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Bahamas Leak Trembles 475 Indian Black Money Holders After Panama Papers Tsunami


To start with, Bahamas is a group comprising of 700 Islands in the Atlantic Ocean north of Cuba. Interestingly, the Panama leak and the Bahamas leak operations are taken by the same International Consortium of Investigative Journalists (ICIJ) and its media partners.

Big names have been highlighted with Panama issue, and the same is being repeated now the #bahamasleaks. The Islands are Tax-free paradise for any one.  Hence many black money holders find it a way to make their transactions legal.

Pakistan Prime Minister Compels Unites States and UK to Solve issues with India

Mainly 475 Indian names have been screened amongst the 1, 75,000 names worldwide. Out of 475 Indians, many Hyderabad-based firm names and individual names have been highlighted. This came at a point of time when the Indian government has set a deadline of September 30th, 2010 for the declaration of unaccounted or undisclosed money till date.

Now, Bahamas leak might be an asset for the Indian government and Income Tax department to take action against the black money holders and Tax evaders.

Vedanta Group’s Anil Agarwal, Erstwhile Baron Group’s Kabir Mulchandani, Fashion TV India promoter Aman Gupta and On clave PTC, a trust company are the big names at National level. Coming to the state level, Nimmagadda Prasad, a business tycoon, is a major name that is being aired by the local media channels.

Indian Navy on High Alert After Suspicious Men with Arms Found in Military Uniform

Chandigarh-based Harbhajan Kaur and Gurjit Dhillon, mother-daughter duo linked to one Century Industries registered in the Bahamas, Aman Gupta the chairman of a Finnish water brand Sanjiv Kapoor, Jitendra P Patra and Sadat Rafiq Multani Myra Delores Rego of Mumbai and Ashok Chawla of Delhi are linked with an American and a Brit are named in the Bahamas leak.

Panama Papers Released Today Online by ICIJ Officials freed data of Power Players

Panama Papers

The Panama Papers reveals Politicians, Criminals, and the Rogue Industry that hides the monetary released by a pseudo name “John Doe.”

At last ICIJ official published on Panama Papers offshore companies data today at 14.00Hrs.

What Are The Panama Papers?

Panama Papers, one the biggest power players of offshore revealed. The documents so far 11.5 million leaked that switches the financial information for more than 214,488 offshore entities. The creators of the leaked documents are Panamanian law firm and corporate service provider Mossack Fonseca dated back to the 1970s’.

The leaked documents explicate the information on wealthy individuals, including public officials, personal information which is kept private. The offshore business entities are not illegal in the jurisdictions in which they registered, but the reporters found that some of the shell corporations used for illicit purposes including kleptocracy, fraud, tax evasion and evading international transactions.

“John Doe,” leaked the privacy documents to a German newspaper Suddeutsche Zeitung he told them “My Life is in Danger.” ICIJ (The International Consortium of Investigation Journalists) posted the whole written statement on its website.

The analysis by ICIJ and 107 media organizations in 80 countries detailed the operations of the Panamanian law firm. More than 15 months of analysis, on April 3, 2016, the news stories published along with 149 documents. Some media uses the name “Mossack Fonseca” papers covering the story.

A disclosure of leaked documents contains identities of Directors and Shareholders of 214,000 shell companies of Mossack Fonseca. When German newspaper agency asked John Doe that why, you are doing this? He replied, “I want to make these crimes public.”

Even U.S. officials react on Panama Papers issue stating that disclosures with Getting – Tough proposals. The Obama administration reveals that the offshore that would crack down secrecy and illicit financial transaction.

Panama Papers Details Released: https://goo.gl/jb7JUY (ICIJ Website)

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