Know everything you need to know about the Panama and Pandora Papers scandal and the Indian names that are listed in the leak including that of Sachin Tendulkar
Panama Papers are leaked documents which contain attorney client information of 214,488 offshore entities.
Panama Papers Scandal Explained
A total of 11.5 million documents have been leaked which are of 2.6 Terabytes in data. The documents are from a Panamanian offshore law firm which recorded billions worth of illegal transactions and activities mainly for tax evasions.
The firm was owned by Mossack and Ramon Fonseca who were a corporate service provider. Although owning businesses offshore is legal, the company and their services were used for illegal purposes. That included fraud, tax evasion, evading international sanctions and more.
The International Consortium of Investigative Journalists posted the documents on it’s website. Which was after more than a year of analysis. The first pieces were published on 3rd April 2016. Because of being linked to a Panamanian firm the documents were given the name of “The Panama Papers”.
Four years later, on October 2020 an International arrest warrant was issued for the founders of the firm i.e. Jurgen Mossack and Ramon Fonseca.
Who were the names listed in the Panama Papers?
There were many global political leaders and other celebrities that were listed in the documents. All these people were taking the help of the Panamanian Firm. In order to evade tax or some other illegal financial activity.
- Prime Minister of Georgia
- Prime Minister of Iraq
- Children of former prime minister of Pakistan Nawaz Sharif
- Ex-president of Sudan
- Former Emir of Qatar
- Former Argentine president
These are just a few of global politicians. They were operating illegal shell companies with bank accounts in different countries for financial malice.
Were any Indian Names mentioned on the list of the Panama Papers Leak?
There were several Indians as well that were listed in the documents. Many celebrities and business tycoons have been connected. Owning shell companies abroad most of which are illegal and also built purely to evade taxes. Several names from India that have emerged in the list were:
- Amitabh Bachchan
- Ajay Devgan
- CEO Of DLF Kushan Pal Singh
- Anil Ambani
- Nirav Modi
- Sachin Tendulkar
- Nira Radia
- Satish Sharma (Friend of the Gandhi family)
Why was Sachin Tendulkar mentioned on the list of the Pandora Papers Leak?
As per the reports Indian cricketing legends owned an offshore shell company which was established back in 2007. The company was registered out of the British Virgin islands. Which happens to be a hub for illegal shell companies.
When the Panama Papers initially leaked in 2016, Tendulkar asked for the liquidation of the firm just three months after. The firm was liquidated for roughly $9 million. Later, the CEO of the Sachin Tendulkar Foundation claimed that these investments were legal and the taxes have been settled.
The investigations for all the names which were in connection to the Panamanian firm is still underway and further revelations are still awaited.
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