Amitabh, Madonna among celebrities named in Paradise Papers

Amitabh Bachan, Madonna and others were named in the Paradise Papers

The wealthiest of the world were found to own offshore companies after the International Consortium of Investigative Journalists (ICIJ) released a database of around 13.4 million documents revealing over 25,000 companies owned by the rich and influential individuals.

Various celebrities have also been named in the papers. According to Indian media, Manyata Dutt, Sanjay Dutt’s wife and a corporate lobbyist, appeared in the papers.

Amitabh Bachan is back in the news after his name featured in the papers. Bachan was also named in the huge data dump of Panama Papers and is under probe by the Mumbai team of Enforcement Directorate, along with daughter-in-law Aishwarya and other Indians.

Hollywood celebrities and singers are no strangers to offshore companies either. Singer and U2 band member has been found to own shares in a company registered in Malta that invested in shopping center in Lithuania.

Pop star Madonna owns shares in a medical supplies company, ICIJ reported.

What is Paradise Papers?

The latest files have disclosed the financial details of politicians, corporations, and celebrities among others.

The Paradise Papers comprise a major part of documents leaked from the company 'Appleby'.

The documents — obtained by a German newspaper from two companies in Singapore and Bermuda — have made public the data of over 25,000 companies owned by individuals from 180 countries, from 1950 to 2016.

Around 381 investigative journalists from 67 countries worked extensively to bring these facts before the people.

Names of various celebrities had appeared in the Panama Papers leak in 2015. Jackie Chan, Emma Watson, Stanley Kubrick, among others were named in the papers.