Pandora Papers expose secret wealth, dealings of world leaders and billionaires

The secret wealth and dealings of world leaders, politicians and billionaires have been exposed in one of the biggest leaks of financial documents called "Pandora Papers".

According to BBC, the Pandora Papers is a leak of almost 12 million documents revealing hidden wealth, tax avoidance and, in some cases, money laundering by some of the world's richest and most powerful.

Over 600 journalists from 117 countries have worked through files from 14 sources for months, finding stories that are being published this week, reports BBC.

The data was obtained by the International Consortium of Investigative Journalists (ICIJ) in Washington DC, which has been working with more than 140 media organisations on the biggest ever global investigation.

The files expose how some of the most powerful people in the world -- including more than 330 politicians from 90 countries -- use secret offshore companies to hide their wealth.

Ambassadors, mayors and ministers, presidential advisers, generals and a central bank governor appear in the files.

The papers reveal how members of Pakistan Prime Minister Imran Khan's inner circle, including cabinet ministers and their families, secretly own companies and trusts holding millions of dollars

The papers also reveal the King of Jordan secretly amassed £70m of UK and US property.

The papers show how ex-UK PM Tony Blair and his wife saved £312,000 in stamp duty when they bought a London office.

The couple bought an offshore firm that owned the building.

The leak also links Russian President Vladimir Putin to secret assets in Monaco, and shows the Czech prime minister Andrej Babis - facing an election later this week - failed to declare an offshore investment company used to purchase two villas for £12m in the south of France.

ICIJ obtained more than 11.9 million financial records, containing 2.94 terabytes of confidential information from 14 offshore service providers, enterprises that set up and manage shell companies and trusts in tax havens around the globe.

The files reveal secret offshore holdings of more than 130 billionaires from 45 countries including 46 Russian oligarchs. In 2021, according to Forbes, 100 of the billionaires had a collective fortune of more than $600 billion. Other clients include bankers, big political donors, arms dealers, international criminals, pop stars, spy chiefs and sporting giants.