The Appleby leak Latest Revelations of the Paradise Papers
It has been almost one year since the Panama Papers were leaked, unraveling the world’s biggest finance holders. Today, a new form of data has been leaked by an offshore law firm- Appleby. The leak has lead to the exposure of wealthy individuals, which also includes many Indians, big corporations around the world, various hedge funds, and others who have evaded taxes.
Among all the unraveled people and the countries (180 in total), India has been ranked at the 19th place, in terms of all the names involved. There are more than 700 Indians in the list of names revealed. Moreover, the one of the biggest Appleby’s clients has been an Indian firm, having a minimum of 118 entities, offshore.
The revelation has come to view, meticulously, just two days prior to the one year anniversary of the occasion of Demonetization, which the NDA government was trying to observe as the Anti-Black Money Day.
The leaks reveal big names- US Commerce Secretary Wilbur Ross having huge stakes in Vladimir Putin’s son-in-law’s firm, Queen Elizabeth’s multi million pound worth of estate which are said to be invested in offshore hedge funds, and many other giants.
The leaks and the revelations have come out because of an investigation led by the ICIJ, providing data which was collected in 2016 owing to the hack of Appleby Global Service. Appleby is a Bermuda based firm that provides legal services to people in terms of Hedge funds.
While the ICIJ is said to be the mastermind behind the Panama Paper leak as well, which were about million pages documenting the strategies and the people using these strategies to hide their assets and to avoid taxation rules.
In their comment to the media, Appleby stated that their data was breached, while on the contrary, the investigation by various journalists found no such findings.