After Panama Leaks Now List of Pakistanis in Bahamas Leaks


bahama-leaksJNN 23 Sept 2016 Karachi  – While the Panama Papers leaks, which exposed over 400 Pakistanis linked to offshore companies registered in tax havens some six months ago, still remain to be investigated, the latest publication by the International Consortium of Investigative Journalists (ICIJ) has named another 150 Pakistanis who own shady firms in Bahamas.

The latest data leak carries 1.3 million files which provide names of directors and some owners of more than 175,000 Bahamian companies registered between 1990 and early 2016. Among them, around 150 Pakistanis were also identified as directors of nearly 70 companies.

Obaid Altaf Khanani, the son of Pakistan’s notorious money changer Altaf Khanani who is currently in the custody of US authorities on terror financing and money laundering charges, is on the top of the list.

Jamaat-e-Islami’s leader Professor Khurshid Ahmed is one of the prominent names in the leaks. However, while responding to the questions forwarded by an ICIJ partner journalist, he said he was not financially involved, but only served as an employee.

The Bahamas-based company linked to Professor Khurshid Ahmed was banned by the United Nations and the United States, after 9/11 attacks for suspicious dealing.

Popular Afghan businessman Ahmed Ratab Popel, who is also being investigated for narcotics smuggling and corruption, also used a Pakistani address to register a company in Bahamas. Popel is the cousin of former Afghan President Hamid Karzai and is also considered a close aide of Mullah Abdul Zaeef –Taliban regime’s former ambassador to Pakistan.

Lahore High Court judge Mohammed Farrukh Irfan’s again surfaced as a director of a Bahamas-based firm, after his name was mentioned in the Panama Papers leak. Irfan transferred his offshore company to his daughter, one year after he was sworn as LHC judge.

Samina Durrani, the mother-in-law of Punjab Chief Minister Shahbaz Sharif, also registered offshore firm in Bahamas, however, the ownership of the company has been kept anonymous due to certain unknown reasons.

Former Health Minister Naseer Khan’s son named Gibran also owns a Bahamian entity. His name was also mentioned in the Panama Papers.

Just like Panama Papers leaks, most of the Pakistanis owning shady companies in Bahamas are also businessmen. Their businesses range from financial services to steel mills, textile industry to insurance corporations, chemicals to security services, and construction to asset management.

Some prominent names included Raza, Hasnain, Rafique, Hyder, Imran, Aun and Sajjad of a single business family which has six offshore companies on Bahamas Leaks.

The owner of Captain PQ Chemical Industries and director of Standard Chartered Bank, Spenta Kandawalla, is also a director of the Bahamian firm.

According to media reports, among those named in the Bahamasdocuments include Jibran Khan, the son of Mohammad Naseer Khan, a former health minister of Pervez Musharraf government; former Senator Professor Khurshid Ahmed; Mohsin Abu Bakar Sheikhani, a tycoon of the construction industry; and Tehmina Durrani’s mother Samina Durrani.

Obaid Altaf Khanani, son of money-changer Altaf Khanani also reportedly owns offshore companies in Bahamas.

The Bahamas is a constellation of 700 islands, many smaller than a square mile. It is one of a handful of micro nations south of the United States whose confidentiality laws and reluctance to share information with foreign governments gave rise to the term “Caribbean curtain.”

Most of these companies were registered between 1990 and 2011, according to the latest documents leaked by the International Consortium of Investigative Journalists (ICIJ). Over 150 Pakistanis have been named in what is called the Bahamas leaks, owning offshore companies.

In total, the new cache provides names of politicians and others linked to more than 175,000 Bahamian companies that were registered between 1990 and 2016. Since the majority of companies had been registered in 1990s, the Federal Board of Revenue would not be in a position to take any action against them, even if they evaded taxes.

According to income tax laws, the FBR can open cases of tax evasion by a filer for a period of up to five years while in case of a non-filer, the maximum threshold is 10 years.

In April, the ICIJ had leaked documents of Panama law firm, Mosack Fonseca, of companies registered in tax havens. The cache named over 600 Pakistanis. Of them, the FBR had identified 444 persons so far. Among them, 150 persons owned over 600 companies in Pakistan, tax authorities have yet to take any meaningful action against them.

The state institutions that were supposed to initiate an investigation into the Panamagate scandal refused to shoulder the responsibility during a meeting of the Public Accounts Committee on Tuesday.

