ACC to quiz seven linked to Panama, Paradise Paper scandal

FT ONLINE

The Anti-Corruption Commission (ACC) summoned seven individuals whose names have been appeared in the leaks of Panama Papers and Paradise Papers.

A senior official of the commission confirmed the information.

Chairman of the United Group Hasan Mahmud Raza and three directors of the same group -- Khandkar Mainul Ahasan, Akhtar Mahmud and Ahmed Ismail Hossain will face the interrogation of ACC in regard to Panama Papers leak on July 16.

Ericson Johan Andres Wilson of WMV Limited, Mahtabur Rahman of Selcon Shipping Company and Farhan Yakubur Rahman of Intridip Group will have to face the ACC on July 17 for the allegation of money laundering whose names have been appeared in Paradise Papers.

Earlier, chairman of ACC Iqbal Mahmood on June 20 ordered all ACC officials to complete enquiries by June 30 against individuals or entities whose names have been appeared in the leaks of Panama Papers and Paradise Papers.

He made the order in an urgent meeting with the secretary, all director generals, and directors of detective units of the ACC at its head office in Dhaka.

Names of many Bangladeshis have been appeared in Panama, Paradise and other leaks on the murky world of illicit offshore finance.

The names of Bangladeshis, including controversial businessman Moosa Bin Shamsher, have appeared in the much-talked-about Paradise Papers, a leak of more than 13 million confidential files relating to illicit offshore finance.

The documents claimed that Moosa Bin Shamsher registered a company named Venus Overseas in 2010 in Malta, an offshore tax heaven while another Bangladeshi Shahnaz Huda Razzak registered two companies-- Ocean Ice Shipping and Priyam Shipping in Malta between 1999 and 2001, according to the leaked documents.  Alongside, US-based International Consortium of Investigative Journalists (ICIJ) also revealed Bangladeshis' entities and individuals to its leaks database of Panama Papers.

The leaks show that the names of the entities are largely foreign sounding but the addresses used are located in Bangladesh.

The data, collated by the ICIJ, comes from the Panamanian law firm Mossack Fonseca and includes information about companies, trusts, foundations and funds incorporated in 21 tax havens which contains information on almost 320,000 offshore entities that are part of the Panama Papers and the Offshore Leaks investigations.