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Pandora Papers expose dealings of world’s super-wealthy 

Leaked confidential files linked more than 330 politicians to hidden fortunes worth billions of dollars

Secret dealings by some of the world’s most powerful people were revealed on Monday via a giant leak of offshore data.

The documents known as the Pandora papers include 11.9m files from organisations hired by high net-worth clients to build offshore structures and trusts in tax havens across the world.

Included in the revelations were 35 world leaders, including current and former heads of state.

Leaked files from 14 offshore service providers tie more than 330 public officials, including 35 world leaders, to offshore fortunes.

Also implicated were hundreds of public officials, such as ministers, judges and military generals from over 90 countries. Over 100 billionaires appeared in the leaked data, in addition to celebrities and business leaders.

Many of the aforementioned people use shell companies to keep hold of properties and other luxury items, in addition to hidden bank accounts.

A shell company often is without active business operations or significant assets. While they are not necessarily illegal, they can be used to hide business ownership from the law or the general public.

The leak provides a rare glimpse into a shadowy world of major wealth and the operations of the global offshore economy, although the findings may not come as a surprise to many.

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