This archive report was first published on 3 October 2021.
On October 3, 2021, the British Broadcasting Corporation (BBC) published a report exposing a shadowy network of companies and offshore accounts used by world leaders to stash billions of dollars. Kenya's President Uhuru Kenyatta and six of his family members are among those implicated.
The Pandora Papers, a leak of financial documents, revealed that President Uhuru and his family secretly owned a network of offshore companies linked to 11 firms, with one valued at $30 million (approximately Sh. 3.31 billion).
The leak is the latest in a series of financial document leaks, including the FinCen Files, Paradise Papers, Panama Papers, and LuxLeaks. The International Consortium of Investigative Journalists (ICIJ) led the examination, involving over 650 reporters.
According to the BBC, some individuals are facing allegations of corruption, money laundering, and global tax avoidance. The documents also reveal how prominent individuals have set up companies to secretly buy property in the UK.
Other notable figures mentioned in the Pandora Papers include:
- Members of Pakistan Prime Minister Imran Khan's inner circle, who secretly own companies and trusts holding millions of dollars.
- The law firm founded by President Nicos Anastasiades of Cyprus, which allegedly provided fake owners to disguise the real owner of offshore companies. However, the law firm denies this.
- Ukraine's President Volodymyr Zelensky, who transferred his stake in a secret offshore company just before the 2019 election.
- Ecuador President Guillermo Lasso, a former banker, who replaced a Panamanian foundation making monthly payments to his close family members with a trust based in South Dakota in the US.
