06 April 2016

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Panama Papers List names of 140 world politicians with tax heaven accounts

Panama Papers List names of 140 world politicians with tax heaven accounts

Below is the list, names of worlds leader’s politicians from more than 50 countries, connected to offshore companies in 21 tax heavens includes heads of state, their associates, ministers and elected officials.

Mauricio Macri
President of Argentina (2015-present); Mayor of Buenos Aires (2007-2015)
Macri, his father Francisco and brother Mariano were directors of Fleg Trading Ltd, incorporated in the Bahamas in 1998 and dissolved in January 2009, In asset declarations in 2007 and 2008 when he was mayor of Buenos Aires, Macri did not disclose his connection to Fleg Trading. He declared a Merrill Lynch bank account in the United States with $2.9 million in 2007 and $1.9 million in the same account in 2008. Macri also declared $158,000 in foreign assets in 2008, but did not specify their source or location.

Bidzina Ivanishvili
Prime minister of Georgia (2012-2013)
Related countries – Georgia
Bidzina Ivanishvili was owner of Lynden Management Ltd., a company based in the British Virgin Islands.

Sigmundur Davíð Gunnlaugsson
Prime minister of Iceland (2013–present); Member of Parliament (2009–present); Chairman of the Progressive Party (2009-present)
Related countries -  Iceland, Luxembourg, Virgin Islands, British

Offshore company held millions of dollars worth of bonds in Iceland banks that failed
Gunnlaugsson and Pálsdóttir owned a British Virgin Islands shell company called Wintris Inc., which held nearly $4 million in bonds in the three major Icelandic banks. Those banks collapsed in 2008, and Gunnlaugsson campaigned against bailing out foreign creditors. It is unclear whether Gunnlaugsson’s political positions benefited or hurt the value of the bonds held by Wintris. In 2009, Gunnlaugsson entered parliament but failed to declare his ownership of Wintris. On the last day of 2009, he sold his 50 percent share in Wintris to Pálsdóttir for a dollar. Mossack Fonseca noted in April 2013 that Pálsdóttir was a so-called politically exposed person, but internal records suggest the firm did nothing about it.

Ayad Allawi
Vice-President of Iraq (2014-2015); Interim Prime Minister of Iraq (2004-2005)
Related countries - Iraq, United Kingdom

Firms created in Panama held property in London

Mossack Fonseca supplied his 1985 Panama-registered company I.M.F. Holdings Inc. with people who stood in for Allawi as directors. He was listed as the sole shareholder in 2000. Until its dissolution in 2013, I.M.F. owned a house in Kingston upon Thames, England. As of April 2013 the property appeared under the name of Allawi and had an estimated value of about $1.5 million. Allawi’s other offshore company, Moonlight Estates Limited, also held a property in London on his behalf. Documents for this BVI-registered entity identify the source of funds as personal savings.

Ali Abu al-Ragheb
Prime Minister of Jordan and Minister of Defense (2000-2003); Member, Senate (2003-2010)
Related countries - Jordan

Al-Ragheb was director of offshore companies in British Virgin Islands, owned others in Seychelles in July 2003, just months before he resigned as prime minister, Ali Abu al-Ragheb and his wife Yusra became directors of the British Virgin Islands company Jaar Investment Ltd., which held an account with Arab Bank in Geneva, Switzerland.
The company was inactivated in August 2008. Earlier in 2008 they became directors of Jay Investment Holdings Ltd also based in the British Virgin Islands.Until December 2014 al-Ragheb also owned three Seychelles companies. His children were involved as directors in several additional BVI companies, including Desertstar Investment Capital Ltd., which also held an account at Arab Bank in Geneva that was used to invest in Jordan.

