Pandora Papers: Members of Imran Khan's inner circle secretly moved millions offshore

WION Web Team
NEW DELHI Published: Oct 03, 2021, 11:08 PM(IST)

Pakistan's Prime Minister Imran Khan (file photo). Photograph:( Reuters )

Story highlights

The revelations come as a part of Pandora papers, which is a new global investigation into the offshore financial system that allows multinational corporations, the rich, famous and powerful to avoid taxes

As per a shocking revelation, the key members of Pakistan's Imran Khan's inner circle including cabinet ministers, their families and major financial backers have secretly owned companies and trusts, which hold millions of dollars of hidden wealth. This also involves military leaders.

However, the documents contain no suggestion that Khan himself owns offshore companies.

During his victory speech, Khan said, “We will establish supremacy of the law." He further added, “Whoever violates the law, we will act against them. Our state institutions will be so strong that they will stop corruption. Accountability will start with me, then my ministers, and then it will go from there.”

Those whose holdings have been exposed include Khan’s finance minister, Shaukat Fayaz Ahmed Tarin, and his family, and the son of Khan’s former adviser for finance and revenue, Waqar Masood Khan. 

The records also reveal the offshore dealings of a top PTI donor, Arif Naqvi, who is now facing fraud charges in the United States.

Also read | Pandora Papers: Largest leak of offshore data in history explained

The files also reveal how Chaudhry Moonis Elahi, who is a key political ally of Khan, planned to put the proceeds from an allegedly corrupt business deal into a secret trust, concealing them from Pakistan’s tax authorities. He has not responded to ICIJ’s requests for comment. 

However, today, a family spokesman told ICIJ’s media partners that, “due to political victimisation misleading interpretations and data have been circulated in files for nefarious reasons.” He added that the family’s assets “are declared as per applicable law”.

Offshore holdings involving military leaders and their families reveal that a luxury London apartment was transferred from the son of a famous Indian movie director to the wife of a three-star general. 

The general told ICIJ the property purchase was disclosed and proper. His wife did not reply.

The revelations come as a part of Pandora papers, which is a new global investigation into the offshore financial system that allows multinational corporations, the rich, famous and powerful to avoid taxes.

The investigation is based on more than 11.9 million confidential files from 14 offshore services firms leaked to the International Consortium of Investigative Journalists and shared with 150 news organizations around the world.

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