onsdag 6. oktober 2021

Former Hong Kong Leaders Concealed Wealth Offshore: Pandora Papers

Former Hong Kong leaders Tung Chee-hwa and Leung Chun-ying were named among hundreds of public officials in 91 jurisdictions around the world known to be concealing assets in a worldwide web of secret financial dealings by the global elite. According to the Pandora Papers leak by the International Consortium of Investigative Journalists (ICIJ), Leung didn't declare his income from the sale of shares of a Japanese company while still chief executive of the Hong Kong Special Administrative Region of the People's Republic of China from 2012-2017.

Billionaire shipping magnate Tung Chee-hwa, who held the job from 1997-2005, was found to have set up offshore companies after leaving office, the papers showed. Both remain part of the ruling Chinese Communist Party (CCP)'s political system for governing Hong Kong, which has seen a rapid and widening erosion of its promised freedoms amid a citywide crackdown on dissent and political opposition under a draconian security law imposed by Beijing.

The Pandora Papers investigation saw 600 journalists from 150 news organizations in 117 countries comb through nearly 12 million files from more than a dozen financial institutions. They found paper trails linking world political and business leaders to trillions of dollars in offshore wealth.