The unprecedented leak of millions of files from Panama law firm Mossack Fonseca recently hit the headlines, inculpating a number of high profile people including 143 politicians of which 12 are world leaders, such as Russian President Vladimir Putin and Pakistan’s Prime Minister Nawaz Sharif. Over 11 million documents were supplied to the German newspaper Süddeutsche Zeitung, which revealed the use of offshore companies in order to minimise tax payments. A number of law firms have also been named including Simmons & Simmons in a 2006 document, which cited the firm as legal advisors from Blairmore Holdings, an investment fund which has its offices registered in Panama. British Prime Minister Davis Cameron’s late father Ian Cameron, is named as a director of Blairmore Holdings, inculpating the British Prime Minister by association.
Holman Fenwick Willan (HFW) advised UAE president Khalifa bin Zayed bin Sultan Al Nahyan who ranks within the top 50 richest people in the world. HFW is said to have advised Al Nahyan on his dealings within the UK who is named as the beneficial owner of around 30 businesses created in the British Virgin Islands. A number of European firms are also inculpated including Spanish firm Gómez-Acebo & Pombo.