A massive leak exposed the foreign business of 35 world leaders

Leaked offshore financial records dubbed “Pandora’s Papers” were released by major news outlets this weekend, revealing the assets and secret deals of some of the world’s richest and most powerful leaders.

The leak contained nearly 12 million files from companies leased to create offshore accounts in Panama, Dubai, Monaco, Switzerland and the Cayman Islands. The guard said.

The Guardian reported that the people named in the newspapers include 35 world leaders, 300 other government officials, and more than 100 billionaires. These include current and former presidents, prime ministers, judges, mayors, military generals, and others.

The data was originally submitted to the International Consortium of Investigative Journalists (ICIJ) in Washington, DC

The ICIJ then distributed the information to organizations such as The Guardian, BBC Panorama, Le Monde and The Washington Post. Since then, more than 600 journalists have investigated newspaper content in the largest-ever data leak of financial data, the Guardian said.

The newspapers offer what the Guardian calls a “rare window into the secrecy” of offshore financial operations that allow some of the world’s richest people to evade taxes.

While not all of the people mentioned in the newspapers have been accused of wrongdoing, some of what the newspaper revealed could have serious repercussions for the upcoming elections.

Czech Prime Minister Andrej Babis, who will run for re-election next week, declined to comment on why he reached out to an offshore investment firm to buy a $22 million mansion in southern France, The Guardian reports.

Other people named in the papers include Jordan’s King Abdullah II, who reportedly owns $100 million in property worldwide and claims to have committed no wrongdoing using that property via an offshore company that acquired it, the Guardian said.

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Meanwhile, Ukrainian President Volodymyr Selinsky is said to have transferred a 25 percent stake in an offshore company to his friend, who has become a senior advisor, newspapers showed. The Guardian noted that the transfer came during a promising campaign to correct the corrupt nature of his country’s economy.

While offshore stocks are not illegal and can even be used for legitimate security purposes, their secretive nature has sometimes been used to facilitate criminal activity and money laundering.

Papers can be embarrassing President BidenJoe Biden, GOP Senator: ‘Left Democrats run the bus, Joe Biden is on the road’ The political study should shock Democrats. more compatibleThat promised transparency in international finances even though newspapers portrayed the US as a “primary tax haven,” the Guardian reported.

The Guardian and other media are planning to publish more information in newspapers in the coming days.

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