What Are the Pandora Papers?

What Are the Pandora Papers?

In 2021, the International Consortium of Investigative Journalists (ICIJ) released nearly 12 million leaked documents known as the Pandora Papers. Data revealed the hidden and sometimes unethical or corrupt dealings of the global wealthy and elite—including prominent world leaders, politicians, corporate executives, celebrities, and billionaires. It was larger than the group's previous Panama Papers and Paradise Papers leaks.

Information Revealed

In October 2021, the ICIJ released the Pandora Papers to the media and general public, consisting of nearly 12 million files filling almost 3 terabytes of data. The International Consortium of Investigative Journalists (ICIJ) worked with more than 150 media organizations.

The Pandora Papers uncover a complex web of tax havens, shell corporations, and offshore accounts that hide the true ownership of billions of dollars of assets of politicians, celebrities, business people, and criminals. The documents dated back several decades from 14 offshore financial service providers. The papers included offshore interests and tax sheltering schemes.

According to the ICIJ, the people exposed included “35 current and former world leaders, more than 330 politicians and public officials in 91 countries and territories, and a global lineup of fugitives, con artists and murderers.”

Who Was Exposed?

• Famous entertainers Elton John, Jackie Chan, Bono, Julio Iglesias, and Shakira were named. Their attornies claimed that no wrongdoing occurred.
• Ringo Starr, the former Beatles drummer created two companies in the Bahamas that were used to buy real estate, including a “private dwelling in Los Angeles.” He also established at least five trusts in Panama, three of which hold life insurance policies on behalf of his children, and another trust keeps earnings from royalties and live performances.
• The Qatari ruling family purchased two of England’s priciest mansions while avoiding taxes.
• Jordan’s King Abdullah II secretly owned 14 luxury homes in the United Kingdom and the United States worth more than $106 million total. Jordan is among the top recipients of foreign aid, receiving more than $1.6 billion from the United States alone in 2023.
• The former prime minister of the Czech Republic failed to disclose an offshore investment company used to purchase a lavish estate on the French Riviera for $22 million.

ICIJ Leaks

The ICIJ is a global network headquartered in Washington, D.C. consisting of nearly 300 investigative journalists and more than 140 media partners, known to release groundbreaking reports such as:

Panama Papers: This leak in 2016 earned the group the Pulitzer Prize. The Panama Papers exposed a vast network involving tax havens established by individuals from more than 200 countries.

Paradise Papers: This leak in 2017 included 13.4 million documents and 1.4 terabytes of data that exposed complex international tax avoidance schemes composed of loan agreements, financial statements, emails, trust deeds, and other paperwork from a Bermuda-based law firm called Appleby. The Paradise Papers also included over 500,000 documents from Singapore-based Asiaciti and 6 million documents from company registries in 19 jurisdictions.

The Bottom Line

The International Consortium of Investigative Journalists (ICIJ) investigates claims of global tax fraud and illegal activity. The group leaked the Pandora Papers in 2021 to expose global politicians and wealthy elite for tax avoidance and corruption.