#PanamaPapers: Biggest Leak ever!

6 April 2016

While PM is ready to call snap election over mention, highly unlikely that PM will go that way over

Beyond the : got hot money?
1 China🇨🇳
2 Russia🇷🇺
3 Mexico🇲🇽
4 India🇮🇳
5 Malaysia🇲🇾
Ht

 

 

5 April 2016

ANY MALAYSIAN IMPLICATED?

YES!

What’s the big deal? M’sian minister asks after politicians named in

SHAH ALAM — Mr Mohamed Nazri Aziz dismissed on Tuesday (April 5) the alleged involvement of Malaysians in the Panama Papers, saying the issue should not be blown out of proportion.

The tourism and culture minister said if no law had been broken, there was no need to treat the matter like a big deal.

“Businessmen can put their money there, so why not politicians? Their money, their wish, unless they are breaking the law in doing so,” he told a news conference.

http://www.todayonline.com/world/asia/whats-big-deal-msian-minister-asks-after-politicians-named-panama-papers

Nazifuddin_Story

Mohd Nazifuddin bin Mohd Najib is a son of Malaysia’s Prime Minister Najib Abdul Razak.

Inside the Mossack Fonseca data Two offshore companies created while his father was in power.

https://projects.icij.org/panama-papers/power-players/index.html#73

MohdNazifuddinbinMohd from has been outed in the . Wonder who’s his father!?!?

Kali ini..ANAK NAJIB pula, Mohd Nazifuddin bin Mohd Najib turut sekali diprofilkan.. Lebih lanjut..

BREAKING NEWS !!!.. PANAS !!!

The Panama Papers: Pendedahan paling terbesar dalam sejarah mengenai rasuah orang ternama, pemimpin & penyamun taraf dunia.

Kali ini..ANAK NAJIB pula, Mohd Nazifuddin bin Mohd Najib turut sekali diprofilkan..

‪#‎sebarkan‬ ‪#‎viral‬ sebanyak mungkin agar rakyat tahu kebobrokan Najib anak-beranak terpalit dalam skandal rasuah..

http://www.bbc.com/news/world-35918844

‪#‎PanamaPapers

Suara Rakyat's photo.
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Panama Papers: Pendedahan data rasuah global. Turut diprofilkan: Mohd Nazifuddin bin Mohd Najib

 

Panama Papers The Power Players Mohd Nazifuddin bin Mohd Najib

 

Nazifuddin_Story.png

https://projects.icij.org/panama-papers/power-players/index.html

| Want to hide your cash? This game tells you how

theGuardian

What are the Panama Papers? A guide to the biggest data leak in history

The Panama Papers are an unprecedented leak of 11.5m files from the database of the world’s fourth biggest offshore law firm, Mossack Fonseca. The records were obtained from an anonymous source by the German newspaper Süddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ). The ICIJ then shared them with a large network of international partners, including the Guardian and the BBC.

What do they reveal?

The documents show the myriad ways in which the rich can exploit secretive offshore tax regimes. Twelve national leaders are among 143 politicians, their families and close associates from around the world known to have been using offshore tax havens.

A $2bn trail leads all the way to Vladimir Putin. The Russian president’s best friend – a cellist called Sergei Roldugin – is at the centre of a scheme in which money from Russian state banks is hidden offshore. Some of it ends up in a ski resort where in 2013 Putin’s daughter Katerina got married.

Among national leaders with offshore wealth are Nawaz Sharif, Pakistan’s prime minister; Ayad Allawi, ex-interim prime minister and former vice-president of Iraq; Petro Poroshenko, president of Ukraine; Alaa Mubarak, son of Egypt’s former president; and the prime minister of Iceland, Sigmundur Davíð Gunnla

A lengthier overview of the revelations can be found here.

What is Mossack Fonseca?

It is a Panama-based law firm whose services include incorporating companies in offshore jurisdictions such as the British Virgin Islands. It administers offshore firms for a yearly fee. Other services include wealth management.

Where is it based?

The firm is Panamanian but runs a worldwide operation. Its website boasts of a global network with 600 people working in 42 countries. It has franchises around the world, where separately owned affiliates sign up new customers and have exclusive rights to use its brand. Mossack Fonseca operates in tax havens including Switzerland, Cyprus and the British Virgin Islands, and in the British crown dependencies Guernsey, Jersey and the Isle of Man.

For more:

http://www.theguardian.com/news/2016/apr/03/what-you-need-to-know-about-the-panama-papers?CMP=share_btn_tw

Mohd Nazifuddin bin Mohd Najib is a son of Malaysia’s Prime Minister Najib Abdul Razak. He has invested in a vast range of Malaysian businesses in such sectors as technology, energy, finance, mass transit and paints and coatings. In 2015, Nazifuddin became vice president of the Olympic Council of Malaysia. The same year, he denied allegations that he had been involved in a Ponzi scheme relating to a digital currency in Thailand. Nazifuddin has publicly defended his father, who in January 2016 was cleared of wrongdoing in relation to the transfer of nearly $700 million into Razak’s personal accounts.

Inside the Mossack Fonseca data Two offshore companies created while his father was in power.

