From Indian royalty and celebrities to Filipino, Pakistani and Indonesian government ministers to Japanese, Korean and Nepali billionaires to a Tibetan monk — the Asian names emerging from the Pandora Papers include the rich and powerful who have been shaping the region’s economy and politics.
The investigation led by the International Consortium of Investigative Journalists was based on 11.9 million confidential records leaked from 14 offshore financial service providers that help wealthy clients set up shell companies and trusts in a variety of tax havens, including Seychelles and Dubai. Two of the providers, Asiaciti Trust and Il Shin, are based in the Asian financial hubs of Singapore and Hong Kong, respectively.
“What our investigation into the Pandora Papers has revealed is the brazenness with which many of the subjects we are writing about went about setting up offshore entities, despite the reforms in the offshore sector,” said Ritu Sarin, investigations editor at The Indian Express, an ICIJ partner.
The Indian Express identified more than 300 Indians with offshore accounts in the leaked data, including Bollywood celebrities, industrialists, people accused of fraud and other financial crimes, as well as famous sports stars like Sachin Tendulkar.
Two former officers of the Indian Revenue Service, one who was arrested for alleged corruption and money laundering, and another who was an Income Tax Chief Commissioner, were found to have Swiss bank accounts, the Indian...
Read Full Story: https://www.icij.org/investigations/pandora-papers/pandora-papers-reporting-from-across-asia/
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