Key revelations from the Pandora Papers

THE STRAITS TIMES:

An investigation based on one of the biggest ever leaks of financial documents on Sunday (Oct 3) exposed a hidden world of shielded wealth belonging to hundreds of politicians and billionaires.

One of the largest ever global media investigations, the Pandora Papers involved more than 600 journalists who together analysed some 11.9 million documents from financial services companies around the world.

They found links between almost 1,000 companies in offshore havens and 336 high-level politicians and public officials, including more than a dozen serving heads of state and government.

The documents behind the latest investigation are drawn from financial services companies in countries including the British Virgin Islands, Panama, Belize, Cyprus, the United Arab Emirates, Singapore and Switzerland.

Here are some key revelations:

King of Jordan’s property empire

The files show King Abdullah II, who has faced angry protests against austerity measures in recent years, created a network of offshore companies and tax havens to amass a US$100 million (S$136 million) property empire between 2003 and 2017, including 15 homes from Malibu, California to Washington and London.

Read More at the Straits Times

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