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Panama Papers

Panama Papers are one of the biggest leaks in the human history. International Consortium of Investigative Journalists (ICIJ) released. The panama papers consists of over 11.5 million leaked documents that detail financial and attorney–client information for more than 214,488 offshore entities.The documents, some of which dated back to the 1970s, belonged to the Panamanian law firm and corporate service provider Mossack Fonseca, were leaked in 2015 by an anonymous source.

The documents contain personal financial information about wealthy individuals and public officials that had previously been kept private. While offshore business entities are legal, reporters found that some of the Mossack Fonseca shell corporations were used for illegal purposes, including fraud, tax evasion, and evading international sanctions.

The case was brought to court by Pakistan Tehreek-e-Insaf leader Imran Khan alleging money laundering, corruption, and contradictory statements by Nawaz Sharif, the incumbent Prime Minister of Pakistan, after the Panama Papers leak uncovered links between Sharif’s family and eight offshore companies.

LHC to take up contempt petition against Maryam Nawaz tomorrow

LAHORE: Lahore High Court (LHC) is set to take up a contempt of court petition filed against Maryam Nawaz – daughter of deposed Prime Minister Nawaz Sharif – on Monday (tomorrow). The petition has been filed by Advocate Azhar Siddique, adopting a stance that Maryam has been assassinating the character of judges through her tweets. The petitioner asserted that Maryam has been making derogatory remarks against the judiciary and other state institutions, besides holding the judges up to ridicule in her statements.…

These Pakistani politicians, businessmen named in Paradise Papers

KARACHI: The International Consortium of Investigative Journalists (ICIJ) leaked a fresh series of 13.4 million documents naming some Pakistani politicians and business tycoons among the most influential people around the world involved in stashing money abroad through their investments in offshore tax havens, ARY News reported on Monday. The Paradise Papers shedding light on how two firms; Bermuda’s Appleby and Singapore’s Asiaciti Trust, help the global rich and powerful move their money abroad, hitting headlines…

What are Paradise Papers? A brief guide to second largest leak

As the inclusion of former Prime Minister Shaukat Aziz in the ‘Paradise Papers’ hit headlines on Monday, the masses begin to show curiosity about it. Here is a brief exposé of the leaked papers.  The Paradise Papers are the second largest leak obtained by German newspaper Süddeutsche Zeitung and investigated by the International Consortium of Investigative Journalists (ICIJ) reveals how two firms; Bermuda’s Appleby and Singapore’s Asiaciti Trust, help the global rich and powerful move their money abroad. The leak…

After Panama Papers, Paradise Papers reveal hidden wealth of world leaders!

The International Consortium of Investigative Journalists (ICIJ), the body of journalists responsible for revealing the Panama Papers a year ago, on Sunday made new revelations regarding offshore companies of more than 120 politicians and world leaders including former prime minister Shaukat Aziz, US Secretary of State Rex Tillerson and Britain's Queen Elizabeth II. The trove of 13.4 million records has been dubbed the Paradise Papers. "The documents speak for themselves. The kind of patterns we saw with the Panama…

Not legally possible for Maryam Nawaz to see Volume X: Aitzaz Ahsan

KARACHI/ISLAMABAD: Amidst reports that Maryam Nawaz Sharif, the daughter of former Prime Minister Nawaz Sharif, has seen the classified Volume 10 of the Joint Investigation Team's report, Pakistan People's Party (PPP) leader Senator Aitzaz Ahsan clarified that it is not legally possible for her to see the document. Maryam Nawaz had recently disclosed that she has seen the classified Volume X of the JIT report investigating former Prime Minister Nawaz Sharif in the Panama Papers case, which formed the basis of his…

Zafar Hijazi indicted for tampering with Sharifs’ business records

ISLAMABAD: An accountability court on Friday indicted former Securities and Exchange Commission of Pakistan (SECP) chairman Zafar Hijazi on charges of tampering with the record of Sharif family's Chaudhry Sugar Mills. Special judge Irum Niazi read out charges against the accused in his presence, saying he tampered with the record of Chaudhry Sugar Mills and exerted undue pressure on his subordinates in this regard. Hijazi denied all charges against him and told the court that he did not alter the company's record.…

Plea for accountability of people named in Panama Papers rejected

LAHORE: A Lahore High Court bench on Friday dismissed an intra court appeal calling for accountability of all those named in the Panama Papers scandal, ARY News reported.  A division bench headed by Justice Ayesha A Malik dismissed the appeal for being non-maintainable. Syed Muhammad Ilyas had approached the court, naming Prime Minister Shahid Khaqan Abbasi, Speaker of the National Assembly Sardar Ayaz Sadiq, and Chief Election Commissioner Justice (retd) Sardar Raza Khan and others as respondents. He contended that…

Malta offers 1 million-euro reward to find journalist’s killers

VALLETTA: Malta’s government said on Saturday it was offering a reward of 1 million euros ($1.2 million) for information leading to the conviction of those responsible for the death of prominent journalist Daphne Caruana Galizia.  “This is a case of extraordinary importance which requires extraordinary measures,” the government said in a statement. Prime Minister Joseph Muscat had told parliament on Wednesday the government would offer a “substantial” reward to anyone with information about the crime but did not say…

Anti-corruption blogger killed by huge bomb in Malta

VALLETTA: Daphne Caruana Galizia, Malta’s best-known investigative journalist, was killed on Monday when a powerful bomb blew up her car, police said, in a case that stunned the small Mediterranean island. Caruana Galizia, 53, ran a hugely popular blog in which she relentlessly highlighted cases of alleged high-level corruption targeting politicians from across party lines. “There are crooks everywhere you look now. The situation is desperate,” she wrote in a blog published on her site just half an hour before an…

You brought me back with full force: Nawaz Sharif after being elected party chief

ISLAMABAD: Ousted former prime minister and newly-elected PML-N chief Nawaz Sharif on Tuesday paid tribute to the members of the upper and lower houses of the parliament for repealing a clause through Election Bill 2017, removing the bar on his election as party chief after his disqualification. “Constant efforts were made to dislodge me, but you kept electing me,” he said while addressing a cheering crowd at Convention Center in Islamabad after being elected as party chief.  "You brought back Nawaz Sharif with full…