7 News Belize

Panama Papers Proponents Back Off Ashcroft
posted (April 11, 2016)
A week ago, we told you about the Panama Papers. It's a leak of 1.5 million financial and legal records from a Panamanian law firm known as Mossack Fonseca and Company. IT shows how approximately 140 financially and politically well connected persons hid their wealth in offshore tax havens.

It's the biggest news right now on the international scene because the International Consortium of Investigative Journalists say that these documents reveal a global network of tax-evasion, which, quote, "enables crime, corruption and wrongdoing, hidden by secretive offshore companies."

Belize was named as one of the 50+ countries connected to the scandal, and the I-C-I-J SAID, and purported to show that billionaire businessman Michael Ashcroft was implicated. Well, it appears that they've had to walk way back from allegation since the leak went live about 10 days ago.

We received a press release today from Caribbean Investments Holdings Limited, an Ashcroft Allied company, which strongly asserts the I-C-I-J got it all wrong. It appears that they have because when the leak was published, they had this posting on Ashcroft. When we checked back on the Panama Papers today, the Ashcroft link and the Belize link had been taken completely down; it was nowhere to be found.

The release from Caribbean Investments Holdings Limited says, quote,

  • CIHL's subsidiary, Belize Corporate Services Limited (BCS) has never used Mossack Fonseca to provide shell corporations for its clients.
  • CIHL's subsidiary, The Belize Bank Limited, did not establish any company for Jurgen Mossack, Ramon Fonseca and Christopher Zollinger. Specifically, it did not establish M.F. & Co. (Belize) Limited.
  • BCS has never cooperated with M.F. & Co. (Belize) Limited in creating companies and acting as registered agents.

  • The Belize Bank Limited, Belize Bank International Limited, Belize Corporate Services Limited and Lord Ashcroft deny that they have in some way partnered or have done business with the Panamanian law firm, Mossack Fonseca." End Quote.

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