Black wealth: Paradise Papers leak has 714 Indian names

News Network
November 6, 2017

New Delhi, Nov 6: A year after the Panama Papers, a new set of data taken from another offshore law firm, Appleby, could expose the hidden wealth of individuals, including Indians, and show how corporations, hedge funds and others may have skirted taxes.

Among the 180 countries represented in the data (being dubbed Paradise Papers), India ranks 19th in terms of the number of names, a report on Indian Express website said.

In all, there are 714 Indians in the tally, it reported. Interestingly, an Indian firm figures as Appleby's second-largest client globally, with at least 118 different offshore entities, it said.

The disclosure comes two days before the NDA government marks the first anniversary of the demonetization drive on November 8, which the Centre will observe as Anti-Black Money Day.

The leaked documents also show that US commerce secretary Wilbur Ross, the Trump administration's point man on trade and manufacturing policy, has a stake in a firm that does business with a gas producer partly owned by the son-in-law of Russian l President Vladimir Putin.

According to records obtained by the International Consortium of Investigative Journalists (ICIJ), Ross is an investor in Navigator Holdings, a shipping giant that counts Russian gas and petrochemical producer Sibur among its major customers. Putin's son-in-law Kirill Shamalov once owned over 20% of the company, but now holds a much smaller stake.

The latest revelations come out of an investigation led by the ICIJ, which was provided data collected in an alleged hack in 2016 of Appleby Global Group Services, a Bermuda firm providing legal services for hedge fund managers and corporations.

The leak also revealed that millions of pounds from the private estate of Britain's Queen Elizabeth II have been invested in offshore tax haven funds.

Around £10 million ($13 million, EUR11.3 million) of the Queen's private money was placed in funds held in the Cayman Islands and Bermuda.

The investments, which were entirely legal, were made through the Duchy of Lancaster, which provides the monarch with an income and handles investments of her vast estate and remain current, the media outlets said.

There is no suggestion that the Queen's private estate acted illegally or failed to pay any taxes due. But the leaks may raise questions over whether it is appropriate for the British head of state to invest in offshore tax havens.

Reporters working with the ICIJ, which was also behind the release of the Panama Papers, are reviewing the millions of pages of documents that reveal strategies used to hide assets and avoid taxes.

Among the individuals and companies expected to be cited in the articles are Glencore Inc and Yuri Miltner, an early backer of Facebook.

Appleby has said its data was breached and that it investigated issues raised by journalists and found no evidence of wrongdoing.

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News Network
November 29,2025

DKSsiddu.jpg

New Delhi: Karnataka chief minister Siddaramaiah and deputy CM DK Shivakumar on Saturday put up a dramatic display of unity at a closely watched joint press briefing, firmly dismissing weeks of speculation about a power-sharing tussle within the Congress. With the high command nudging both leaders to sit together and settle the dust, the meeting became a political spectacle, ending with the duo declaring that there was “no confusion, no differences.”

Calling the reports of a rift “manufactured confusion,” Siddaramaiah said the talks had gone smoothly, even joking about their breakfast. “Breakfast was very good. All three of us enjoyed it,” he said. “We want to end this confusion once and for all. For local elections and for 2028, our mission is clear — Congress must return to power. There is no difference between me and DKS, not now, not before.”

He blamed the media for fuelling rumours and reiterated absolute adherence to the party leadership. “From tomorrow, let there be no confusion. What the high command says, we will follow.”

Siddaramaiah also assured that the Assembly session starting December 8 would run smoothly and vowed that Congress would take on the BJP and JD(S) “together.”

Shivakumar echoed the chief minister word for word, stressing loyalty and discipline. “People have given us a massive mandate. It is our duty to deliver,” he said. “This government was formed under Siddaramaiah’s leadership. We both have complete trust in the high command. If they tell me to wait, I will wait.”

He added that the two leaders had discussed strategy for the 2028 Assembly elections. “Whatever the CM says, I agree. We are loyal soldiers of the party. The party may be facing challenges nationally, but we will keep it strong in Karnataka.”

Shivakumar also said Siddaramaiah would soon visit his home for lunch or dinner — another symbolic gesture meant to underline their unity.

Both leaders later posted on social media describing the breakfast meeting as “productive” and focused on “Karnataka’s priorities.”

The BJP, however, rejected the show of camaraderie as “pure bunkum,” accusing Congress of trying to paper over an internal power struggle. But Siddaramaiah and Shivakumar insisted their united front would continue — and that there was “no confusion” within the state leadership.

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News Network
November 27,2025

Bengaluru, Nov 27: Karnataka Chief Minister Siddaramaiah’s camp is reportedly on alert as the Congress leadership tussle in the state intensifies, particularly amid speculation over the potential promotion of Deputy Chief Minister D.K. Shivakumar. Siddaramaiah is said to be in a “wait-and-watch” mode after admitting to “confusion” earlier this week and urging the party to “put a full stop” to it.

Sources say his supporters are ready to act if senior leaders — including party chief Mallikarjun Kharge, Sonia Gandhi, and Rahul Gandhi — give any indication of backing Shivakumar. If the party insists on a leadership change, Siddaramaiah’s camp has a list of alternatives, underscoring the deep rift between the two leaders. One possible candidate is Home Minister G. Parameshwara, a Siddaramaiah loyalist and influential Dalit leader.

The strategy was reportedly finalized at a meeting led by PWD Minister Satish Jarkiholi, another Siddaramaiah supporter, who stressed that Delhi leaders need to resolve the issue. Kharge and the Gandhis are expected to meet soon, after which Siddaramaiah and Shivakumar may be summoned to Delhi.

Shivakumar has largely stayed non-confrontational, publicly endorsing Siddaramaiah and downplaying speculation about his own ambitions. However, he has made pointed comments emphasizing the importance of honoring promises, directed at Siddaramaiah.

The feud traces back to the 2023 state election, when Siddaramaiah was chosen as Chief Minister while Shivakumar, who led the party’s campaign, was made Deputy CM and state party chief — a departure from the Congress’ usual “one post per person” rule.

There were also hints of a prior understanding that Siddaramaiah would step down midway through the term. As the halfway mark passed last week, Shivakumar-aligned lawmakers have ramped up pressure on the party for a leadership change, with Shivakumar himself hinting at stepping down as state party chief to pursue the top job.

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News Network
November 26,2025

Mangaluru, Nov 26: Mangaluru East police have registered a case following a sophisticated online fraud where a 57-year-old local resident was allegedly cheated out of ₹13.4 lakh after being targeted on Facebook.

The scam began in February when the complainant, while browsing Facebook reels, was contacted by a woman identifying herself as "Lillian Mary George" from London. After establishing a chat relationship, the woman claimed she would visit India in November and bring a significant sum of money.

The trap was sprung on November 15, when the victim received a call from a woman named "Sonali Gupta," who claimed Lillian had arrived at Mumbai International Airport but was detained by customs. The fraudsters convinced the man that Lillian was carrying £25,000 (about ₹26 lakh) in traveller’s cheques and 1 kg of gold (valued at around ₹30 lakh).

Under the pretense of clearing these items, the victim was asked to make numerous online transfers between November 15 and 18 for various bogus charges, including:

•    "Pounds exchange registration"
•    "Customs declaration issues"
•    "Discount charges"
•    "Money-laundering charges"

Believing the fictitious story, the complainant transferred the cumulative sum of ₹13.4 lakh to various bank accounts provided by the fraudsters. He realised he was cheated when the culprits later promised a refund within two days but stopped answering his calls. The Mangaluru East police are now investigating the case, which highlights the continuing threat of transnational cyber fraud using social engineering and promises of fictitious wealth.

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