The International Consortium of Investigative Journalists(ICIJ) on sunday released The Paradise Papers, a global investigation that revealed the offshore activities of some of the world’s most powerful people and companies.
The papers claimed that Pakistan former prime minister Shaukat Aziz’s name was linked with Antarctic Trust. While ex National Insurance Corporation Limited chairperson Ayaz Khan Niazi’s name was also emerged in the papers.
ICIJ and 95 media partners explored 13.4 million leaked files from a combination of leaked files of offshore law firms and the company registries in some of the world’s most secretive countries.
The files were obtained by the German newspaper Süddeutsche Zeitung, and shared with ICIJ.
The Paradise Papers documents include nearly 7 million loan agreements, financial statements, emails, trust deeds and other paperwork over nearly 50 years from inside Appleby, a prestigious offshore law firm with offices in Bermuda and beyond.
The leaked documents include files from the smaller, family-owned trust company, Asiaciti, and from company registries in 19 secrecy jurisdictions.
The Paradise Papers reveal offshore interests and activities of more than 120 politicians and world leaders, including Queen Elizabeth II whose private estate indirectly invested in a rent-to-own loan company accused of predatory tactics. At least 13 allies, major donors and Cabinet members of U.S. President Donald J. Trump appear, including Commerce Secretary Wilbur Ross’s interests in a shipping company that makes millions from an energy firm whose owners include Russian President Vladimir Putin’s son-in-law and a sanctioned Russian tycoon.
The leaked files from Appleby, the offshore law firm, include details of tax planning by nearly 100 multinational corporations, including Apple, Nike and Uber.