As the earth-shaking documents of leaked offshore financial data makes the round across the world, the age long paradigm comes handily true that with every giver, there's a receiver. The influence of the UK in hiding records of politicians and billionaires from Africa and elsewhere cannot be over-stated.
Although, setting up a company secretly isn't a crime under international law, however, many corrupt politicians and business men continue to take advantage by looting their countries dry, evading taxes and buying properties in the UK and elsewhere with proceeds from shady deals.
The document revealed how some owners of 95,000 offshore firms are behind notable purchase of properties in the country.
The UK government particularly failed to provide a register of offshore property owners due to concerns about money-laundering activities which were reported.
A good example of this deliberate indifference is that of Azerbaijani President, Ilham Aliyev and his family who have been accused of looting their country. The Aliyevs and their cronies have been secretly involved in property deals in the UK which is worth over €400m.
Ten Nigerian politicians and a dozen of others from the African continent are also implicated in the scandal which exposed 366 political leaders and businessmen across the world.
by implication, the UK is a top gainer in this. Abating criminals is just as, if not worse than the crime itself.©Standard Gazette, 2021. Unauthorized use and/or duplication of this material without express and written permission from this site’s publisher is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Standard Gazette with appropriate and specific direction to the original content.