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    Bahamas Leaks Updates : 150 Pakistanis own offshore firms - 09-22-2016 01:53 PM

    Bahamas Leaks Pakistan, Bahamas Leaks News, Bahamas Leaks in Urdu, Bahamas Leaks Pakistan, Names of Pakistanis in Bahamas Leaks, What is Bahamas Leaks ? While Pakistani political parties are struggling to probe into the Panamagate scandal, another cache of leaked documents has revealed tax heaven of elite, carrying names of 150 Pakistanis who own companies in the Bahamas, a constellation of over 700 islands.

    The investigation is based on leak of 1.3m internal files from the company register of the Bahamas, one of the world’s most notorious tax havens.

    The data has brought to light details of the financial interests of politicians, entrepreneurs, financiers – and fraudsters.

    Five months after the release of the Panama Papers, this new cache of information from the world of offshore tax havens contains the names of directors and some shareholders at nearly 176,000 shell companies, trusts and foundations.

    The data was received by the German newspaper Süddeutsche Zeitung, and will be shared with the public in a Bahamas leaks database, built by the International Consortium of Investigative Journalists (ICIJ) in Washington and also launched on Wednesday.

    The Bahamas leaks, published by the Guardian, reveal that several Pakistani companies are registered in the Caribbean tax haven of Bahamas.

    In a statement, the ICIJ said the new “revelations” were also published by news organisations in Europe, South America, Asia and Africa.

    A brief detail shared by different media sources suggested that about 150 Pakistanis have been identified as directors of nearly 70 companies, out of 175,000 firms incorporated in the Bahamas between 1959 and 2016.

    Among the Pakistanis, Jibran Khan, son of former federal minister Mohammad Naseer Khan, has been named in the ‘Bahamas leaks’, while the name of former Jamaat-e-Islami senator Professor Khursheed Ahmad is also found in the fresh data as director of a registered bank in Miami.

    Obaid Altaf Khanani, Samina Durrani and Karachi-based builder Mohsin Sheikhani also own offshore companies.

    An investigation of the list by The Indian Express has shown that the Bahamas Leaks has 475 India-related files linked to corporate personalities across sectors such as mines and metals, electronics, real estate, media and entertainment.

    Some of them have also figured in the Panama Papers global investigation.

    Anil Agarwal of the Vedanta Group; Kabir Mulchandani of the erstwhile Baron Group who had made it big in the domestic consumer electronics sector with Akai, Aiwa and Hitachi tie-ups in the 1990s; Fashion TV India promoter Rajan Madhu; Aman Gupta, chairman and chief executive of premium Finnish water brand Veen Waters; are some of the prominent personalities associated with companies in the Bahamas Leaks investigated by The Indian Express.

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