Sunday, December 4, 2016
Tuesday, April 5, 2016
Relatives/associates of country leaders
Relatives/associates of politicians/public officials
The Panama Papers released by the International Consortium of Investigative Journalists (ICIJ) on April 3 set out previously unknown details of the financial dealings of more than 140 politicians from more than 50 countries. Among them are former prime ministers of Iraq, Jordan and Qatar, a former emir of Qatar and the current Saudi king.
Here are some of the key findings released to date, in alphabetical order based on country, along with the responses given to the ICIJ. Mossack Fonseca has itself issued a response to the data publicised by the ICIJ.
Algeria – Abdeslam Bouchouareb, minister of industry and mines
|British's PM Cameron and Black money account|
Morocco – Mounir Majidi, personal secretary to King Mohammed VI
Majidi has been the personal secretary to King Mohammed VI since 2000. In January 2006 a British Virgin Islands (BVI) company, SMCD Limited, authorized the purchase of a schooner Aquarius W and put Majidi in charge of the transaction. After the purchase, the vessel was registered in Morocco and renamed El Boughaz I. The schooner is now owned by the king. In March 2006, Mounir Majidi received power of attorney privileges for SMCD. The company was liquidated in 2013. Majidi was also administrator of a Luxembourg company, Immobiliere Orion, which borrowed $42 million in 2003 from a Mossack Fonseca-incorporated company to buy and renovate a Paris apartment.Qatar –Sheikh Hamad bin Khalifa al Thani, former emir
Sheikh Hamad bin Khalifa was the emir of Qatar from 1995 to 2013, when he handed power to his son, Sheikh Tamim bin Hamad al Thani. In March 2014, a Luxembourg lawyer contacted Mossack Fonseca to convey Sheikh Hamad bin Khalifa’s interest in buying an off-the-shelf company registered in the British Virgin Islands. The company, Afrodille, would hold a bank account in Luxembourg and shares in two South African companies, according to the lawyer.
Qatar –Sheikh Hamad bin Jassim Al Thani, former prime minister
In 2002 , Sheikh Hamad bin Jassim (often known in Qatar as HBJ) acquired a company in the British Virgin Islands and three additional companies in the Bahamas. Through these companies, he held shares and mooring spaces in the Spanish port of Palma, and managed his yacht, the $300 million Al Mirqab. HBJ took over management of these companies in 2004, dissolving them a few years later. In 2011, HBJ acquired four Panamanian companies to hold bank accounts in Luxembourg, two of which he owned with the then-emir, Sheikh Hamad bin KhalifaSaudi Arabia – King Salman bin Abdulaziz Al Saud
King Salman held an unspecific role in Luxembourg company Safason Corporation which was the shareholder of Verse Development Corporation, incorporated in the British Virgin Islands (BVI) in 1999, and Inrow Corporation, incorporated in 2002. Inrow took out a mortgage in 2009 worth up to $26 million and Verse took out a second mortgage for more than $8 million, in both cases for homes in London. King Salman was also described as “the principal user” of a motor yacht, Erga, named after the King’s palace in Riyadh, and registered in London by another BVI company, Crassus Limited, incorporated in 2004.
Saudi Arabia – Crown Prince Mohammad bin Naif bin Abdulaziz Al Saud
Swiss bank UBS has used offshore companies to open bank accounts for Mohammad bin Naif (MBN). On October 1, 2007, the Paris branch of UBS bought Panamanian companies Alyneth Limited and Havelock Capital Corporation from Mossack Fonseca. Two days later, MBN was granted a power of attorney for both companies and their bank accounts at UBS. In March 2014, MBN closed Havelock’s bank account and the company was inactivated in April 2014.Sudan – Ahmad Ali al Mirghani, former president
Ahmad Ali al-Mirghani was the democratically-elected president of Sudan from May 1986 until he was overthrown by a coup in June 1989. He died in November 2008. Al Mirghani was the owner of a British Virgin Islands (BVI) company, Orange Star Corporation, created in 1995. That year, the company bought a long lease of a London apartment for more than $600,000. At the time of his death, he held assets through the company worth $2.7 million.
Syria – Hafez and Rami Makhlouf, cousins of President Bashar al Assad