Panama Leaks - Panama Papers

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What are Panama leaks?, and the name of Pakistani politicians in Panama case and Businessman include in Panama papers leak list?
Panama Leaks - Panama Papers

Panama city is the largest and modern city in the country of Panama. It is famous in the world because of the Pacific Ocean and Man-made Panama Canal. But in Pakistan, the reason for its fame is totally different. Even every kid in Pakistan is familiar with the name of Panama leak.The Old City is an atmospheric labyrinth of churches, plazas, and palaces. Fifteen miles from downtown Panama City, Soberania National Park is an excellent destination for hiking and birding. For a fascinating look at the canal, take a taxi or local bus to Miraflores Locks Visitor Center and look down on the traffic below.Panama Leaks of panama city

What is Panama Paper?

The Panama Papers are an unprecedented leak of 11.5m files from the database of the world’s fourth-biggest offshore law firm, Mossack Fonseca. The records were obtained from an anonymous source by the German newspaper Süddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ). The ICIJ then shared them with a large network of international partners, including the Guardian and the BBC.The documents show the myriad ways in which the rich can exploit secretive offshore tax regimes. Twelve national leaders are among 143 politicians, their families and close associates from around the world known to have been using offshore tax havens.

Among national leaders with offshore wealth are Nawaz Sharif, Pakistan’s prime minister; Ayad Allawi, ex-interim prime minister and former vice-president of Iraq; Petro Poroshenko, president of Ukraine Alaa Mubarak, son of Egypt’s former president; and the prime minister of Iceland, Sigmundur Davíð Gunnlaugsson. An offshore investment fund run by the father of British prime minister David Cameron avoided ever having to pay tax in Britain by hiring a small army of Bahamas residents to sign its paperwork. The fund has been registered with HM Revenue and Customs since its inception and has filed detailed tax returns every year.Mr. Sharif’s name never appears in the Panama Papers, but three of his six children Maryam Nawaz Sharif, Hasan Nawaz Sharif and Hussain Nawaz Sharif – were determined to have purchased luxury properties in London using offshore holdings. His children have maintained that the companies were set up with legally obtained money, but critics claim otherwise.Panama Leaks- panama papers

Panama Papers Leaks and Pakistani Politicians

Panama papers define corruption in a large amount, it revealed world's most corrupted people through the newspaper. The most important incident regarding Panama Papers took place in 2017 when Nawaz Sharif was disqualified as the prime minister of Pakistan in July. Nawaz Sharif’s three children’s names had appeared in Panama leaks, claiming that they were proprietors of the firms or they were their beneficial owners. Nawaz Sharif’s daughter, who’s widely believed to be the successor of her father politically, was also mentioned in the leaks as the owner of the firms based in the British Virgin Islands.An anti-corruption court has indicted former Pakistan Prime Minister Nawaz Sharif, his daughter, and son-in-law, in the latest development set off by disclosures in the Panama Papers.

The Panama Papers leaks the family used offshore companies to buy expensive London properties. Sharif resigned in July after Pakistan’s Supreme Court ruled he was disqualified to hold the country’s highest office for having assets “disproportionate to his known means of income". Sharif did not attend the Oct 18 hearing. He was in London, where his wife is undergoing surgery, and sent a plea of not guilty. His daughter Maryam Sharif and his son-in-law Mohammad Safdar pleaded not guilty at the hearing.The ICIJ report admitted that no other country in the world was shaken politically to such an extent by the Panama Papers disclosures except for Pakistan. According to Voice of America, when the Panama Papers disclosed the names of companies and persons for the first time in 2016 for owning offshore companies, hundreds of Pakistanis were included in the lists.The most important among them were three children of Nawaz Sharif. The Supreme Court of Pakistan disqualified Nawaz from holding any public office and ordered for the filing of corruption references against him and his three children in the accountability courts.Pakistani Politicians in Panama Leaks

