A massive global investigation has uncovered the ties between world leaders with the secret universe of offshore wealth collection worth trillions of dollars. Named the Pandora Papers, an investigation directed by the International Consortium of Investigative Journalists (ICIJ). It comprises a group of 600 columnists from 150 media outlets in 117 nations.
The secret document purportedly show high level officials, oligarchs and extremely rich people moving abundance of wealth offshore. While covering their personalities, purchasing land and luxury goods – all with the assistance of corporate specialist co-ops. More than 300 politicians from 90 nations, including 35 previous or current government office bearers, are reported to have dodged investigation and protected themselves with anonymity.
Pandora papers reveal hidden riches of Putin
Russian President Vladimir Putin’s long-term mistress, Svetlana Krivonogikh, has an expected total assets of $100 million in shadow wealth, including stylish condos and a yacht.
As per reports, In September 2003, an offshore organization called Brockville Development Limited — through two other Panamanian organizations — got her an extravagance fourth-floor apartment in Monte Carlo. She also acquired a flat in St. Petersburg including other significant assets.
Regardless of the exact nature of their relationship, they appear to have been close. The public evidence suggests they traveled together on similar planes. After three years, in March 2003, Krivonogikh gave birth to a girl, Luiza. Proekt has claimed that Putin is Luiza’s dad
Russia dismisses Pandora Papers
Russia dismissed revelations leaked in the Pandora Papers as unsubstantiated claims. Kremlin spokesman Dmitry Peskov said; “This is just a set of largely unsubstantiated claims.”
The ICIJ said that Russian nationals were disproportionately represented in the Pandora Papers. Comprising 14% of more than 27,000 investigated companies having Russian beneficiaries and 46 Russian oligarchs found to use offshore companies. Among them are the group of Sergei Chemezov, President of Russia’s Defense conglomerate Rostec and Putin’s oldest companion; German Gref, the CEO of Russia’s state-controlled lender Sberbank.
Putin image-maker’s role in massive state-funded privatization deal
The Pandora leak also uncovered that the top of a state-run television network, Konstantin Ernst — who supervised the opening and closing ceremonies of the 2014 Winter Olympics — received a stake in a billion-dollar Moscow property bargain.
Ernst – Putin’s main image maker, confronted a challenge; to deliver exceptional opening and closing ceremonies to dazzle the world. In order to help better the image of Russia’s besieged president.
The International Consortium of Investigative Journalists has tracked down that on the day of the opening ceremony, an organization was incorporated in the English Virgin Islands that would pave the way for Ernst’s mystery 23% stake in a state-financed privatization bargain worth a billion dollars.
The U.S. is the Offshore Haven: Russia
The Kremlin said that the Pandora Papers monetary leaks exposed the US as the world’s biggest offshore safe house.
It named the US as “one of the greatest player in the offshore world” with more than twelve states becoming “leaders in the business of financial mystery” in the previous decade.
Almost 2,000,000 of the 11.9 million spilled records came from Panamanian law offices, which the ICJ said had turned into “a magnet for the rich and incredible from Latin America and beyond trying to conceal wealth offshore.
Altogether, the ICIJ discovered connections between 1,000 organizations in offshore havens and 336 high level lawmakers and public officials, including more than a dozen serving heads of state and government, country leaders, ministers, diplomats and others.