Panama Papers: Massive leak alleges PM Nawaz, sons and daughter among world leaders who use tax havens to hide their wealth
LAHORE (Web Desk) - Eleven million documents were leaked from one of the world's most secretive companies, Panamanian law firm Mossack Fonseca revealed that Prime Minister Nawaz Sharif, his sons Hussain and Hasan Nawaz, and daughter Mariam Safdar set up at least four offshore companies in British Virgin Islands (BVI).
These companies owned at least six upmarket properties overlooking London’s Hyde Park.
According to media reports, Sharif family mortgaged four of these properties to the Deutsche Bank (Suisse) SA for a loan of GBP 7 million and the Bank of Scotland part-financed the purchase of two other apartments.
The document leak, consisting of over 11 million files, also exposes the dealings of 72 other current or former heads of state including dictators accused of looting their own countries.
Gerard Ryle, director of the ICIJ, said the documents covered the day-to-day business at Mossack Fonseca for over the past 40 years.
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