Paradise Paper Leak: 714 Indians named in BIG disclosure

National | Nov. 6, 2017, 9:54 a.m.

New Delhi, Nov 6: After more than a year after the Panama Papers leak, a new release by the United States-based International Consortium of Investigative Journalists, consisting data from two offshore law firms -- Appleby in Bermuda and Asiaciti in Singapore -- includes names of at least 714 Indians, with an Indian firm figuring as Appleby's second-largest client globally. 

The findings have emerged as part of the Paradise Papers released by the US-based International Consortium of Investigative Journalists (ICIJ), which was behind the Panama Papers made public last year.

This has been revealed in a report published by Indian Express which says that among the 180 countries represented in the data, called Paradise Papers, India ranks 19th in terms of the number of names.

The files were first obtained by the German newspaper Suddeutsche Zeitung, and shared with the ICIJ and partner media outlets.

The IE report said that Appleby, a 119-year-old company, 'is a leading member of the global network of lawyers, accountants, bankers and other operatives who set up offshore companies and manage bank accounts for clients to do one or a combination of the following: avoid or evade taxes; manage real estate assets; open escrow accounts; purchase airplanes and yachts paying low tax rates; or, simply, use offshore vehicles to move millions across the globe'.


US Commerce Secretary Wilbur Ross has business ties to a shipping firm linked to Vladimir Putin’s inner circle, according to a vast leak of financial documents that also revealed Britain’s Queen Elizabeth II’s investments in tax havens.

It was also revealed that Canadian Prime Minister Justin Trudeau’s top fundraiser and senior advisor Stephen Bronfman, heir to the Seagram fortune, moved some USD 60 million to offshore tax havens with ex-senator Leo Kolber.

News24Bureau with other reports

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