Paradise Papers revelations around the world


A fresh dump of millions of confidential documents shedding light on the financial hideaways of iconic brands and figures has been revealed with the Paradise Papers.

People or organisations linked to the Queen, the Canadian prime minister and the US president have already been named in the papers. So what else has been disclosed?

Just one Turkish newspaper reports PM allegations

image copyrightAFP
image captionTurkish Prime Minister Binali Yildirim's family members, including his two sons, are alleged to have off-shore investments in Malta

Turkish Prime Minister Binali Yildirim's family members, including his two sons, are alleged to have offshore investments in Malta, Turkish opposition Cumhuriyet newspaper reported on Monday.

Cumhuriyet is the only publication in Turkey to have collaborated with the International Consortium of Investigative Journalists (ICIJ) in the investigation of the leaked papers.

"Among the documents of offshore businesses with some questionable activities, there are also companies that are owned by the PM's family," the newspaper reported.

Mr Yildirim's sons, nephews and uncle own eight companies in Malta "where doors are open to those who would like to avoid taxes in their own countries", it said.

Lawyers for Mr Yildirim's family later described the allegations of improper transactions as "totally unrealistic". They said the prime minister had not been involved in commercial activities since entering politics. Mr Yildirim said the companies' activities were "open and clear".

India announces multi-agency probe into Paradise Papers

India's Central Board of Direct Taxation (CBDT) has announced a multi-agency probe into the Paradise Papers.

The names of around 700 Indians appear in the list, including actor Amitabh Bachchan, Minister of State for Civil Aviation Jayant Sinha, and some lawmakers.

While government officers said the presence of an entity in the files did not point to any wrongdoing, the CBDT has asked investigators to check the names against tax returns.

Cashing in on the myth of a rock star

image copyrightGetty Images
image captionWhat happened to Michael Hutchence's reputed millions remains a mystery

The papers show a deal to cash in on Australian rock star and lead singer of INXS, Michael Hutchence, who killed himself in 1997.

According to ABC, the singer's former lawyer, Colin Diamond, legally set up a company in the tax haven of Mauritius in 2015 with the aim of "commercial exploitation of the sound recordings, images, films and related materials embodying the performance of Michael Hutchence".

The singer's death sparked a bitter and drawn out legal row over his estate between his family and Mr Diamond. The family was eventually told there was nothing left in Hutchence's estate.

Argentina party wants minister to quit over leak

Argentina's opposition Unidad Ciudadana party led by senator and former president, Cristina Fernandez de Kirchner, demanded that Finance Minister Luis Caputo resign after his name appeared in the Paradise Papers, suggesting that before holding office, he had been involved with offshore companies, Argentine daily Clarin reported on its website on Monday.

"Luis Caputo dedicated himself to managing offshore partnerships and investment funds in fiscal paradises, and did not inform about that activity in his sworn declaration upon entering public service," Unidad Ciudadana said in a statement quoted by Clarin.

The government has denied any wrongdoing by Mr Caputo. The ministry of finance said Mr Caputo had worked as financial adviser to investment funds, but that before taking up public functions, he withdrew from those companies, Clarin reported.

Bolivia's elite implicated

The use of offshore accounts by Bolivian businessmen and political elite increased after Bolivian President Evo Morales was elected in 2005, according to the ICIJ. The papers show there to be 127 offshore Bolivian-related companies in tax havens of Panama and the British Virgin Islands. Three of these were connected to the purchase of shares involving one of the country's largest electricity companies.

Former Pakistani PM did not disclose trust fund

Former Pakistani PM Shaukat Aziz, who served from 2004 to 2007, was also named in the Paradise Papers. He is mentioned with regard to a family trust he set up before taking office in 1999, but did not disclose when he was prime minister or finance minister. According to the ICIJ, Mr Aziz's lawyer says he did not legally have to declare the trust to the authorities.

Japan ranks 18th on the list

More than 1,000 names of Japanese individuals were named in the papers, putting Japan in 18th place according to the Asahi Shimbun newspaper. Among these are Yukio Hatoyama, a former prime minister, who became honorary chairman of a Hong Kong energy firm incorporated in Bermuda, a corporate tax haven, the Japan Times reports. Mr Hatoyama has denied any involvement in the company, the paper adds.

The papers are a huge batch of leaked documents mostly from offshore law firm Appleby, along with corporate registries in 19 tax jurisdictions, which reveal the financial dealings of politicians, celebrities, corporate giants and business leaders.

The 13.4 million records were passed to German newspaper Sueddeutsche Zeitung and then shared with the International Consortium of Investigative Journalists (ICIJ). Panorama has led research for the BBC as part of a global investigation involving nearly 100 other media organisations, including the Guardian, in 67 countries. The BBC does not know the identity of the source.

Paradise Papers: Full coverage; follow reaction on Twitter using #ParadisePapers; in the BBC News app, follow the tag "Paradise Papers"

Watch Panorama on the BBC iPlayer (UK viewers only)

Update November 10 2017: This report has been updated to include a response that was subsequently received on behalf of Turkish Prime Minister Binali Yildirim.

More on this story