According to the information available on the ICIJ website, the Exxon Mobil Pakistan LNG was incorporated in June 2011 in Bahamas through Harry B Sands, Lobosky.

The Gem Pakistan Power Partners Limited Company was incorporated on April 27, 1994 in British Virgin Islands and is linked to Guernsey. The Pakistan Powerpack (UK) Limited was incorporated in British Virgin Islands on August 8, 1994. The Hunt International Petroleum Company Pakistan Limited was incorporated in Bahamas on March 15, 1990.

In mid 1990s, the PPP government had implemented a new power policy, allowing independent power producers to establish businesses.

The Heritage Oil Pakistan Sanjawi Limited was incorporated on November 22, 2007, in British Virgin Islands. This company is still active. The Sanjawi group has huge stakes in Pakistan’s oil and gas sector.

The Mtranzact Pakistan Limited was incorporated on November 22, 2007. Its jurisdiction remains undetermined. Its status is dead now.

The Esso Exploration and Production Pakistan Limited was incorporated in May 1992 and was struck off in 1997. It was connected through one intermediary and registered in Bahamas.

The Pakistan Japan Petrochemical Limited was incorporated in 1991 through one intermediary. However, it was struck off in August 2002. The company was registered in Bahamas.

The KERR-MCGEE Pakistan Limited was incorporated in July 1991 through one intermediary. This company was also struck off in January 1996. The VeeTee Pakistan Holdings Corporation was incorporated in April 1993 through one intermediary. This company was also struck off in February 2015. This company was also registered in Bahamas.

The Union Texas Pakistan Power Limited was incorporated in Bahamas in June 1996 through one intermediary. The Pakistan Mest and Dairy Processing Limited 529 was incorporated in Bahamas in October 1996, but was struck off in January 2000. The Tel Tran International Pakistan Limited was incorporated in Bahamas in July 1999 but was struck off in April 2003.

The Islamabad International Limited Company was registered in Bahamas in June 2013 through the Royal Bank of Canada Trust Company (BAH). The Karachi Holdings Limited was incorporated in September 1994 through Santander Bank and trust (Bahamas) Ltd

Mohsin, Arshad, Amjad, Abid and Ahmed, Salim, Hamida, Enam, Shaukat, Shafqat, Sultan, Irshad, Yasmeen, Farhana, Danus and Naushad are other notable names of the businessmen.

The Bahamas Leaks also carried several international names as well, i.e. former EU Competition Commissioner Neelie Kroes, former Columbian minister for mines and energy Carlos Cabellero, the son of former Chilean dictator Augusto Pinochet, Argentina’s president Mauricio Macri and his father Francisco and brother Mariano, and UK foreign secretary Amber Rudd.

 

List of Pakistani Persons who are Involved in Bahamian Companies :

 

