After Panama, Paradise paper leak reveals secret investments of rich worldwide

  • Facebook
  • Twitter
  • Reddit
  • Flipboard
  • Email
  • WhatsApp
Paradise paper leak (Image Courtesy: Indian Express)
Paradise paper leak (Image Courtesy: Indian Express)

New Delhi : Touted as biggest ever financial data leakage 'Paradise Papers' has revealed the secret investment by rich people across the world.

With over 13.4 million files, the expose reveals how world's richest including Queen Elizabeth II, members of US President Donald Trump's cabinet and other celebrities have secretly invested their money in the offshore tax havens.

The information about investments in at least 19 tax havens have been fetched by Suddeutsche Zeitung, a German newspaper, and is investigated by the International Consortium of Investigative Journalists (ICIJ) in partnership with over 90 media organisations. 

An exclusive report by The Indian Express claimed that 180 countries are represented in the data. India ranks 19th in terms of the number of names in the report. In all, there are 714 Indians in the tally.

This is only the first set of revelations as more such findings will be released in over 40 reports soon.

The new leak has come into light almost 18 months after Panama Papers had shaken the world. Panama papers presented the first documented proof of black money being stashed in foreign countries, particularly in the tax havens.

ICIJ is a non-profit newsroom that relies on financial contributions from readers and friends.