4th April 2016, 19:42
As the global journalistic community zeros in on the millions of leaked files exposing world leaders and public personalities embroiled in tax evasion, it has emerged that Gibraltar is not included in the list of offshore jurisdictions used by the Panamanian firm Mossack Fonseca. The year long investigation by the International Consortium of Investigative Journalists, reveals that, although territories such as the Bahamas, the British Virgin Islands, Cyprus and Hong Kong feature heavily, Gibraltar escapes any mention whatsoever.
The report by the non-profit organisation follows a huge and painstaking piece of investigative journalism, and a massive leak of 11.5 million documents, spanning forty years of records spanning more than 210 thousand companies across 21 offshore jurisdictions, according to the the International Consortium of Investigative Journalists. It claims to have involved hundreds of journalists and more than a hundred media partners from around the world.
The investigation reveals the hidden financial dealings of hundreds of politicians and public officials around the world, as well as exposing the sale of financial secrecy by banks and law firms to politicians, fradusters, drug and human traffickers, and celebrities around the world.
World leaders such as Vladimir Putin, the Prime Ministers of Iceland and Pakistan, and the King of Saudi Arabia have already been exposed by this report. Among the ‘Power Players’ are also the father of David Cameron, Lord Michael Ashcroft, MP Michael Mates and the sister of the former King of Spain, Pilar de Borbon.
The ICIL lists the 21 tax jurisdictions used by Mossack Fonseca, desrcribed by the Consortium as one of the world’s biggest wholsalers of offshore secrecy. Gibraltar is not among them. Neither does any Gibraltar Bank feature among the banks requesting the most offshore companies for clients.
The full list of documents will be published next month.