Panama Papers Leak and Panama Case

A number of important Pakistanis have been indicted in the International Consortium of Investigative Journalists (ICIJ)   investigation into offshore companies.In total, the journalists received 11.5 million documents in a leak from Panama-based law firm Mossack & Fonseca. A huge number of Pakistanis feature on those lists, and we bring you a round-up of the most prominent names.So far 220 Pakistanis are featured in the list, although the ICIJ says that it will be revealing more files in May. It's not like that Sharif Family is the only Family whom corruption had been caught by the ICIJ (International Consortium of Investigative Journalists). A number of important Pakistanis have been indicted in the ICIJ   investigation into offshore companies. A huge number of Pakistanis feature on those lists, and ill bring you a round-up of the most prominent names.So far 220 Pakistanis are featured on the list.Prime Minister Nawaz Sharif is linked to 9 companies connected to his family name. Those involved are Hassan Nawaz, Hussain Nawaz, and Maryam Nawaz.

Relatives of Punjab Chief Minister are linked to 7 companies. They are Samina Durrani and Ilyas Mehraj.Now deceased former prime minister Benazir Bhutto was linked to one company. However relatives and associates are linked to others:Nephew Hassan Ali Jeffery, Javed Pasha, Close friend of Asif Ali Zardari (4 companies), PPP Senator Rehman Malik (1 company), PPP Senator Osman Saifullah’s family (34 companies) Anwar Saifullah, Salim Saifullah, Humayun Saifullah, Iqbal Saifullah, Javed Saifullah and Jehangir Saifullah.The Chaudharies of Gujrat have not been linked personally but other relatives have including Waseem Gulzar and Zain Sukhera (co-accused with former Prime Minister Yusuf Raza Gilani’s son in the Hajj scandal).What is Panama

Panama Leaks Pakistan List

  • Real Estate Czar Malik Riaz Hussain’s son (Bahria Town)Ahmad Ali Riaz (1 company)
  • Hassan Nawaz, Hussain Nawaz and Maryam Nawaz
  • Samina Durrani and Ilyas Mehraj
  • Nephew Hassan Ali Jaffery, Javed Pasha, Close friend of Asif Ali Zardari (4 companies)
  • PPP Senator Rehman Malik (1 company)
  • Waseem Gulzar and Zain Sukhera
  • PPP Senator Osman Saifullah’s family (34 companies)
  • Chairman ABM Group of Companies Azam Sultan (5 companies)
  • Pizza Hut owner Aqeel Hussain and family (1 company)Brother Tanwir Hassan
  • Chairman Soorty Enterprise Abdul Rashid Soorty and family
  • Sultan Ali Allana, Chairman of Habib Bank Limited (1 company)
  • Khawaja Iqbal Hassan, former NIB bank President (1 company)
  • Bashir Ahmed and Javed Shakoor of Buxly Paints (1 company)
  • Mehmood Ahmed of Berger Paints (1 company)
  • Hotel tycoon Sadruddin Hashwani and family (3 companies)Murtaza Haswani
  • Owner of Hilton Pharma, Shehbaz Yasin Malik and family (1 company)
  • The Hussain Dawood family (2 companies)Shahzada Dawood
  • Abdul Samad Dawood
  • Partner Saad Raja
  • The Abdullah family of Sapphire Textiles (5 companies)Yousuf Abdullah and his wife
  • Muhammad Abdullah and his wife
  • Shahid Abdullah and his family
  • Nadeem Abdullah and family
  • Amer Abdullah and family
  • Gul Muhammad Tabba of Lucky Textiles
  • Shahid Nazir, CEO of Masood Textile Mills (1 company)Partner Naziya Nazir
  • Zulfiqar Ali Lakhani, from Lakson Group and owner of Colgate-Palmolive, Tetley Clover and Clover Pakistan (1 company)
  • Zulfiqar Paracha and family of Universal Corporation (1 company)
  • Serving Lahore High Court Judge Justice Farrukh Irfan
  • Retired Judge Malik Qayyum
  • Pakistani Media personnel in Panama Leaks
  • Mir Shakil-ur-Rehman of GEO and Jang Group (1 company)
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