In 2009 Nazifuddin became one of the two directors of Jay Marriot International Ltd., which Mossack Fonseca registered in the British Virgin Islands. The other director was Ch’ng Soon Sen, then executive director of Malaysia Pacific Corp., a major property developer, and now its CEO. In 2012, together with Megat Daniff Shahriman bin Zaharudin, a business developer, Nazifuddin became a director of PCJ International Venture Limited, also registered by Mossack Fonseca in the BVI. Megat is the financial adviser of a nongovernmental organization headed by Nazifuddin, Youth on Unity, that aims to help Malaysia’s underprivileged children. PCJ International Venture Limited was inactivated in 2013 .

Response

Nazifuddin said that he used PCJ International Venture Limited “for international business” but that there were “no business transactions,” and the company was shut down. Ch’ng confirmed that he and Nazifuddin acquired Jay Marriot in 2009 but said there had been no business activity “since formation.” He said that in 2011 Nazifuddin transferred his share to Ch’ng’s sister and resigned as director.

https://projects.icij.org/panama-papers/power-players/index.html#73

Reporter follows the money trail of the world’s richest 1% tonight on

., Aishwarya named in list of firms in tax havens

Malay Mail Online

Amitabh Bachchan, Jackie Chan in spotlight after Panama Papers leak

 

HONG KONG, April 4 — Bollywood’s Amitabh Bachchan and martial arts movie star Jackie Chan are among celebrities who feature today in a massive leak of documents, some of which reveal hidden offshore assets.

Bollywood legend Bachchan, simply known as the “Big B” in India, was appointed director of at least four shipping companies registered in offshore tax havens and set up 23 years ago.

The authorised capital of these companies ranged from just US$5,000 (RM20,000) to US$50,000 but they traded in ships worth millions of dollars, according to the Indian Express newspaper.

Bachchan, who has long since resigned from the companies and has not commented on the documents, is not the only member of his famous family named in the leaks.

His daughter-in-law, actress Aishwarya Rai Bachchan, was also director and shareholder of an offshore company, along with members of her family, before it was thought to have been wound up in 2008, according to the newspaper.

The media adviser of the former Miss World winner has rejected the documents as “totally untrue and false”.

Hong Kong film star Jackie Chan has also been revealed to have at least six companies represented by Fonseca’s firm, though he too may have used the companies legitimately for business purposes rather than for tax avoidance.

Stars in leak: Big B, Jackie Chan, Aishwarya Rai

: One of the offshore firms may have supplied fuel for Syrian government jets.

: Elected leaders & top officials respond to claims they hid billions offshore

Elected leaders and top officials from around the world are responding with denials and outrage to allegations that they used secret offshore companies and accounts to hide billions of dollars.

The media reports, based on a massive leak of documents, allege the existence of a clandestine network involving associates of Russian President Vladimir Putin, and business ties between a member of FIFA’s ethics committee and men indicted for corruption.

The Kremlin has dismissed the allegations as “a series of fibs,” while the FIFA official has described them as “ridiculous” and “outrageous.” But some governments are acting on the information — the U.K., France, Australia and Mexico have pledged to investigate for possible cases of tax evasion.

Several news organizations published reports Sunday drawing on more than 11 million documents leaked from a law firm in Panama that allegedly helped set up secret shell companies and offshore accounts.

The documents go back decades and reference 12 current or former world leaders, as well as 128 other politicians and public officials, according to the International Consortium of Investigative Journalists, which carried out the yearlong investigation in cooperation with more than 100 different news organizations.

They also suggest that the law firm in Panama, Mossack Fonseca, did not have adequate controls in place. According to the ICIJ, a 2015 internal audit found that the firm knew the identities of the real owners of just 204 of 14,086 companies it had incorporated in Seychelles, an Indian Ocean archipelago often described as a tax haven.

Ramon Fonseca Mora, a co-founder of Mossack Fonseca, told CNN late Sunday that the information published about the firm was false and full of inaccuracies.

The files describe about 100 complex deals involving a network of Putin allies, including one where the rights to a $200 million loan were sold for just $1, according to the ICIJ. Putin isn’t mentioned by name in any of the documents, the ICIJ notes.

Kremlin spokesman Dmitry Peskov anticipated the reports last week at a news conference, saying a media “attack” was expected in the coming days, according to state media. He called the accusations “another series of fibs.”

The Kremlin hasn’t commented since.

ICELAND

The reports accuse the prime minister of Iceland, Sigmundur David Gunnlaugsson, of having ties, through his wife, to an offshore company that were not properly disclosed.

When asked about the company during an interview with a Swedish TV channel, Gunnlaugsson ended the conversation and said the journalists had asked an inappropriate question.

http://money.cnn.com/2016/04/04/news/panama-papers-offshore-accounts-investigation/index.html?sr=twCNN040416panama-papers-offshore-accounts-investigation0949AMStoryLink&linkId=23024312

 

 

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1 Response to #PanamaPapers: Biggest Leak ever!

  1. Pingback: Implicated in #PanamaPapers: Amitabh Bachchan, Aishwarya Rai Bachchan and Jachie Chan | weehingthong

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