Panama Papers: Three exposed sons of Pakistan PM defend offshore companies

Wednesday, 6 April 2016 00:00 - - {{hitsCtrl.values.hits}}

BBC: A son of Pakistani Prime Minister Nawaz Sharif has defended his family’s ownership of offshore companies, saying the family has done “nothing wrong”.

Leaked documents show that three of Sharif’s children were linked to offshore companies that owned properties in London, local media say.

Some opposition leaders have called for Sharif to be investigated over his family’s “wealth stashed abroad”. However, Sharif’s son Hussain said all their business affairs were legal.

Pakistani newspaper The News and The Indian Express said Sharif’s sons Hussain and Hasan, and his daughter Maryam, were linked to several offshore companies.

The allegations stem from a leak of 11 million documents held by the Panama-based company Mossack Fonseca to German newspaper Sueddeutsche Zeitung, which were then shared with the International Consortium of Investigative Journalists (ICIJ).

There are legitimate ways of using tax havens and offshore companies, although these entities are often used to hide the true owners of assets or avoid paying tax on the money.

Maryam, Hasan and Hussain Nawaz Sharif were either owners of, or had the right to authorise transactions for, the offshore companies, the ICIJ said.