Headline RoundupOctober 4th, 2021

Leaked Pandora Papers Show Tax Havens for Rich and Famous

Summary from the AllSides News Team

A new report by the International Consortium of Investigative Journalists reveals how politicians, leaders and billionaires worldwide have used offshore financial accounts to shield assets worth billions of dollars over the past 25 years.  Dubbed the “Pandora Papers,” the nearly 12 million documents show tax-dodging by 14 firms to hide the fortunes of hundreds of clients such as Jordan’s King Abdullah II, former British Prime Minister Tony Blair, art collector Douglas Latchford and pop singer Shakira.  Russian President Vladimir Putin is not directly named in the records, but the report claims his alleged mistress holds assets worth roughly $100 million. Although having secretive offshore assets is not illegal, criminal monetary proceeds can be concealed using a complex network of secret companies to move around assets and money. 

The report was covered across the spectrum.

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