Pandora Papers

Alcogal law firm

An ICIJ report focused on the Panamanian law firm of Alemán, Cordero, Galindo & Lee, or Alcogal, saying it was the "law firm of the Latin American elite",[41] having created at least 14,000 shell companies and trusts in tax havens. Alcogal was thus mentioned more than any other offshore provider in the leaked documents.[42]

Africa

• Ivory Coast: Prime Minister Patrick Achi’s office condemned the "malicious use" of information.[45]
• 🇰🇪 Kenya: President Uhuru Kenyatta said the Pandora Papers would be good for transparency, and said he would respond fully when he returned from a trip abroad. He had previously demanded that all civil servants account for their wealth.[46]

Asia

• 🇱🇰 Sri Lanka: President Gotabaya Rajapaksa has ordered the Bribery Commission to probe into Sri Lankans named in the Pandora Papers, which exposed financial fraud globally.[47]
• 🇯🇴 Jordan: The Jordanian government called claims made about King Abdullah II in the leak "distorted", while the King himself denounced what he claimed was a "campaign against Jordan".[48]
• 🇮🇳 India: The Indian Ministry of Finance promised an investigation into the revelations in the leak, and that appropriate legal action would be taken if necessary.[49]
• 🇭🇰 Hong Kong: Chief Executive Carrie Lam refused to comment on the report and whether the current government would follow up on the incident, saying only that the Hong Kong government has a "very robust" declaration of interests system.[50] Leung Chun-ying, the former chief executive named in the document, pointed out that the relevant reports were misleading, claiming that only directly held shares need to be declared, and indirectly held and traded shares do not need to be declared, and he countered that the position of participating in the investigation was a "foreign agent".[51]
• 🇮🇩 Indonesia: Coordinating Minister for the Economy Airlangga Hartarto and Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan are named on the leak. Airlangga denied any knowledge of the transactions by the corporation he owned in the British Virgin Islands. Luhut denied partnership with an Indonesian state-owned oil firm and then changed the company's name.[52]
• 🇱🇧 Lebanon: Lebanese Prime Minister Najib Mikati and former Prime Minister Hassan Diab denied any wrongdoing.[53][54]
• 🇵🇰 Pakistan: Prime Minister Imran Khan said that all citizens mentioned in the Pandora Papers would be investigated and appropriate action taken in case of wrongdoing.[55][56] Ahsan Iqbal, secretary general of the Pakistan Muslim League (N), called for the resignation of Prime Minister Khan.[53]
• 🇲🇾 Malaysia: Prime Minister Anwar Ibrahim called for the content of the Pandora Papers to be discussed in Parliament after it was revealed several officials, including former finance minister Tengku Zafrul Aziz, as well as former finance minister Daim Zainuddin were named in the leaks.[57] Subsequently in Parliament, Minister in the Prime Minister’s Department (Parliament and Law) Wan Junaidi Tuanku Jaafar said that the Government will instruct its agencies to look into claims related to the Papers. In addition, former Finance Minister Daim Zainuddin maintained his business dealings were legitimate.[58][59]
• 🇸🇬 Singapore: The Monetary Authority of Singapore (MAS) will examine information relating to one of the companies named in the report, a Singapore-based firm called Asiaciti Trust. The firm added that the reports were "based on incomplete and sometimes erroneous information", including some illegally obtained.[60][61] Subsequently in Parliament, Minister for Finance Lawrence Wong said that no significant concerns about financial institutions in Singapore were raised by the leaks, although the MAS will engage institutions to see if there is a need to tighten controls. The two companies named in the report, including Trident Trust Company Singapore, are licensed and regulated.[62]

Europe

• 🇬🇧 United Kingdom: Former prime minister Tony Blair and his wife denied any wrongdoing, with the couple's spokesperson saying "the Blairs pay full tax on all their earnings. And have never used offshore schemes either to hide transactions or avoid tax.”[63]
• 🇪🇺 European Union: EU tax commissioner Paolo Gentiloni told the European Parliament that the European Commission will present new legislative proposals to tackle tax avoidance and tax evasion by the end of the year.[64]
• 🇨🇿 Czech Republic: The Czech National Police promised an investigation into any citizens mentioned in the Pandora Papers, including ex-Prime Minister Andrej Babiš.[65] Babiš denied any wrongdoing, and alleged that the timing and/or content of the leak was aimed at influencing the upcoming legislative election.[66]
• 🇮🇪 Ireland: Tánaiste Leo Varadkar stated that the Irish government and legislature would move immediately to close any loopholes in tax or company law that allow individuals and businesses to use the country as an offshore location.[67]
• 🇷🇺 Russia: President Putin's spokesman Dmitry Peskov dismissed the accusations against Putin, who is not directly named in the Pandora Papers, as "unsubstantiated claims" after several individuals linked to Putin were mentioned in the leak.[68] Russian Foreign Ministry spokeswoman Maria Zakharova said that the United States was "the largest" tax haven and "billions of dollars in South Dakota belong to those accused of financial crimes."[53]
• 🇺🇦 Ukraine: President Volodymyr Zelensky's office denied any wrongdoing after he was named in the leak.[69] Ex-journalist and Volodymyr Zelensky's associate Serhiy Leshchenko said "there is no subject for a scandal" and "in Ukraine, offshore companies are so widespread that the owners of stalls already have an offshore company".[70]