Reg. Date

Year Owner-Director City
1/9/2016 2007 Sultan Karachi
1/9/2016 2007 Irshad Karachi
1/9/2016 2007 Yasmin Karachi
1/9/2016 2007 Farhana Karachi
1/12/2016 2011 Muhammad Saleem Karachi
1/12/2016 2011 Muhammad Asif Karachi
1/12/2016 2011 Muhammad Shafi Karachi
1/12/2016 2011 Muhammad Iqbal Karachi
1/12/2016 2011 Muhammad Qasim Karachi
1/12/2016 2006 Akram Mohyuddin Lahore
1/21/2016 2015 Ali Islamabad
1/21/2016 2004 Sohail Ahmed Karachi
1/24/2016 2007 Syed Muhammad Islamabad
2/1/2016 2012 Khurram
2/1/2016 2012 Sheraz
2/12/2016 2007 Muhammad Hanif Karachi
2/12/2016 2007 Rubina Karachi
2/12/2016 2007 Muhammad Owais Karachi
2/13/2016 2004 Ahmed Rateb Islamabad
2/13/2016 2004 Rashid
2/19/2016 2008 Arif Noor Mohammad Karachi
2/19/2016 2008 Noor Arif Karachi
2/19/2016 2008 Abid Mohammad Karachi
2/19/2016 2008 Naveed Karachi
2/24/2016 1995 Rafiq Karachi
2/29/2016 2000 Sheikh Arshad Javed Karachi
3/1/2016 2000 Raza Khan Islamabad
3/1/2016 2000 Kamyab Islamabad
3/7/2016 2005 Naveed Hussain Karachi
3/19/2016 2008 Iqbal Karachi
3/19/2016 2008 Abdul Rauf Karachi
3/19/2016 2008 Yasir Karachi
3/19/2016 2008 Askari Asghar Karachi
3/26/2016 2004 Khawar Lahore
3/26/2016 2004 Shahzad Aziz Lahore
3/26/2016 2004 Javed Lahore
3/26/2016 2004 Izzat Lahore
3/26/2016 2004 Javed Ahmed Lahore
3/26/2016 2004 Izzat Majeed Lahore
4/6/2016 1992 Mohammad Siddique Karachi
4/6/2016 1992 Makhdoom Ali Karachi
4/6/2016 1992 Mohammad Shoaib Karachi
4/6/2016 1992 Abbas Abdullah Karachi
4/6/2016 1992 Zehra Karachi
4/6/2016 1992 Zahida Karachi
4/8/2016 2008 Salim Karachi
4/8/2016 2008 Hamida Karachi
4/8/2016 2008 Marzia Karachi
4/10/2016 2008 Khurram
4/10/2016 2008 Sarah
4/11/2016 1996 Mohammad Hyder Karachi
4/11/2016 1996 Mohammad Asad Karachi
4/11/2016 1996 Mohammad Siddique Karachi
4/11/2016 1996 Makhdoom Ali Karachi
4/11/2016 1996 Zahida Karachi
4/11/2016 1996 Abbas Abdullah Karachi
4/11/2016 1996 Mohammad Shoaib Karachi
4/11/2016 1996 Zehra Karachi
4/11/2016 1996 Imran Karachi
4/11/2016 1997 Prof. Khurshid Ahmed Islamabad
4/14/2016 2000 Muhammad Farrukh Lahore
4/14/2016 2000 Maria Farrukh Lahore
4/15/2016 2010 Sheikh Arshad Karachi
4/15/2016 2010 Amjad Karachi
4/15/2016 2010 Abid Karachi
4/15/2016 2010 Ahmed Amjad Karachi
4/19/2016 2006 Mohsin Abu Baker Karachi
4/19/2016 2006 Sohail Mumtaz Karachi
4/21/2016 2010 Gaffar Karachi
4/26/2016 2007 Nadeem Karachi
4/26/2016 2007 Khalid Karachi
4/29/2016 2008 Yasir Karachi
4/29/2016 2008 Askari Asghar Karachi
4/30/2016 2009 Muhammad Ali Karachi
5/6/2016 2004 Muhamamd Usman Karachi
5/6/2016 2004 Muhammad Ikhlaq
5/6/2016 2004 Masood Pervez
5/13/2016 1991 Abdullah Jan Bahawalpur
5/13/2016 1991 Shahwez Akhtar Bahawalpur
5/16/2016 2002 Samina Peshawar
5/18/2016 2006 Asif Riaz Karachi
5/18/2016 2006 Gohar Ejaz Lahore
5/18/2016 2006 Mohammed Saleem Karachi
5/18/2016 2006 Mohammad Altaf Karachi
5/18/2016 2006 Muhammad Shafi Karachi
5/24/2016 2012 Shafqat Lahore
5/24/2016 2012 Enam Lahore
5/24/2016 2012 Shaukat Lahore
5/30/2016 2006 Syed Muhammad Ali Karachi
5/30/2016 2006 Arsalan
5/30/2016 2006 Muhammad Usman Karachi
6/2/2016 1998 Ameed Karachi
6/2/2016 1998 Naveed Karachi
6/2/2016 1998 Ateed Karachi
6/4/2016 1998 Max Rudolf
6/4/2016 1998 Shaheena Malik
6/5/2016 2008 Nadeem Khalid Karachi
6/12/2016 2003 Nadeem Karachi
