Tuesday, April 05, 2016

Xi family involved with #PanamaPapers

Among the names figuring in the leak included Chinese President Xi Jinping's brother-in-law Deng Jiagui. In September 2009, according to the ICIJ, Deng became the sole director and shareholder of two British Virgin Islands-based "shelf companies" in Mossack Fonseca's inventory: Best Effect Enterprises Limited, and Wealth Ming International Limited.
"Mossack Fonseca helped Deng obtain a "chop" – a carved metal or stone seal often used by Chinese businesses to validate documents in lieu of signatures – for Best Effect Enterprises. It is unclear what the two companies were used for. At the time, Xi Jinping was one of nine men on the all-powerful Politburo Standing Committee, the body that rules China. By the time Xi was named general secretary of the Chinese Communist Party in 2012 and the country's president in 2013, Deng's two BVI companies were dormant," the ICIJ said.
Former Chinese Premier Li Peng's daughter, Li Xiaolin; a grandchild of high-ranking Chinese Communist official Jia Qinglin; and a business partner of former Chinese politician Bo Xilai's wife, Patrick Henri Devillers were also been identified in the leak.

No comments: