Category Archives: Mossack Fonseca

Panama Papers Scandal: Disqualifying Nawaz Sharif for Deception is Fair

Hopefully these proceedings will set a robust process into motion and annihilate Pakistan’s corrupt dynastic politics for good …

Skeletons in the closet have led to the premature demise of Nawaz Sharif’s government yet again and his third premiership has ended in disgrace. But is history repeating itself? The question is especially interesting given that it was “strike three” for Nawaz Sharif. On the third and final occasion, dismissal from the solemn office of prime minister carries the further indignity of disqualification for life. Of course, questions also arise about the exact motivations of the judiciary in disqualifying a democratically elected leader, one who was close to setting a benchmark by becoming the first ever prime minister to complete a full five-year term during Pakistan’s seventy-year history. The ball must get rolling somewhere and the Supreme Court set a powerful precedent for a zero-tolerance approach to the use of deception in politics. However, it remains to be seen whether the high standard adopted by the Supreme Court will be applied across the entire spectrum of Pakistan’s dirty politics which is in dire need of cleansing.

It was an uphill struggle for Nawaz Sharif because he was practising deception in proceedings regulated by the very Supreme Court his PML-N party ransacked in 1997 when photographs of Muhammad Ali Jinnah were desecrated. One problem for the court is that it has many skeletons in its own closet because it has habitually upheld brutal dictatorships applying a perverse “doctrine of necessity”. Rightly or wrongly, the former three-time prime minister has become the second world leader to become the casualty of the Panama Papers, but at least Iceland’s former prime minister Sigmundur Davíð Gunnlaugsson had the dignity to resign promptly. Last year’s disclosures led to the pronouncement of the Panama Papers judgment which established the Joint Investigation Team. Memorably, Khosa J drew unflattering parallels with The Godfather and mocked Nawaz Sharif by recalling the maxim that “behind every great fortune there is a crime”. Continue reading

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Filed under Accountability, Constitution 1973, Corruption, Courts, CPEC, Discussion, Human Rights, Mossack Fonseca, Pakistan Horizon, Panama Papers, PIIA, Politics

Pakistan and the Panama Papers

The Panama Papers are “a blessing in disguise” … Watch Video

The paper trail from Panama to Pakistan is a long and mysterious one and it reveals much about Pakistan’s first family’s vast wealth and international property empire. The leaked documents, which are linked to dozens of venal “super rich” politicians, had even forced Iceland’s prime minister Sigmundur Davíð Gunnlaugsson to resign. Yet Ramón Fonseca argues his firm is the subject of a “witch hunt” and it has done nothing wrong; there is “more dirty money in New York and London,” he says. His claim is backed up by Bill Browder, who made his fortune in Russia but has since converted into an ardent Putin critic; owing to the former KGB head turning Russia into a kleptocracy, he says. Browder argues London is a “brothel” for dirty Russian money. He is equally adamant that Cameron’s anti-corruption drive is just “hot air”. This post captures and recalls our recent Panama Papers discussion.

Financial regulators and tax authorities worldwide have expressed huge interest in the disclosures in the papers because the International Consortium for Investigative Journalism (ICIJ) has created “a searchable database that strips away the secrecy of nearly 214,000 offshore entities created in 21 jurisdictions, from Nevada to Hong Kong and the British Virgin Islands.” Indeed, the gigantic leak of more than 11.5 million financial and legal records is clearly groundbreaking. The documents show the details of the manner in which the world’s political and economic elites have used “crime, corruption and wrongdoing, hidden by secretive offshore companies” to hoodwink tax authorities. Continue reading

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Filed under Constitution 1973, Courts, Criminal Justice, Criminal law, Discussion, Events, Mossack Fonseca, Pakistan Horizon, PIIA, Politics