The Panama series: who appears in a new basis of investigative journalists


International consortium of investigative journalists (ICIJ) published on Sunday the database on beneficiaries of foreign offshore companies whose names became known through leaked from a Panamanian law firm Mossack Fonseca. Was released information on a total of 214 thousand offshore companies registered in 21 jurisdictions, from the us state of Nevada to Hong Kong and the British virgin Islands.

Directly materials from among the 11.5 million documents leaked to the ICIJ has, not published — in a public database you can find only names verified by the investigators (i.e. printed confirmed identity of the documents Mossack Fonseca) owners of offshore companies and communication between different companies.

The array data was added to the existing three-year database, which contained information about more than 100 thousand offshore companies. While ICIJ notes that the ownership of offshore companies and trusts is not in itself evidence of a violation of law. “We don’t want to give the impression that any of the aforementioned persons, companies or entities included in the database ICIJ Offshore Leaks violated the law or acted in a reprehensible manner,” notes the consortium.

A large Chinese offshore

Judging by the General data materials Mossack Fonseca and previous leaks, the creation of offshore companies are extremely popular with citizens of China, not only China but also Hong Kong and Taiwan. These three jurisdictions account for nearly 79 thousand owners and beneficiaries of offshore companies, more than in all EU countries, USA, Japan, Russia and other BRICS Nations combined. On the fourth place of the United States (7325 personal cards), the fifth — Russia (6285), followed by UK (5676) and Switzerland (4595). If we compare the number of beneficiaries of offshore companies per capita in this list of countries, then China will be far behind — to lead will be Hong Kong (the beneficiary of 3.54 per 1000 people) and known for its liberal tax laws of Cyprus (3,13) and Luxembourg (3,06). In Russia, this figure was twice the USA or China (0,043 0,023 0,024 and vs, respectively).

To generalize on the basis of pure statistics should be treated with caution, many owners or beneficiaries of offshore companies is not defined in the database ICIJ as citizens of a state, and some are assigned to unexpected jurisdictions — so, a namesake of the former Russian Vice Prime Minister Alfred Koch and full namesake of the Russian billionaire Dmitry Rybolovlev was among the German owners of offshore companies, and namesake of the owner of Northgas Farhad Ahmadov — Saudi benefitsiarov among such companies. Some cards are duplicated (in the base you can find, for example, three “Sergeev Roldugina”).

Namesake of billionaires

The database ICIJ not provide the ability to identify her for certain defendants. In total, the securities referred to Mossack Fonseca full namesake 16 of 77 Russian billionaires. They were beneficiaries of a total of 50 offshore companies, 20 of which continue their work until now (most of which closed or received the status of “inactive” were closed in the period 2013-2015).

“The closure of companies in the offshore due to the fact that at the end of 2014 adopted a law on controlled foreign companies, says partner Paragon Advice Group Alexander Zakharov. — Offshore companies by Russian businessmen did not become less, but now the owners prefer to open them themselves, and nominee shareholders are often non-tax residents of Russia.”

Namesake Russian tycoons, who worked with the Panamanian law firm were frequently owners of companies in the British virgin Islands, this jurisdiction accounted for 47 offshore. Only two were registered in the Bahamas and the only one in the Seychelles.

Namesakes among the captains of Russian business is mostly in the database Mossack Fonseca the name of Alisher Usmanov. The namesake of founder and main shareholder USM Holdings in the archives opened 11 cards, which show his connection with the 15 offshore companies.

The number of offshore companies for him is a full namesake of a Russian investor Alexander Svetakov — he owned at different times by 11 firms. All of them were registered in the British virgin Islands, the main part (except for single firms) — in 2005-2006. In some records, Svetakov listed as Alexander Svetakov 76%. It is known that its namesake, a Russian businessman, owns 76% of investment group “the absolute”. Five of the 11 offshore companies are already closed or are preparing for liquidation.

One offshore were opened up to the namesake of the head of “RUSAL” of Oleg Deripaska, was the beneficiary registered in the BVI company, which served from 2003 to 2015) and Vladimir Anisimov (the owner of company Coalco International and a partner of Usmanov’s holding “metalloinvest” with the same last name name is Vasily), as well as shareholder of the Bank of Cyprus Dmitry Rybolovlev (in April, the representative of the businessman has confirmed that Rybolovlev owned the offshore company Xitrans Dinance Ltd). The namesakes of the co-owner of Promsvyazbank Dmitry Ananiev and Chairman of the Board of Directors of the Pipe metallurgical company Dmitry Pumpyansky virgin offshore closed in 2011 and 2015 respectively.

Valid offshore listed for the namesake of the head of the Board of Directors of Russian copper company Igor Altushkin — it was opened in the BVI five years ago. In addition Altushkin, a shareholder of the company listed Ruslan Baysarov (the namesake of General Director at Tuva energy industrial Corporation (TEIC), which occupies 89-e a place in rating Forbes “Richest businessmen of Russia” 2016 with a capital of $0.9 billion). In 2014, offshore appeared in the same jurisdiction and the namesake of the investor Andrey Rapoport.

The brothers Arkady and Boris Rotenberg also has a namesake in the securities of Mossack Fonseca, each of them have been recorded at the three offshore. The two companies Arcadia, Baker Global (registered in the British virgin Islands in 2009), Causeway Consulting (worked there since 2010), continue to function. Boris was left alone — Kenrick Overseas, this year marks a decade of its activities.

sent the queries listed business, waiting for responses. The representative of Deripaska, Rapoport, SMP Bank Rotenberg has refused comments.

The President’s press Secretary Dmitry Peskov, commenting on the appearance of another portion of the Panamanian archives, said that they “steal” and that by themselves the offshore companies “are not regarded as something illegitimate.” From Alexander Zakharov, Paragon Advice notes that in itself, the discovery of offshore companies is not a violation of the law, but those whose names appeared in this list and whose offshore companies act after the adoption of the anti-offshore laws will likely be under the scrutiny of regulatory bodies