6/12/2016 2003 Khurram Karachi
6/15/2016 1992 Mohammad Siddique Karachi
Reg. Date Year Owner-Director City
6/15/2016 1992 Makhdoom Ali Karachi
6/15/2016 1992 Muhammad Hyder Karachi
6/15/2016 1992 Zahida Karachi
6/15/2016 1992 Abbas Abdullah Karachi
6/15/2016 1992 Mohammad Shoaib Karachi
6/15/2016 1992 Zehra Karachi
6/16/2016 2011 Kamran Karachi
6/16/2016 2011 Imran Karachi
6/16/2016 2011 Abdul Jabbar Karachi
6/22/2016 2011
6/22/2016 2005 Muhammad Ahmed Karachi
6/22/2016 2005 Muhammad Ahmed Karachi
6/22/2016 2005 Muhammad Ahmed Karachi
7/14/2016 2005 Muhammad Amin Karachi
7/14/2016 2005 Muhammad Hanif Karachi
7/14/2016 2005 Muhammad Rauf Karachi
7/14/2016 2005 Muhammad Ayub Karachi
7/14/2016 2005 Muhammad Jawad Karachi
7/14/2016 2005 Muhammad Ahmed Karachi
7/17/2016 2006 Aun Mohammad Karachi
7/17/2016 2006 Sajjad Karachi
7/26/2016 2007 Muhammad Irshad
7/26/2016 2007 Muhammad Taimoor
7/27/2016 1990 Imran Karachi
7/27/2016 1990 Ali Raza Karachi
7/27/2016 1990 Hasnain Karachi
7/27/2016 1990 Murtaza Karachi
7/27/2016 1990 Salman Karachi
7/27/2016 1990 Munawar Karachi
7/27/2016 1990 S. M. Hayder Karachi
8/3/2016 2005 Muhammad Zakaria Karachi
8/3/2016 2005 Muhammad Irfan Karachi
8/3/2016 2005 Muhammad Saleem Karachi
8/3/2016 2005 Muhammad Qasim Karachi
8/3/2016 2005 Asad Karachi
8/11/2016 2009 Obaid Altaf Karachi
8/16/2016 2004 Muhammad Jawed Karachi
8/16/2016 2004 Muhamamd Saleem
8/21/2016 2003 Dr. Tariq Mehmoood
8/21/2016 2003 Nur Banu
8/21/2016 2003 Ikramullah
8/21/2016 1997 Gohar Ullah Hyderabad
8/21/2016 1997 Asad Hyderabad
8/21/2016 1997 Humayun Hyderabad
8/21/2016 1997 Tanwir Hyderabad
8/31/2016 2006 Asif Riaz Karachi
8/31/2016 2006 Saqib Haroon Karachi
8/31/2016 2006 Muhammad Shafi Karachi
9/1/2016 1997 Ali Rawalpindi
9/1/2016 1997 Raazia Ajmal Rawalpindi
9/1/2016 1997 Fatima Rawalpindi
9/7/2016 2004 Naushad Haroon Karachi
9/10/2016 2004 Sohail Ahmed Karachi
9/10/2016 2004 Khalid Mahmood Karachi
9/10/2016 2004 Naila Mahmood Karachi
9/20/2016 2007 Sheikh Nadeem Zafar Lahore
9/20/2016 2007 Shafqat Rashid Karachi
9/20/2016 2007 Quaid Johar Karachi
9/20/2016 2007 Raheel Mazhar Karachi
9/20/2016 2007 Ahmed Sheikh Lahore
9/21/2016 2004 Muhammad Hussain Karachi
9/29/2016 2003 Abdullah Jan Bahawalpur
9/29/2016 2003 Shahwez Akhtar Bahawalpur
9/30/2016 1998 Sajjad
9/30/2016 1998 Shahab
10/10/2016 1997 Mohamed Gibran Lahore
10/10/2016 1997 Mohamed Zeeshan Lahore
10/10/2016 1997 Mahvash Lahore
10/14/2016 2005 Karim Karachi
10/14/2016 2005 Danus Karachi
10/14/2016 2005 Spenta Karachi
11/5/2016 2008 Sohail Ahmed Karachi
11/10/2016 2004 Muhammad Munaf Karachi
11/10/2016 2004 Muhammad Amin Karachi
11/29/2016 2004 Muhammad Aslam Karachi
11/29/2016 2004 Muhammad Irshad Karachi
11/29/2016 2004 Mohammed Zafar Karachi
11/29/2016 2004 Moosa Karachi
11/29/2016 2004 Abdul Jabbar Karachi
11/29/2016 2004 Imran Karachi
12/11/2016 2003 Sultan Karachi
12/11/2016 2003 Irshad Karachi
12/11/2016 2003 Yasmin Karachi
12/11/2016 2003 Farhana Karachi
12/23/2016 2003 Khalid Karachi

 

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One thought on “After Panama Leaks Now List of Pakistanis in Bahamas Leaks

  1. Pingback: After Panama Leaks Now List of Pakistanis in Bahamas Leaks » ALQAIM.TV

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