North America

• 🇲🇽 Mexico: President Andrés Manuel López Obrador stated that he would push for an investigation into any Mexican nationals named in the leak.[71]
• 🇺🇸 United States: The United States Department of State announced in 2021 that it would review the documents published in the Pandora Papers.[72] According to the leak, trusts in several U.S. states[73] — including South Dakota,[74][75][76][77] Florida, Delaware, Texas, and Nevada — were sheltering at least US$1 billion for offshore clients.[78] In 2024, the IRS was granted permission to serve a John Doe summons to Trident Trust Group in order to collect information about any clients who may have used their services for the purpose of tax evasion.[79]

Central America and Caribbean

• 🇩🇴 Dominican Republic: President Luis Abinader denied any wrongdoing after being named in the leak, adding that he "has been completely separated from the administration and management of all the companies controlled by the family, incorporated in the Dominican Republic or abroad" since he assumed power in August 2020.[80]
• 🇵🇦 Panama: The Procuraduría General de la Nación (PGN), a government agency, was reported to be analyzing the contents of the leak, seeking foundations for a criminal investigation of those mentioned in the leak.[81][82] The Colegio Nacional de Abogados (CNA), a local trade association, stated that Panamanian law firms had offered their services lawfully, the leak does not reflect reality, threatens the rule according to higher law, law firms and their customers around the world enjoy confidentiality which may only be breached by a court order, and the leak poses a threat to Panamanian law firms as it presents them as allies of criminals.[83][84]
• Alcogal, one of the largest sources of leaked documents, stated that many people named in the leak had never been its clients, the ICIJ had divulged inexact and outdated information and a wrong image of their law firm, already decided who was guilty, and Alcogal considers themselves part of the solution and are not infallible. The Panamanian government sent the ICIJ a letter through law firm Benesch, Friedlander, Coplan & Aronoff LLP, stating whatever image the ICIJ had of Panama in 2016 is out of date, and the Panamanian government is willing to start a dialogue to avoid further great damage to Panama, as happened during the Panama Papers. The government argued that the name "Panama" became linked to offshore companies and money laundering due to efforts from the ICIJ, despite not being the main tax haven or destination for tax structuring contrary to what the Tax Justice Network said, the ICIJ's use of "Panama Papers" caused global media to associate Panama with tax havens, and listed measures the government had taken after the Panama Papers.[85][86][87] They also announced the suspension of 50% of all companies registered in Panama, stating the aim to curb sensationalist coverage and counteract any negative consequences resulting from scandals where the country may be involved by others. The ICIJ was told to be cautious and avoid references to Panama without "informative justification". The government will supervise all subjects registered in Panama mentioned in the leak to protect the country's image and reputation through the newly created Superintendencia de Sujetos no Financieros, and the DGI will begin taxing procedures to all natural and juridical persons in the leak and is willing to exchange information with other jurisdictions.[88][89][85][90] Alcogal, the Panamanian law firm protagonist of Pandora's papers, announced that it has created a transparency department in order to reinforce its obligations in the matter and its commitment to a regulation recently approved by the National Government.[91]

South America

• 🇨🇱 Chile: President Sebastián Piñera denied having hidden assets in tax havens.[27]
• 🇪🇨 Ecuador: President Guillermo Lasso denied any wrongdoing.[45] He said that he voluntarily cooperated with the Pandora Papers investigation, and that regarding his naming in the leak, "most of the societies mentioned were legally dissolved in the past, and I have no link with those that may still exist".[92]
• 🇺🇾 Uruguay: The National Secretariat for the Fight against Money Laundering and Terrorism Financing of the Presidential Office of Uruguay started ex officio to research the case to find out about the roles of law firms based in Montevideo aimed to provide offshore entities to clients worldwide as intermediaries of Alcogal.[93]