Hamad bin Jassim bin Jaber Al Thani
Prime Minister of Qatar (2007-2013); Foreign Minister of Qatar (1992-2013)
Related countries - Qatar

Offshore company used to manage $300 million yacht

In 2002, Hamad bin Jassim bin Jaber Al Thani acquired a company in the British Virgin Islands and three additional companies in the Bahamas. Through these companies, Al Thani held shares and mooring spaces in the Spanish port of Palma, Mallorca, and managed his super-yacht, the $300 million Al Mirqab. Al Thani took over management of these companies in 2004, dissolving them a few years later. In 2011, when Qatar started investing in Luxembourg companies, Al Thani acquired four Panamanian companies to hold bank accounts in the Grand Duchy, two of which he owned with the then-Emir of Qatar, Hamad bin Khalifa Al Thani, according to documents from July 2013.

Sheikh Hamad bin Khalifa Al Thani
Former ruling emir of the State of Qatar (1995–2013)
Related countries – Qatar
Sheikh Hamad bin Khalifa Al Thani ruled over the energy-rich nation of Qatar from 1995 to 2013

King Salman bin Abdulaziz bin Abdulrahman Al Saud
King of Saudi Arabia (2015-present); Crown Prince (2012-2015)
Related countries - Saudi Arabia
British Virgin Island company used for mortgages on luxury homes in London and to hold yacht

Ahmad Ali al-Mirghani
President of Sudan (1986-1989)
Related countries -  Sudan
Offshore company owned a London apartment

Khalifa bin Zayed bin Sultan Al Nahyan
President of the United Arab Emirates and emir of Abu Dhabi (2000-present)
Related countries - United Arab Emirates

British Virgin Islands companies used to buy luxury real estate and other properties

Sheikh Khalifa was the beneficial owner of at least 30 companies established in the British Virgin Islands by Mossack Fonseca, through which he held commercial and residential properties in pricey areas of London such as Kensington and Mayfair, worth at least $1.7 billion. The Sheikh financed his acquisitions through loans from the London branch of the National Bank of Abu Dhabi and the Royal Bank of Scotland. Until 2007, Mossack Fonseca provided companies that acted as directors and shareholders of the Sheikh's BVI companies. By December 2015, nearly all the shares in those companies were held by Mossack Fonseca through trust structures, but the true beneficiary remained the Sheikh, as well as his wife, son and daughter.

Pavlo Lazarenko
Prime Minister of Ukraine (1996-1997); Energy Minister (First Deputy Prime Minister with special responsibility for energy affairs) (1995-1996)
Related countries -Ukraine

Offshore companies were subjects of multiple corruption investigations

Lazarenko and his offshore firms have been a target of law enforcement investigations, going back to 1998, when British Virgin Islands police served three search warrants on Mossack Fonseca. Two sought information on Metalsrussia Corp Ltd. and Southeast Asia Metal Limited, naming Lazarenko and Yulia Tymoshenko, who would later become Ukraine’s president, and her husband in the warrants. A third sought information concerning "an investigation into Criminal Offences involving misappropriation of state or public property and forgery in respect of Bainfield Company Ltd." and additional information on Bassington Ltd. Lazarenko was a shareholder in both, dating back to the mid-1990s. Lazarenko was convicted of money laundering in Switzerland in June 2000 and convicted of money laundering in the United States in 2004 and sentenced to nine years in prison, later reduced to 97 months. U.S. authorities are still seeking $250 million from his offshore accounts.

Petro Poroshenko
President of Ukraine (2014-present); Economic Development and Trade Minister (2012)
Related countries – Ukraine

Offshore firm holds assets including a European candy manufacturer

In August 2014, as Russian troops rolled into Eastern Ukraine, Poroshenko became the sole shareholder of Prime Asset Partners Limited, which Mossack Fonseca set up in the British Virgin Islands. A Cyprus law firm representing the newly acquired company described it as a “holding company of Cyprus and Ukrainian companies of the Roshen Group, one of the largest European manufacturers of confectionery products.”

