More Names Released from ‘Panama Papers’ Leak

[geovalin]

Khmer Times/Jonathan Greig

After giving the public a taste of information last month from the “Panama Papers,” a massive trove of leaked documents detailing offshore holdings and international accounts that passed through the powerful Panamanian law firm Mossack Fonseca, two powerful Cambodian businessmen were named among the full database of those involved in the firm, released yesterday by the International Consortium of Investigative Journalists (ICIJ).

Lim Bunsour, president and CEO of AZ Group, and Nang Sothy, secretary general of the Cambodia Chambers of Commerce, were among a long list of names found in the files. Each held stakes in companies based in the British Virgin Islands with connections to addresses in Hong Kong. The ICIJ did not say what business the companies were involved in or how large a stake the men had in the companies. The ICIJ report takes pains to acknowledge that not everyone named in the leaked documents was necessarily involved in illicit financial transactions, saying there are legitimate uses for offshore companies.

But a report released last December by Global Financial Integrity (GFI), a Washington-based research organization, showed that more than $15 billion was moved out of the Kingdom illegally from 2004 to 2013 through processes known as “hot money outflows” and “trade misinvoicing.” More than $4 billion was moved in 2013 alone. Justice Minister Ang Vong Vathana was named in the initial release of documents last month, which showed he held a stake in RCD International ltd.

read more http://www.khmertimeskh.com/news/24810/more-names-released-from----panama-papers----leak/

[bark]

Times are changing, but the beat is still fishing for the answer. Tell me why the story is true, or not. let the wind blow

and carry the money from the banks to the fish in the ocean. Correct ?

[lvr181]

And those to whom the fingers are pointed will use the well known defense of Sgt Schultz - "I know nothing".

[Tchooptip]

If you read Tchooptip in the released names it's not me it a namesake

[freedom4life]

take their(ours) money and put them in jail where they belong..