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Pandora Papers Highlight How Wealthy Use Offshore Companies

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WATCH: An investigation uncovered millions of documents detailing how rich and politically-connected individuals across the globe use offshore companies to avoid taxes and hoard wealth. International Consortium of Investigative Journalists’s Scilla Alecci shares the details.(Source: Bloomberg)

A sprawling investigation by an international consortium of journalists and news organizations uncovered millions of documents detailing how rich and politically-connected individuals across the globe use offshore companies to avoid taxes and hoard wealth.

The report published Sunday by the International Consortium of Investigative Journalists linked world leaders including the King of Jordan, Kenyan President Uhuru Kenyatta and former British Prime Minister Tony Blair to entities registered in locales including Panama and the British Virgin Islands that allowed them to hide their ownership of vast assets.