Panama Papers: Who are the 189 individuals linked to Vietnam with offshore accounts?
This data is obtained from the International Consortium of Investigative Journalism (ICIJ) database:
- Offshore Leaks: current through 2010; leaked from Portcullis Trustnet (now Portcullis) and Commonwealth Trust Limited.
- Panama Papers: current through 2015; leaked from Mossack Fonseca.
There are 19 entities linked to Vietnam in the Panama Papers and Offshore Leaks, of which 15 originate from the British Virgin Islands. Over half, 65 percent, of Vietnam based companies linked to these offshore entities are based in Ho Chi Minh City.
Eight of the 19 entities are still active.
The majority of entities are doing business in real estate.
Not all of the 189 individuals are Vietnamese nationals. In fact, only a half of them have a Vietnamese name or a semi Vietnamese name, the remaining names are mostly Chinese, Korean or Caucasian.
According to ICIJ, intermediary is a canal between an offshore corporation and an offshore service provider. Intermediary is usually a law-firm or a middleman that asks an offshore service provider to create an offshore firm for a client. In Vietnam, SGL Capital Investment Management Ltd has the most connections (8 entities), followed by V-Trac Holdings Ltd with 5 clients.
Source: International Consortium of Investigative Journalism (ICIJ)Read on the original site