11 million documents were leaked from the law firm and corporate service provider based in Panama, Mossack Fonseca & Co. The Documents revealed the financial wheeling and dealings of some of the world’s most powerful political personalities. These leaked documents are available on the website of the International Consortium of Investigative Journalists (ICIJ).
Many political figures’ names are in the documents like Russia’s Vladimir Putin, King of Saudi Arabia, Iceland’s Prime Minister and the family of Prime Minister Nawaz Sharif, among dozens of others.
Nawaz Sharif brings international shame to Pakistan. #PanamaPapers
— Kashif Mahmood (@kashifviews) April 3, 2016
The Documents also reveals the offshore holdings of the members of PM Sharif’s family. PM children’s Mariam, Hasan and Hussain are mentioned as the owners of the several companies and had the right to authorize transactions in the document.
Shahbaz Sharif’s relative Ilyas Mehraj, has been mentioned as a major shareholder #KaalaPaisaKaalayKartoot #PanamaPapers
— Raveem Choudhry (@ExplorePakistan) April 4, 2016
According to the one document released by ICIJ, Prime minister’s daughter Mariam Nawaz is owner of British Virgin Islands-based firms Nielsen Enterprises Limited and Nescoll Limited, incorporated in 1994 and 1993. The address listed for Nielsen Enterprises is Saroor Palace in Jeddah, Saudi Arabia.
Son of PM Nawaz Sharif Hasan Nawaz is described as the director of Hangon Property Holdings Limited incorporated in the British Virgin Islands in February 2007, which acquired Liberia-based firm Cascon Holdings Establishment Limited for about $11.2 million in August 2007.
Sharif family brings shame to Pakistan. This time, it's big. Even bigger for the voters who choose the corrupts. #PanamaPapers
— Ahmad Jamal (@AhmadJamalCh) April 3, 2016
According to the leaked document, on June 2007 Hussain and Mariam Nawaz signed a document that was part of a series of transactions in which Deutsche Bank Geneva lent up to $13.8 million to Nescoll, Nielsen and another company, with their London properties as collateral.
Other Pakistani Politicians and Businessmen Named in Panama Papers:
- Prime Minister Nawaz Sharif’s family
- Punjab Chief Minister Shahbaz Sharif’s relatives
- Benazir Bhutto
- Javed Pasha
- Senator Rehman Malik
- Senator Osman Saifullah’s family
- Waseem Gulzar (a relative of the Chaudhrys of Gujrat)
- Zain Sukhera, who was co-accused with former Prime Minister Yusuf Raza Gilani’s son in the Haj scandal
- Hotel tycoon Sadruddin Hashwani
- Real estate czar Malik Riaz Hussain’s son
- Hussain Dawood family
- Abdullah family of Sapphire Textiles
- Gul Muhammad Tabba of Lucky Textiles
- Shahid Nazir of Masood Textiles
- Zulfiqar Ali Lakhani
- Zulfiqar Paracha.
- Justice Farrukh Irfan
- Retired judge Malik Qayyum
- Owner of Hilton Pharma, Shehbaz Yasin Malik
- Chairman ABM Group of Companies Azam Sultan
- Pizza Hut owner Aqeel Hussain
- Chairman Soorty Enterprise Abdul Rashid Soorty
So the Sharif's & Bhutto's were saving Dollars & Not Democracy? #PanamaPapers
— Anjum Kiani (@AnjumKiani) April 4, 2016
The documents show links to 72 current or former heads of state in the data, including the Icelandic Prime Minister, Sigmundur Gunnlaugson and also reveal a suspected billion-dollar money laundering ring involving close associates of President Putin.