Mohammad Mustafa
Palestinian Deputy Prime Minister and Minister of National Economy (2014-2015); Deputy Prime Minister for Economic Affairs (2013-2014)
Related countries - Palestine, State of Jordan
Offshore investment company sent funds from Arab countries to Palestine

Pedro Delgado
Governor of Ecuador's Central Bank (2011-2012)
Related countries -Ecuador

Stavros Papastavrou
Deputy Chief of Staff for European and International Affairs, Office of Greek Prime Minister Antonis Samaras (2012-2015); International Affairs Secretary of the Nea Demokratia (New Democracy) political party (2004-2015)
Related countries -Greece
Involved in multiple offshore foundations

Jaynet Désirée Kabila Kyungu
Member of Parliament, Democratic Republic of the Congo (2012-present)
Related countries - Congo, The Democratic Republic of the
Offshore company has holding in Congo's wireless communications business

Nurali Aliyev
Deputy Mayor of Astana (2014-2016); Deputy Chairman of the board of state-owned Development Bank of Kazakhstan (2008-2013)
Related countries -Kazakhstan

In June 2008 Aliyev became a shareholder of Baltimore Alliance Inc. Based in the British Virgin Islands, the company was inactivated in 2014. The main activity of Baltimore was to own, purchase and sell yachts. In 2008 the company bought a 77-foot yacht, the Nomad, registered in the BVI by Mossack Fonseca.
In February 2009, Aliyev was replaced as one of the shareholders of Baltimore by a BVI company called Greatex Trade & Invest Corp. Greatex ceased being a shareholder of Baltimore in July 2011. According to a 2015 report by Global Witness, Greatex controlled companies in the United Kingdom that owned property in London. From 2007 to 2008, Nurali Aliyev was also administrator president of Greatex (Suisse) SA, a Swiss company that traded in raw materials. As of December 2015, Nurali Aliyev also owned Alba International Holdings Ltd., founded in the BVI in September 2014, which he used to hold a bank account in Cyprus.

Riccardo Francolini
Chairman of state-run bank Caja de Ahorros (2009-2014); Vice president of state-run airport authority Aeropuerto Internacional Tocumen S.A (2009-2014)
Related countries -Panama
Held offshore companies during years he helped run state-controlled firms

César Almeyda
Head of Peru’s National Intelligence Council (Consejo Nacional de Inteligencia, the nation’s intelligence agency) (2003); President, National Institute for the Defense of Competition and Protection of Intellectual Property (Indecopi) (2002-2003)
Related countries - Peru

Abdeslam Bouchouareb
Algerian Minister of Industry and Mines (2014-present); Member of Parliament (2002-present)
Related countries -Algeria
Offshore company said to be used for business activities in Turkey, the United Kingdom and Algeria

José Maria Botelho de Vasconcelos
Minister of Petroleum, Angola (1999-2002) (2008-present); Minister of Energy and Water (2002-2008)
Related Countries-Angola
Offshore use goes back to his first time as minister of petroleum

Néstor Grindetti
Mayor of Lanus, Argentina (2015-present); Minister of Treasury in the Autonomous City of Buenos Aires (2007-2015)
Related countries -Argentina

Ang Vong Vathana
Minister of Justice, Cambodia (2004-present)
Related countries -Cambodia

Jérôme Cahuzac
Budget minister at the Ministry of the Economy, Finance and External Trade (2012-2013); Deputy, National Assembly of France (1997-2002, 2007-2012)
Related countries -France

Bjarni Benediktsson
Iceland’s Minister of Finance and Economic Affairs (2013-present); Member of Parliament (2003-present); Chairman of the Independence Party (2009-present)
Related countries -Iceland

Ólöf Nordal
Interior Minister of Iceland (2014–present); Member of parliament (2007-present)
Related countries -Iceland

Konrad Mizzi
Maltese Minister for Energy and Health (2014-present); Deputy Leader for Party Affairs, Labour Party of Malta (2016-present)
Related countries -Malta

João Lyra
Member of Brazil's Chamber of Deputies (2003-2007, 2011-2015); Senator (1989-1991)
Related countries – Brazil

Galo Chiriboga
Ecuador’s Attorney General (2011-present); Minister of Mining and Petroleum (2007-2008)
Related countries -Ecuador

Zsolt Horváth
Member of Hungary’s National Assembly (1998-2014)
Related countries -Hungary

