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ICIJ Profile picture
@ICIJorg
Nov 3, 2021 • 6 tweets • 5 min read • Read on X
NEW: The #PandoraPapers show how billions of dollars are being poured into real estate by the rich and famous, whose ownership is obscured by shell companies, trusts, and other offshore entities — fueling inequality and driving up prices around the world. bit.ly/3bFy2oB
Some of the most high profile cases to emerge from the #PandoraPapers involve offshore real estate transactions, including Jordanian King Abdullah’s luxury properties valued at $100 million, and outgoing Czech PM Andrej Babis’ secret French chateau.
bit.ly/3bFy2oB Image
Why are officials, celebrities, oligarchs and other elites scooping up real estate via offshore vehicles? By purchasing properties through a shell company, buyers can secure tax breaks and hide their identities from law enforcement, creditors & the public. bit.ly/3bFy2oB Image
In the U.K. alone, the #PandoraPapers reveal the beneficial owners of an estimated $5 billion of property, much of it in London, where more than 36,000 properties are owned through offshore companies. bit.ly/2ZUZk8a Image
But the #PandoraPapers show money being poured into real estate beyond the expected luxury real estate hotspots of London or Miami. We found dairy farms in Tasmania, a German nursing home and rental homes in US suburbs bought through offshore entities.
bit.ly/3EKjfVU
👉 You can explore nine case studies from the #PandoraPapers from all over the world, showing the diverse range of property transactions happening offshore — and unveiling the secret owners and investors behind them. bit.ly/3EKjfVU ImageImageImage

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More from @ICIJorg

ICIJ Profile picture
Dec 6
#CaspianCabals journalists from over a dozen countries probed the Kremlin’s control and Western interests in a critical Russia-Kazakhstan oil pipeline, and how its influence and impact spread to Europe, the U.S. and beyond.

Here are some of their stories: buff.ly/49rSZAl
Over the past two years, the Netherlands' oil imports from Kazakhstan have increased eightfold, ICIJ’s Dutch partner @nrc found, largely driven by sanctions on Russian oil. But the relationship between the countries' oil industries is “toxic and shaky.” buff.ly/3ZrXTbU
@nrc A small town in Germany is thriving thanks to a local refinery that plays a pivotal role in processing crude for the petrochemical industry, where at least some of the oil comes from Kazakhstan, ICIJ’s German media partners @derspiegel and @ZDFheute found. buff.ly/3OKrc4O
Read 5 tweets
ICIJ Profile picture
Aug 2
Since the 1950s, Israel Bonds, which sells bonds to fund Israel’s government, has evolved, increasingly courting banks and other institutional investors.

In recent years, U.S. states and municipalities have sunk billions into Israeli bonds. buff.ly/3SwnUUM
Thousands of records obtained by ICIJ reveal Israel Bonds’ tight relationship with U.S. institutional investors, and how some officials who buy Israeli bonds have had access to gala dinners, cocktail celebrations, and private meetings with Israeli leaders.buff.ly/3SwnUUM
A spokesperson for Israel Bonds told ICIJ that the bonds are safe investments with steady returns, and described the group’s sales strategy as “just like any other business.” But ethics experts say such dealings are not always so straightforward.

buff.ly/3SwnUUM
A quote by Richard W. Painter, a law professor who was a chief White House ethics lawyer during the George W. Bush administration, reads “These types of practices, the mixing up of the personal and official, seem to go well beyond what’s seen as acceptable.”
Read 6 tweets
ICIJ Profile picture
May 14
Interpol has asked governments worldwide to find and provisionally arrest Isabel dos Santos, yet the former Angolan billionaire isn't hiding. Instead, she often posts about her lavish lifestyle at a Dubai residence.

The country has remained her safe haven.buff.ly/3ykHpIP
Newly leaked Dubai property data reviewed by ICIJ for #DubaiUnlocked reveal that dos Santos and her mother, Tatiana “Kukanova” Regan, co-own an apartment in a building called Sadaf, Arabic for “seashell,” overlooking Dubai Marina and the Persian Gulf. buff.ly/3ykHpIP
The eldest daughter of Angola’s former president, dos Santos came under scrutiny by authorities on three continents after ICIJ’s #LuandaLeaks revealed how lucrative deals obtained under her father’s rule helped her become Africa’s richest woman. buff.ly/3UY5DBE
Read 5 tweets
ICIJ Profile picture
May 12
Did you miss the launch of our #SwaziSecrets investigation?

Catch up with the stories our partners worked on in this thread!
@amaBhungane, @AJEnglish, @FinUncovered, @OpenSecretsZA, @jeune_afrique, @TheAfricaReport, @MakandayMedia, @PremiumTimesng buff.ly/4dBIMTK
@amaBhungane @AJEnglish @FinUncovered @OpenSecretsZA @jeune_afrique @TheAfricaReport @MakandayMedia @PremiumTimesng buff.ly/4dwsA61
@amaBhungane @AJEnglish @FinUncovered @OpenSecretsZA @jeune_afrique @TheAfricaReport @MakandayMedia @PremiumTimesng buff.ly/3UWbd6r
Read 11 tweets
ICIJ Profile picture
Mar 26
A member of the Qatari royal family invested about $50 million in Newsmax, bolstering the conservative outlet at a time when Qatar was facing diplomatic pressure and seeking U.S. allies.

buff.ly/3ITH5mh
A photo of Donald Trump besides a photo of Christopher Ruddy. The headline reads, “Qatari royal invested about $50 million in pro-Trump network Newsmax.”
Sheikh Sultan bin Jassim Al Thani, a former Qatari government official and the owner of a London-based investment fund, Heritage Advisors, invested in Newsmax in 2019 and 2020.

The investment has not been previously reported. buff.ly/3ITH5mh
The documents were obtained by ICIJ from a trove of roughly 100,000 leaked files from Genesis Trust, a Cayman Islands-based financial services provider now called Highvern.

Newsmax and Heritage Advisors confirmed the investment. buff.ly/3ITH5mh
Read 8 tweets
ICIJ Profile picture
Dec 28, 2023
ICIJ's 2023 investigations stretched around the world, exposing greenwashing in the global sustainability industry, labor trafficking in the Middle East, and the sprawling financial networks that have powered the Putin regime.

Let's take a look back: bit.ly/479C9DM
Image
ICIJ-led investigation #CyprusConfidential revealed how the EU member state has served as a hideaway for Russian wealth, with Cypriot firms moving vast sums for oligarchs, including after Russia’s 2022 Ukraine invasion.

bit.ly/488EzUo
An illustration depicting a dome characteristic of Russian Orthodox churches balancing precariously on a Greek-style column. The headline reads, “Cyprus ignores Russian atrocities, Western sanctions to shield vast wealth of Putin allies.”
Two wealthy Haitians sanctioned by Canada owned or had other links to almost 20 companies and trusts created in some of the world’s most secretive tax havens, according to documents from the #PandoraPapers.

bit.ly/3TAPf9Z
Composite image of scanned passports and two men carrying a coffin. The headline reads, “How US lawyers and bankers aided powerful Haitian tycoons now sanctioned over corruption by Canada.”
Read 7 tweets

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