Paradise Papers: ICIJ Names Pakistanis In Latest Release

Paradise Papers: ICIJ Names Pakistanis In Latest Release

Washington (November 5, 2017): The International Consortium of Investigative Journalists (ICIJ) on Sunday released Paradise Papers 13.4 million documents revealing over 25,000 companies owned by the world’s top class individuals.

The Paradise Papers reveal data of over 25,000 companies spanning 180 countries, from 1950 to 2016.

The Paradise Papers revealed names of Shaukat Aziz and Ayaz Khan Niazi in the Paradise Papers.

Shaukat Aziz, who has served as the prime minister from 2004 to 2007 after completing a five-year stint as the country’s finance minister.

Documents revealed that in 1999, the year Aziz was appointed finance minister, Aziz created the Antarctic Trust, which was constituted [in the United States] for the benefit of the Settlor’s family, which includes his wife, three children and a granddaughter.

As per documents, Shaukat Aziz was found linked with Antarctic Trust. It was set up by him whose beneficiaries include Aziz’s wife, their children and granddaughter.

Aziz had set up the trust in Delaware (USA) before becoming finance minister. Interestingly, the trust was neither declared during his stint as finance minister nor as prime minister.

Aziz settled abroad after his tenure came to an end in 2007.

Moreover, former National Insurance Corporation Limited chairperson Ayaz Khan Niazi has also been identified in the records in connection with four offshore holdings in British Virgin Islands.

Documents revealed that Andalusian Discretionary Trust, while the other three were set up as companies: Andalusian Establishment Limited, Andalusian Enterprises Limited and Andalusian Holdings Limited.All the three companies were set up in 2010 when Niazi was the chairperson of National Insurance Corporation Limited.

In the record, however, Niazi’s two brothers, Hussain Khan Niazi and Muhammad Ali Khan Niazi, were shown as the beneficial owners, whereas Ayaz along with his father Abdul Razaq Khan and mother Fauzia.

On the other hand, Paradise Papers revealed world leaders association with offshore companies including Queen Elizabeth II, Queen Noor of Jordan, Singers Madonna and Bono, Stephen Bronfman, US Secretary of Commerce Wilbur Ross and Tech mogul Yuri Milner.

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