Kalpana Rawal
Deputy Chief Justice, Supreme Court of Kenya (2013-present); Judge, Court of Appeals (2012-2013)
Related countries – Kenya, India and United Kingdom
Used offshore companies to buy and sell London real estate

Paweł Piskorski
President of the Polish political party Alliance of Democrats (Stronnictwo Demokratyczne) (2009-present); Member of the European Parliament (2004-2009)
Related countries -Poland

Mohammad bin Naif bin Abdulaziz Al-Saud
Crown Prince (2015-present); Interior Minister (2012-present)
Related countries- Saudi Arabia

Pamela Sharples
Baroness, United Kingdom House of Lords Member (1973-present)
Related countries -United Kingdom
Bahamas company was used for investments

Michael Ashcroft
Member, United Kingdom House of Lords (2000-2015); Deputy Chairman, Conservative Party (2005-2010)
Related countries -United Kingdom, Belize
Offshore company represented Mossack Fonseca in Belize

Michael Mates
Member, British Parliament (1974-2010)
Related countries -United Kingdom
Offshore companies used for real estate development in the Caribbean

Mates' parliamentary financial disclosures listed him as chairman of Haylandale Limited from April 2005 to at least April 2010

Jesús Villanueva
Director of PdVSA (2005-2008); Auditor of PdVSA
Related countries -Venezuela, Bolivarian Republic of

Alfredo Ovalle Rodríguez
President of the Chilean Confederation of Production and Commerce (2006-2008); President of trade association Sociedad Nacional de Minería (Sonami) (2005-2009)
Related countries -Chile

Ian Kirby
President, Botswana Court of Appeal (2010-present); Attorney General (2003-2005)
Related countries -Botswana
One of many shareholders in offshore companies, some of which owned UK real estate

Bruno Jean-Richard Itoua
Minister of Energy and Hydraulics (2005-2011); Minister of Scientific Research and Technical Innovation (2011-present)
Related countries -Congo

James Ibori
Governor of Nigeria’s oil-rich Delta State (1999-2007)
Related countries -Nigeria

Emmanuel Ndahiro
Brigadier General (2015-present); Chief of the intelligence agency in Rwanda (2004-2011)
Related countries -Rwanda

Attan Shansonga
Former Zambian ambassador to the U.S. (2000-2002)
Related countries -Zambia

Víctor Cruz Weffer
Venezuela’s commander-in-chief of the Armed Forces (2001); President of National Fund for Urban Development (2000-2001)

Related countries -Venezuela, Bolivarian Republic of

Anurag Kejriwal
Former Delhi state president of Lok Satta Party (2013-2014)
Related countries -India

British Virgin Islands company set up for iron ore trading

Kejriwal and his wife set up their first company in the British Virgin Islands in 2007. In 2008 and 2010, they restructured their assets and established two foundations in Panama of which they, and their son, were beneficiaries. Through The Nedstar Foundation, they owned Nedstar Commercial Ltd. and Newington Group Trading Ltd., both based in the BVI. Newington's activity was trading in iron ore. Through The Pruak Foundation, they owned Biscay Overseas Limited — later renamed Biscay Exports Limited — and Krims Investments Inc., also based in the BVI. They signed a financing agreement with the bank BNP Paribas (Suisse) SA for Nedstar Commercial. In 2011, 2012, and 2013, Mossack Fonseca received documents related to legal proceedings against Kejriwal's companies. The Nedstar Foundation and Nedstar Commercial were inactivated in 2011, Biscay in 2012, and both Krims and Pruak in 2013. Newington was struck off in October 2012.

