prime Minister Alexander Boris de Pfeffel Johnson. Photo: Internet Source
The Pandora Papers leak could prove embarrassing for the UK government led by Prime Minister Alexander Boris de Pfeffel Johnson. Photo: Internet Source
ROAD TOWN, Tortola, VI- In what has been described as one of the biggest leaks of financial documents, the Pandora Papers has exposed the secret wealth and dealings of world leaders, politicians and billionaires.

The examination of the files is the largest organised by the International Consortium of Investigative Journalists (ICIJ), with more than 650 reporters taking part.

The leak has given international media access to nearly 12 million documents and files from 14 financial services companies in countries including the United Kingdom, [British] Virgin Islands, Panama, Belize, Cyprus, the United Arab Emirates, Singapore and Switzerland.

According to the BBC, some 35 current and former leaders and more than 300 public officials are featured in the files from offshore companies.

Embarrassment for UK Gov’t

But one of the biggest revelations, according to the BBC, is how prominent and wealthy people have been legally setting up companies to secretly buy property in the UK.

The documents reveal the owners of some of the 95,000 offshore firms behind the purchases.

It highlights the UK government's failure to introduce a register of offshore property owners despite repeated promises to do so, amid concerns some property buyers could be hiding money-laundering activities.

The Azerbaijani President Ilham Aliyev and his family, who have been accused of looting their own country, are one example.

The investigation found the Aliyevs and their close associates have secretly been involved in property deals in the UK worth more than £400m.

It said the revelations could prove embarrassing for the UK government, as the Aliyevs appear to have made a £31m profit after selling one of their London properties to the Crown Estate - the Queen's property empire that is managed by The Treasury and raises cash for the nation.

The Pandora Papers reveal the King of Jordan secretly amassed £70m of UK and US property.

Hypocritical ‘Tony’ Blair

They also show how ex-UK PM Anthony Charles Lynton Blair aka ‘Tony’ and his wife saved £312,000 in stamp duty when they bought a London office. Hypocritically, Mr Blair had been critical of tax loopholes.

The couple bought an offshore firm that owned the building.

The leak also links Russian President Vladimir Putin to secret assets in Monaco, and shows the Czech Prime Minister Andrej Babis - facing an election later this week - failed to declare an offshore investment company used to purchase two villas for £12m in the south of France.

The UK government says it is cracking down on money laundering with tougher laws and enforcement, and that it will introduce a register of offshore companies owning UK property when parliamentary time allows.

The leaked financial documents show how the King of Jordan secretly amassed a property empire in the UK and US worth more than £70m (over $100m).

They identify a network of offshore companies in the [British] Virgin Islands and other financial services jurisdictions used by Abdullah II bin Al-Hussein to buy 15 homes since he assumed power in 1999.

It should be noted; however, that many of the transactions in the Pandora Papers involve no legal wrongdoing.

27 Responses to “Pandora Papers: VI among financial services jurisdictions breached”

  • blah (04/10/2021, 07:29) Like (77) Dislike (1) Reply
    No crimes reported. This is just smart business. This is why people go to different states to make certain transactions, or to live and work. This is why the UK exited the European Union. This is why The US prefer to do their manufacturing in places like China where there is cheap labor. No crimes committed just finding a way to save money without breaking the law.
    • @blah (04/10/2021, 09:00) Like (48) Dislike (4) Reply
      Except for the crime committed by the scavengers who have breached data protection laws by hacking systems (or whatever means) and publishing data. They, along with their supporters should see the fullest extent of the law for this malicious and illegal act. Forces must be joined against this crime that is neither normal nor acceptable.
      • blah (04/10/2021, 14:01) Like (6) Dislike (1) Reply
        Yep, those criminals belong in jail and if the journalist were a part of the conspiracy to breach personal data I hope they can be found liable under GDPR laws. Members of the EU’s personal data were breached which should be a violation.
    • Blah Blah Blah (04/10/2021, 09:57) Like (15) Dislike (1) Reply
      Last Sentence:

      "It should be noted; however, that many of the transactions in the Pandora Papers involve no legal wrongdoing."
    • @blah (06/10/2021, 10:46) Like (0) Dislike (0) Reply
      The UK claimed that was why they left the EU but a basic understanding of the topic will show you that this was not a strong point in an otherwise salient argument.

