Panama Papers database goes online; Bangladeshis named

International Desk: Three new companies, 14 new addresses and a host of names with links to Bangladesh were among the second list of the offshore entities that were published on Monday by the International Consortium of Investigative Journalists (ICIJ).

 

Bangladesh Biman Inc, Islamic Solidarity Shipping Company Bangladesh, and Bangladesh Textile Agencies Ltd were the three new entities.

 

Mehboob Chowdhury, Bilkis Fatima Jesmin, Abul Bashar, M Selimuzzaman, Rudy Ben-Jamin, Yusuf Raihan Reza, Novera Chowdhury, Benzir Ahmed, Afzalur Rahman, Sudhir Mullick, Jiban Kumar Sarkar, and Nizam M Selim, among others, have been named in the Panama Papers with links to Bangladesh. This does not suggest any wrongdoing.

 

The leaks show that the names of the entities are largely foreign sounding but the addresses used are located in Bangladesh.

 

The addresses include Mrs Reem Tariq El Mutwalli of Rosabel Limited located in 65-66 Motijheel Commercial Area; Peter Scrancher of Paradise Isle Holdings Ltd of Raozan, Chittagong; Madina Smagulov of Forrell Real Estate Inc of Gulshan; Marcos Augusto De Moraes Lake Strand Corp in Gulshan; Diego Alfredo Giucci Schmidt of HMLS SA in Gulshan; Ekaterina Kunitskaya of Whitesand Corporation Ltd in Baridhara; and Wei Huahai of Kyde SCM Ltd located at Concord Tower, Kazi Nazrul Islam Avenue, Bangladesh.

 

The addresses also include: Rafael Salomao Prado of RS Prado Ltd at Boro Moghbazar; Dr John Richard Forrest of Leparin Ltd in Mirpur; Lo Kit Yee Grace of Top Switch International Ltd in Banani; Aleksandr Zakharov of Direx Enterprises Ltd in Panchlaish, Chittagong; Huang Shu-Hui of Kuo Peng Ltd at Mirpur; Chiu Hsiao-Chun of Sun Speed Trading Ltd in Baridhara; and Tang Vung Kong Stephane of Kit Micro Co Ltd in Gulshan.

 

In South Asia, the second list released by Panama Papers revealed that around 400 Pakistanis have established 350 offshore companies. They include various renowned businessmen, politicians and social figures, reported Pakistan-based the News.

 

The data, collated by the ICIJ, comes from the Panamanian law firm Mossack Fonseca and includes information about companies, trusts, foundations and funds incorporated in 21 tax havens.

 

The database is accessible at www.offshoreleaks.icij.org.

 

This ICIJ database contains information on almost 320,000 offshore entities that are part of the Panama Papers and the Offshore Leaks investigations. The data covers nearly 40 years up to the end of 2015 and links to people and companies in more than 200 countries and territories.

 

The ICIJ website says it does not intend to suggest or imply that any persons, companies or other entities included in the ICIJ Offshore Leaks Database have broken the law or otherwise acted improperly.

 

But BBC reported that the Panama Papers have shown how some wealthy people use offshore firms to evade tax and avoid sanctions.

 

The papers belonged to Mossack Fonseca were leaked by a source simply known as "John Doe". The company denies any wrongdoing.

 

The documents have revealed the hidden assets of hundreds of politicians, officials, current and former national leaders, celebrities and sports stars.

 

Source: Agencies

 

risingbd/Dhaka/May 10, 2016/A K Azad