More celebrities have popped up in the Mossack Fonseca leak, including Cowell, Sarah Ferguson Jackie Chan, and Heather Mills.
The names come after 11.5 million documents from the Panama-based law firm were leaked to the International Consortium of Investigative Journalists and other news organizations. The data breach named 12 world leaders and 140 other politicians in connection to offshore companies in 21 tax havens. The names included Vladimir Putin, Argentine president Mauricio Macri, soccer superstar Lionel Messi, and the Prime Minister of Iceland.
Documents included emails, share certificates, and passports.
Although there is nothing illegal about moving money offshore, the secrecy of creating shell companies through firms like Mossack Fonseca has been seen as a problem because of lack of transparency. Offshore companies may also be used to evade taxes.
Simon Cowell
Music and television magnate Simon Cowell is the latest celebrity to be included in the data leak. According to The Guardian, he is the sole shareholder of two companies, called Southstreet Limited, set up in February 2007, and Eaststreet Limited, set up in October 2007, both in the British Virgin Islands. The offshore companies were established at a time when Cowell was planning to purchase two plots of land in Barbados.
Both of his companies were never used and are now both inactive.
“The companies were set up, not by my client, but by accountants acting for him as a common means for an overseas investor to purchase property in Barbados,” said Cowell’s spokesman.
