Three more Malaysian politicians' sons named in Panama Papers
Astro Awani
May 13, 2016 22:30 MYT
May 13, 2016 22:30 MYT
The public gained its first access to the Panama Papers records of over 200,000 secret offshore companies Monday when the International Consortium of Investigative Journalists put a searchable database up online.
At least three more sons of Malaysian politicians have been named in the leaked 'Panama Papers' as having offshore accounts.
Previously, only the son of Prime Minister Datuk Seri Najib Razak, Nazifuddin Najib, was named.
The three named, as reported by Malaysiakini today, were Fakhri Yassin Mahiaddin, Mirzan Mahathir and Ahmad Zachry Anifah.
The three are sons of former deputy prime minister Tan Sri Muhyiddin Yassin, former prime minister Tun Dr Mahathir Mohamad and current Foreign Minister Datuk Seri Anifah Aman.
According to the news portal, its checks revealed that Fakhri Yassin, who is Muhyiddin's eldest son, had set up his two offshore accounts in the British Virgin Islands – one for Akila Way Limited BVI on March 11, 2004 and the other for Farsight Plan Investments Ltd on June 4, 2011.
As for Ahmad Zachry Anifah, 32, who is Anifah's youngest son, he reportedly set up Green Energy Management Solutions Ltd in the British Virgin Islands on May 13, 2010 with another person.
But the portal's checks revealed that the firm was shut down in 2013 due to inactivity, it claimed.
The other person named in the Panama Papers was Mirzan Mahathir, Dr Mahathir's eldest son.
Malaysiakini reported that Mirzan was listed as having registered a firm – Sergio International Ltd – in the British Virgin Islands on March 8, 2002.
The firm, however, was struck off after it was deemed inactive on Nov 1, 2006.
The news portal claimed that it tried to contact all three for immediate responses but efforts proved futile for Fakhri Yassin and Ahmad Zachry.
But for Mirzan, the portal claimed a company spokesman had denied the former's involvement or links to Sergio International Ltd.
The Panama Papers first came to light when millions of documents covering nearly 40 years of business were leaked from the archives of Panamanian law firm, Mossack Fonseca.
Mossack Fonseca reportedly created thousands of shell companies worldwide to hide the identities of their ultimate owners, some of whom may have been evading taxes.
However, it is noted that setting up shell companies offshore are not illegal, and not all offshore accounts are linked to tax evasion.
The public gained its first access to the Panama Papers records last Monday when the International Consortium of Investigative Journalists put a searchable database up online.