Wednesday 6 April 2016

Saudi king in the Middle of Panama Scandal Papers

Saudi king in the Middle of Panama Scandal Papers




News Update,RIYADH - Data Leakage-owned law firms, Mossack Fonseca associate a name with a number of prominent figures and world leaders with corruption scandals, tax evasion and manipulation of financial activity known as Panama Papers.

One of the leaders of the participating countries involved in the scandal that is the King of Saudi Arabia, Salman bin Abdulaziz al-Saud.

According to the document Papers Panama, the leader of the House of Saud who ascended the throne in January 2015 the use of offshore Virgin Islands, British to buy mortgages and eliminate the mansion located in London.

The report quoted from the Royal Central, Tuesday (04/05/2016), said that the total mortgages were transferred from the use of the company reached USD34 million, or approximately Rp449 billion.

The role of the king himself is not mentioned in detail in the leaked document was the largest in history, and only associated with mortgages and assets that he possesses through the offshore.

The Saudi Arabian government itself, has not given any response or explanation regarding the involvement of the Saudi king with this Papers Panama scandal.

Panama Scandal Papers published by the German newspaper Süddeutsche Zeitung at the weekend reveal ownership of offshore companies and a shell company or a fictitious company belonging to the country's leaders, politicians, and popular world figure.

Although it was legal, such companies are widely used for money laundering, tax evasion, and hide financial transactions, so that ownership suspicion.

Until now, Panama Papers have dragged the name of 72 heads of state and former heads of state were allegedly involved in such practices.(n/u)

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