Nawaz Sharif
Prime Minister of Pakistan (1990-1993) (1997-1999) (2013-present)
Relatives in the data: Mariam Safdar, Hasan and Hussain Nawaz Sharif
Related countries – Pakistan, United Kingdom

Offshore companies owned United Kingdom properties

Three children of former and current Pakistan's Prime Minister Nawaz Sharif – Mariam, Hasan and Hussain– were owners or had the right to authorize transactions for several companies. Daughter Mariam Safdar was the owner of British Virgin Islands-based firms Nielsen Enterprises Limited and Nescoll Limited, incorporated in 1994 and 1993. Sharif's first term as prime minister ended in 1993. The companies owned "a UK property each for use by the family" of the companies' owners. Hussain and Mariam signed a document dated June 2007 that was part of a series of transactions in which Deutsche Bank Geneva lent up to $13.8 million to Nescoll, Nielsen and another company, with their London properties as collateral. In July 2014, the two companies were transferred to another agent. Mossack Fonseca knew that Mariam Safdar was Nawaz Sharif's daughter, a "Politically Exposed Person," and committed to checking her activities twice a year beginning in July 2012. Hasan Nawaz Sharif was the sole director of Hangon Property Holdings Limited incorporated in the British Virgin Islands in February 2007, which acquired Liberia-based firm Cascon Holdings Establishment Limited for about $11.2 million in August 2007. Mossack Fonseca resigned as agent for Hangon because Hasan Nawaz Sharif was a "Politically Exposed Person."

Ilham Aliyev
President of Azerbaijan (2003-present)
Relatives in the data: Prime Minister Ilham Aliyev's wife, children and sister
Related countries -Azerbaijan
Sprawling offshore complex held interests in gold mining, real estate and a business conglomerate

Xi Jinping
Head of China’s Communist Party (2012-present); President of China (2013-present)
Relatives in the data: Deng Jiagui
Related countries -China

Deng Jiagui, who has made a fortune in real estate development, became “Red Nobility” in 1996 when he married Qi Qiaoqiao, the daughter of Xi Zhongxun, one of China's revolutionary heroes and a former top official. Qi Qiaoqiao’s younger brother is Xi Jinping, who is president of China and head of China’s Communist Party. An investigative report by Bloomberg News in 2012 revealed that Deng and his wife had hundreds of millions of dollars in real estate, shareholdings and other assets.

Offshore companies acquired as brother-in-law was rising in politics

In September 2009, Deng Jiagui, brother-in-law of one of China’s most important politicians, current President Xi Jinping, became the sole director and shareholder of two British Virgin Islands-based “shelf companies” in Mossack Fonseca's inventory. The companies were called “Best Effect Enterprises Ltd” and “Wealth Ming International Limited.” Mossack Fonseca helped Deng obtain a “chop” – a carved metal or stone seal often used by Chinese businesses to validate documents in lieu of signatures – for Best Effect Enterprises. It is unclear what the two companies were used for. At the time, Xi Jinping was one of nine men on the all-powerful Politburo Standing Committee, the body that rules China. By the time Xi was named general secretary of the Chinese Communist Party in 2012 and the country’s president in 2013, Deng’s two BVI companies were dormant.

Li Peng
Premier of the People's Republic of China (1988-1998); Chairman of the Standing Committee of the National People’s Congress (1998-2003)
Relatives in the data: Li Xiaolin
Related countries -China

Li Xiaolin is the second child and only daughter of former Chinese Premier Li Peng. She was the vice president of China Power Investment Corporation, a state-run power company and served as a delegate to the Chinese People’s Political Consultative Conference or CPPCC, an advisory body to the Chinese legislature. She has been called China’s “Power Queen.”

Offshore company's profits attributed to heavy machinery exports

Li Xiaolin and her husband Liu Zhiyuan were the beneficial owners of “Fondation Silo,” a Lichtenstein foundation that was the sole shareholder of “Cofic Investments Ltd.,” a company incorporated in the British Virgin Islands when her father Li Peng was prime minister of China. The couple’s Swiss lawyer told Mossack Fonseca that Cofic’s source of funds was business profits from helping other clients of his law firm export heavy machinery from Europe to China.