      This is why the pound is weaker now, rather than stronger.
  • to be honest (04/10/2021, 07:59) Like (5) Dislike (1) Reply
    It’s hysterical that part of the Blair’s spin defense is that the said property is NOW liable for stamp duty when sold, if you consider the tax is always the buyers liability not the Sellers.
  • Lucifer (04/10/2021, 08:21) Like (7) Dislike (5) Reply
    Not sure anyone in BVI is in a position to criticise the UK for failure to introduce a register of offshore property owners. When publicly available ownership registers are available here, then we can talk
    • Angel (05/10/2021, 01:01) Like (0) Dislike (0) Reply
      Simply pointing out UK's usual hypocrisy in criticising and pressuring others to do things they are not prepared to do. In contrast, VI has been live and let live.
  • Hmmmm (04/10/2021, 08:23) Like (5) Dislike (0) Reply
    Without breaking the law. Legal crooks they all are. Let it had been a little black with raw $100 bills you would see how quick they seize it from he. Them UK politicians are the most corrupt crooks and no coi. Now they we blacks bout coi.
  • resident (04/10/2021, 08:33) Like (0) Dislike (1) Reply
    the rich like everyone else likes to save money
  • Concern Virgin Islander (04/10/2021, 08:38) Like (3) Dislike (0) Reply
    After reading some of these Documents and looking at the timing of the release was just thinking out LOAD, We in the BVI did not do anything wrong with Our dealings in offering a service. But we are again being slandered in the international press. How Come???????
    What is it did there want us too do?????
    I guess there want us not being able to feed or families, and be the door mat for the Rich.
    or Back to slavery.
    • @concern (04/10/2021, 14:49) Like (6) Dislike (0) Reply
      That's how they play. If we had oil, they would say we have weapons of mass destruction. Whatever you have,they want. The devil came to steal, kill and destroy. That's who they belong to.
  • Nationalist (04/10/2021, 09:15) Like (4) Dislike (0) Reply
    The socialists hate anyone with wealth. They believe every politician or wealthy individual who invest through a company is dodgy. They have no respect for privacy. The perfect country for ICIJ and those who think like them is Cuba with their socialist system.
  • Help (04/10/2021, 09:17) Like (2) Dislike (0) Reply
    can we focus on the future development for the virgin islands we all up in other folks business affairs while the smoke at pockwood pond killing some of us and this going one for several years. public roads going from bad to worse.
  • LOOKS LIKE (04/10/2021, 09:24) Like (0) Dislike (0) Reply
    WE GOT SCOTLAND YARD IN THE HOUSE NOW / I WONDER HOW WE CANNOT ALL THE INFO ON WHATS REALLY GOING ON HERE ALSO
  • well ... (04/10/2021, 09:53) Like (3) Dislike (1) Reply
    VI playing with the 'BIG' boys. The same boys that wanna cut VI's financial services industry throat. So, what then is the purpose of the ICIJ? Thing to talk ...
  • Well Well (04/10/2021, 09:56) Like (5) Dislike (3) Reply
    What in darkness must come to light and what goes around must come around don't care how long it takes
  • all around corrupt (04/10/2021, 10:13) Like (3) Dislike (1) Reply
    Politics and politicians around the world corrupt, that don't make it right or justifiable. They all have to be brought to justice....even our own. We cannot hide our heads in the sand and say them doing it too so why they don't leave us alone. Nope, wrong is wrong no matter who it is.
  • hello (04/10/2021, 10:15) Like (0) Dislike (0) Reply
    That is just part of the new that not all the Kenyatta's 14 law firm service provider company in Panama and bvi offshore investment with stocks and bonds wort I will not say the amount and others tax heavens it's all in the BBC news check it out
  • @blah (04/10/2021, 10:18) Like (2) Dislike (2) Reply
    Was the Beneficial Ownership Secure Search System Act of 2017 followed?
  • Rubber Dick (04/10/2021, 10:37) Like (1) Dislike (3) Reply
    Nothing illegal we need the esteemed speaker to do another interview
  • Free Of Charge Advisory: Distractions attempted from the core issues are not offering transparency in ours. (04/10/2021, 10:45) Like (1) Dislike (6) Reply
    Distractions tactical attempts from the core issues are not offering any transparency in ours Come clean. Even if other nations wrongs are known, and this knowledge is a true fact, can we change the world's nations corrupted political ways? How is knowing others misdeeds vendicate our local political leaders from theirs breached of mismanagement of our finances by them for past 50 yrs, expecially the past 20 yrs, and more especially the past 10 yes by the NDP and VIP governments? If I am wrong, why else would the CoI probing of mismanagement of our finances by political leaders be for? Can anyone that read this posted message give us a truthful answer?
  • Said I said I (04/10/2021, 12:39) Like (1) Dislike (1) Reply
    I am surprised Trump name is not mentioned
  • rattie (04/10/2021, 13:00) Like (2) Dislike (3) Reply
    This is just like the coi a racist mob
  • xxxxx (04/10/2021, 14:43) Like (2) Dislike (1) Reply
    Trying hard to find dirt on us when theirs is filthier than ours. Suppose our politicians was half as corrupt as these people they would be in jail long time. when they do it it is legal. Hypocracy of those people,and some of us hate our own so much we cannot see the truth. They want to get their hands on the little we have here. If UK take over for a few years the damage that will be done will be worse than what the polirician have done over the past 50 years.


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