Daal main kuch kaala zaroor hai - SAMAA News Report on Panama Leaks
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Pak1stani
Prime Minister (20k+ posts)
Benazir and Nawaz Sharif Named But Not Musharraf who was having all powers but Bandey Ney Eik Paisey Ki Corruption NaHi Kii- Seena Thok Ke Kehta Hai- I served Pakistan
[h=1]Panama Papers: Asians on the list[/h]
News Desk
Asia News Network April 5, 2016 3:49 pm
[h=2]Panama Papers, documents that reveal a global web of corruption and tax avoidance, has grabbed headlines with the appearance of several prominent political and business names from Asia on the list.[/h]The year-long study of 11.5 million documents from Panama-based law firm Mossack Fonseca, which handled the offshore deals, was obtained by German daily Suddeutsche Zeitung from an anonymous source and shared with the International Consortium of Investigative Journalists (ICIJ), which reviewed it with some 370 reporters from over 70 countries.
In Asia, among the names mentioned were relatives and aides of Chinese President Xi Jinping, Pakistani Prime Minister Nawaz Sharif, Malaysian Premier Najib Razak and the Marcoses and Estradas of the Philippines.
Dawn reported that in addition to companies owned by Sharif's children, the leaks also allege that former prime minister Benazir Bhutto, her nephew Hassan Ali Jaffery and former interior minister Rehman Malik were the owners of Petrofine FZC — a company that was implicated in the Iraqi oil-for-food scandal, unearthed by a UN committee in 2005.
However, the Pakistan newspaper also quoted legal experts as saying that even in the face of these disclosures, the documents prove almost no illegality on the part of the Sharif family or others implicated in the leak.
The Straits Times noted that among the findings from the so-called Panama Papers included that of Deng Jiagui--who is married to Xi’s elder sister Qi Qiaoqiao--becoming sole director and shareholder of two British Virgin Islands (BVI) firms registered in 2009 when Xi was on the Communist Party’s Politburo Standing Committee.
Meanwhile, data also showed that Najib’s second son Mohd Nazifuddin has involvement with two BVI firms. Najib himself is in the middle of the US$700-million 1MDB scandal and the mention of his son on the list may have a backlash.
Imee Marcos, daughter of Philippine strongman Ferdinand Marcos, and her three sons were also among those on the list, the Philippine Daily Inquirer reported. Aside from the Marcoses, Senator Joseph Victor "JV" G. Ejercito, a son of ousted President Joseph Estrada, was also included.
In India, Prime Minister Narendra Modi has ordered a probe into the involvement of Indians as revealed in the Panama Papers, The Statesman said. Over 500 Indians were on the list and Modi has tasked a special multi-agency group to look into the matter.
The Kathmandu Post noted that while the Panama Papers have not named any Nepali companies, individuals and politicians, an earlier report by the ICIJ titled 'The Swiss Leaks' had revealed that eight Nepalis stashed $54 million in HSBC's Swiss private banking arm in the year 2006-07.
Amid all these, Malaysian Youth and Sports Minister Khairy Jamaluddin said the Panama Papers does not automatically implicate anyone in crimes, saying that "people set up offshore vehicles for many reasons in the course of doing business".
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[h=1]Panama Papers: Asians on the list[/h]
News Desk
Asia News Network April 5, 2016 3:49 pm
[h=2]Panama Papers, documents that reveal a global web of corruption and tax avoidance, has grabbed headlines with the appearance of several prominent political and business names from Asia on the list.[/h]The year-long study of 11.5 million documents from Panama-based law firm Mossack Fonseca, which handled the offshore deals, was obtained by German daily Suddeutsche Zeitung from an anonymous source and shared with the International Consortium of Investigative Journalists (ICIJ), which reviewed it with some 370 reporters from over 70 countries.
In Asia, among the names mentioned were relatives and aides of Chinese President Xi Jinping, Pakistani Prime Minister Nawaz Sharif, Malaysian Premier Najib Razak and the Marcoses and Estradas of the Philippines.
Dawn reported that in addition to companies owned by Sharif's children, the leaks also allege that former prime minister Benazir Bhutto, her nephew Hassan Ali Jaffery and former interior minister Rehman Malik were the owners of Petrofine FZC — a company that was implicated in the Iraqi oil-for-food scandal, unearthed by a UN committee in 2005.
However, the Pakistan newspaper also quoted legal experts as saying that even in the face of these disclosures, the documents prove almost no illegality on the part of the Sharif family or others implicated in the leak.
The Straits Times noted that among the findings from the so-called Panama Papers included that of Deng Jiagui--who is married to Xi’s elder sister Qi Qiaoqiao--becoming sole director and shareholder of two British Virgin Islands (BVI) firms registered in 2009 when Xi was on the Communist Party’s Politburo Standing Committee.
Meanwhile, data also showed that Najib’s second son Mohd Nazifuddin has involvement with two BVI firms. Najib himself is in the middle of the US$700-million 1MDB scandal and the mention of his son on the list may have a backlash.
Imee Marcos, daughter of Philippine strongman Ferdinand Marcos, and her three sons were also among those on the list, the Philippine Daily Inquirer reported. Aside from the Marcoses, Senator Joseph Victor "JV" G. Ejercito, a son of ousted President Joseph Estrada, was also included.
In India, Prime Minister Narendra Modi has ordered a probe into the involvement of Indians as revealed in the Panama Papers, The Statesman said. Over 500 Indians were on the list and Modi has tasked a special multi-agency group to look into the matter.
The Kathmandu Post noted that while the Panama Papers have not named any Nepali companies, individuals and politicians, an earlier report by the ICIJ titled 'The Swiss Leaks' had revealed that eight Nepalis stashed $54 million in HSBC's Swiss private banking arm in the year 2006-07.
Amid all these, Malaysian Youth and Sports Minister Khairy Jamaluddin said the Panama Papers does not automatically implicate anyone in crimes, saying that "people set up offshore vehicles for many reasons in the course of doing business".
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