Vladimir Putin
President of Russia (2000–2008) (2012-present); Prime Minister of Russia (2008-2012)
Associates in the data: Arkady and Boris Rotenberg
Related countries -Russian Federation, Finland, Switzerland

Billionaire brothers Arkady and Boris Rotenberg had the incredible good fortune of being childhood friends of Russian President Vladimir Putin. As teenagers, they bonded with Putin over Sambo, a Russian martial art, and judo. Arkady Rotenberg has insisted that they don’t get preferential treatment from Putin, but during his tenure as Russian leader the brothers have amassed a multibillion dollar fortune in part through lucrative contracts with state and state-owned companies. In March 2014, they were placed under U.S. sanctions for providing support to, and benefiting from, “Putin’s pet projects” including “approximately $7 billion in contracts for the Sochi Olympic Games.”

Offshore companies' investments included a pipeline company and helping build an Italian villa for Arkady's son

Arkady and Boris Rotenberg were owners of at least seven companies registered in the British Virgin Islands, six with the help of Markom Management, a company that stayed in touch with Mossack Fonseca on behalf of the Rotenbergs. Arkady Rotenberg was connected to four of the companies and Boris Rotenberg to three of them. The companies often acted as interlocking shareholders alongside Markom, which was formerly SP Management. The firms were involved in everything from investing in a major pipeline construction company (through Causeway Consulting from Arkady Rotenberg) to buying equipment for the construction of an Italian villa in Tuscany for Arkady’s son Igor Rotenberg (through Highland Ventures Group from Boris Rotenberg). Arkady Rotenberg was also the owner of Honeycomb Holdings Ltd., according to the financial database Orbis. By summer 2015, Markom began to redomicile most of the Rotenbergs’ companies in Cyprus.

Vladimir Putin
President of Russia (2000–2008) (2012-present); Prime Minister of Russia (2008-2012)
Associates in the data: Sergey Roldugin
Related countries -Russian Federation, Switzerland

As young men in the late 1970s, Sergey Roldugin and Vladimir Putin became very close, “almost like brothers,” according to Roldugin. Putin went on to join the KGB and is now president of Russia.

Companies received advantageous loans

Sergey Roldugin was an owner of three offshore companies: Sonnette Overseas, International Media Overseas and Raytar Limited. St. Petersburg-based Bank Rossiya, which the U.S government described as Russia’s “personal bank for senior officials,” created the first two. The Rossiya executive in charge of setting up Sonnette described Roldugin as being “assigned” to the company.. In March 2008, Sonnette Overseas and four other offshore-companies gained major influence over Kamaz, Russia's largest truckmaker, for almost a year. International Media Overseas Owned Med Media Network, which in turn controlled 12.5% of Vi, Russia’s largest television advertising buyer, formerly known as Video International. Another Bank Rossiya-created company assigned International Media Overseas the rights to a $200 million loan for $1.

Bashar Assad
President of Syria (2000-present)
Relatives in the data: Rami and Hafez Makhlouf
Related countries -Syrian Arab Republic
Companies held large variety of business interests for brothers

David Cameron
United Kingdom's Prime Minister (2010-present); Leader of the Conservative Opposition (2005-2010); Member of the British Parliament (2001- present)
Relatives in the data: Ian Cameron
Related countries -United Kingdom

Ian Cameron, who died in 2010, is the father of British Prime Minister David Cameron. Born with severely deformed legs, he underwent multiple surgeries but managed to pursue amateur sports and made his fortune as a stockbroker and investor. He became senior partner in brokerage Panmure Gordon, as his father and grandfather had been before him.

Offshore investment firm highlighted to investors that it was managed to avoid taxes

Cameron helped create and develop Blairmore Holdings Inc. in Panama in 1982 and was involved in the investment fund until his 2010 death. Although Cameron didn't appear as director of Blairmore until 1989, a 2006 prospectus said he "was instrumental in the formation of Blairmore Holdings Inc. in the early 1980s." In July 1998, the fund was valued at nearly $20 million. Promotional literature noted the fund was “not liable to taxation on its income or capital gains” and that the fund "will not be subject to United Kingdom corporation tax or income tax on its profits." Blairmore used a large amount of bearer shares –unregistered shares that belong to anyone who physically holds the share certificates– until 2006.

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