Panama Papers: More on Big B, Aishwarya...

By Staff Published: 2016-04-04T06:05:28+04:00

They’re the ones we love – or love to hate, as the case may be.

As news spreads about a massive leak of 11.5 million tax documents that is bringing to light the largest money laundering scam – ever – names of some of the personalities that we’ve grown fond of start appearing, calling into question their integrity and our love for them.

Among the major names that seem to be rocking our boat is the revered Indian actor Amitabh Bachchan, who we were told just yesterday was in the race to become India’s next President.

Indian Prime Minister Narendra Modi, it is being rumoured, is all set to propose the superstar’s name for the next President of India.

Of course the humble actor himself doesn’t see himself worthy of the office. “I’m deeply humbled and touched by the thought. But I’m not worthy of such a distinguished post of responsibility. Besides no such offer or proposal has come my way yet,” he was quoted as saying in an Indian newspaper last week.

That proposal may not come anytime soon now – even if Bachchan’s name in the Panama Papers turns out to be a case of false alarm.

Investigative Indian daily ‘Indian Express’ says it has names of more than 500 Indians linked to offshore firms, and among them are the venerable Bachchans – Amitabh and his daughter-in-law Aishwarya Rai Bachchan.

According to the daily, Amitabh Bachchan was appointed director in at least four offshore companies set up in 1993. Despite the authorised capitalisation of those companies being relative peanuts (between $5,000 and $50,000), they apparently traded in ships worth millions of dollars.

‘Indian Express’ investigation also shows that Aishwarya Rai and her family – mother, father and brother – were registered in 2005 as partners in an offshore firm, with Aishwarya’s status later being changed to shareholder prior to the company’s liquidation in 2008.

In addition, former Pakistan Prime Minister Nawaz Sharif’s children – Maryam Nawaz, Hasan Nawaz Sharif and Hussain Nawaz Sharif- also feature on the list of those who’ve somehow laundered black money through offshore accounts and firms.

Further, 29 billionaires featured on the Forbes list of the world’s 500 richest people have been found connected to Mossack Fonseca, the leaked records revealed.

Soccer star Lionel Messi and movie star Jackie Chan both own multiple companies managed by Mossack Fonseca, ICIJ reported.

Read: Amitabh Bachchan, Aishwarya Rai, Lionel Messi, top world leaders… exposed