Fidelity bank banner UBA banner
Panama Paper leak: France, Australia, others commence investigation

By News Express on 05/04/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,671


Following a huge leak of confidential documents, investigations into the activities of the world’s rich and powerful has begun by the authorities of some countries, while others are said to be looking into the matter.

According to Reuters, France, Australia, New Zealand, Austria, Sweden and the Netherlands are among nations that have commenced investigations, and some other countries, including the United States, said they were looking into the matter.

A panamanian law firm, Mossack Fonseca documents were on Monday leaked. The documents show how Mossack Fonseca has helped clients launder money, dodge sanctions and avoid tax. The document went ahead to reveal some of the names of the worlds rich and powerful.

Among those named in the documents are friends of Russian President Vladimir Putin and relatives of the leaders of China, Britain, Iceland and Pakistan, and the president of Ukraine.

Leading figures and financial institutions responded to the massive leak of more than 11.5 million documents with denials of any wrongdoing as prosecutors and regulators began a review of the reports from the investigation by the U.S.-based International Consortium of Investigative Journalists (ICIJ) and other media organizations.

According to a Reuters report, the Panamanian based firm said the nearly 40 years old organisation has never been charged with or formally investigated for criminal wrongdoing.

The firm said in a statement: "We do not advise clients on how to operate their businesses. We don't link ourselves in any way to companies we help incorporate".

"Excluding the professional fees we earn, we don't take possession of clients' money, or otherwise have anything to do with any of the direct financial aspects related to operating these businesses."

Mossack Fonseca also said it supports international initiatives requiring greater transparency of newly incorporated companies and trusts and has implemented such measures as part of its own due diligence.

The Hong Kong government said in a statement that its Inland Revenue Department has taken note of the recent release of the documents and will take "necessary actions" based on any information it gets. It will not comment on individual cases or disclose the course of action because of secrecy provisions in Hong Kong tax law, the government said.

Source News Express

Posted 05/04/2016 2:05:46 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Niger Governor charges Police on security and inter-agency...

NLNG train 7 to increase FDI in Nigeria...

New party seeks postponement of 2015 elections

Oriental Online Network demands end to military operation...

Deeper Life Overseer calls for end to herdsmen...

PDP Spokesman Olisa Metuh arraigned in handcuffs for...

NUJ calls for state of emergency on South-East...

Amputated veteran journalist finally gets limb from Kaduna...

Malabu Oil Deal Case: Court grants HEDA judicial...

Lagos Govt empowers rice farmers

How I rebuffed Buhari’s invitation thinking it was...

FG assembles experts to craft new economic agenda...

 

Latest News BREAKING NEWS: 24-hour curfew imposed on Kaduna community 2019: Yoruba youths set agenda for Atiku Tiv group files N550bn suit against Buhari, Miyetti Allah, others Obasanjo/Atiku: Catholic Secretariat clears Fr. Kukah •Accuses Buhari Media Organisation of mischief Obi dismisses allegation of ethnic bias in Onitsha Bridge Head clean-up •Denies comments on first class travel, foreign medical trips Okowa calls for abolition of death penalty, advocates prison reforms 2 die as political thugs clash in Lagos No plot to assassinate Fayose in custody — EFCC NHIS Executive Secretary bags indefinite suspension Atiku, Obasanjo and the road ahead Atiku denies owning online grant scheme Imo APC guber primary: Appeal panel upholds Nwosu’s election

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (407,325 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (382,700 views) Shameless Genevieve Nnaji exposes breasts in public (315,054 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (257,467 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (237,653 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,439 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (204,253 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (185,735 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (170,385 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (165,990 views) Lagos plane crash: Journalist releases victims’ names (161,627 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,402 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (67) Business & Economy (3,687) Business Verdict (52) Columnists (948) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (559) Features (659) Global Business Monitor (304) International (2,541) Interview (165) Live Commentary (28) Love Matters (145) News (39,717) Opinion (1,124) Pidgin (13) Politics (7,282) Religion (881) Sports (1,733) Stock Watch (35) AMA & Al Jazeera Global Update

 

NLNG Prize for Literature 2018

Zenith Zero Balance

CBN banner

Firstmobile banner

 

 

 

NEWS EXPRESS TV

LIBYA vs NIGERIA 2-3 Goals Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement