Pandora Papers: Jackie Shroff's Swiss bank account, New Zealand trust & details of offshore company surfaces

Updated on Oct 04, 2021 08:33 PM IST  |  94K
   
Pandora Papers: Jackie Shroff's Swiss bank account, New Zealand trust & details of offshore company surfaces
Pandora Papers: Jackie Shroff's Swiss bank account, New Zealand trust & details of offshore company surfaces.
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After the explosive Panama Papers, Indian Express has unearthed Pandora Papers - an investigation into the wealth of the rich and famous. In this investigation, names of at least 380 Indians has come to the fore. Of these, 60 prominent personalities and companies have been looked into and Bollywood actor Jackie Shroff is one of them.  

As per the report, details of Jackie Shroff's overseas trusts and accounts has come to the fore. First, he was the prime beneficiary of a trust set up in New Zealand by his mother-in-law. His kids Tiger Shroff and daughter Krishna Shroff were also named as the other beneficiaries. Jackie Shroff reportedly made "substantial contributions" to this New Zealand-based trust which also had Swiss bank account. 

Not just that, an offshore company was also registered in the British Virgin Islands, under this trust. As per the report, the trust was set up in November 2005 by Jackie's mother-in-law Claudia Dutt. Named Media Trust, it was registered with London Fiduciary Trust Company Limited (LFTC) in New Zealand. However, it was terminated in 2013. 

While the amount transactions of this trust are not revealed, the report stated that the trust held a bank account at Clariden Leu Bank, a private Swiss bank. This account was also closed in 2013. As for the offshore company, records state that Media Trust owned Millenstock Holdings Limited, an offshore firm incorporated in the British Virgin Islands, which was struck off the Register of Companies on May 1, 2013. The shares of Millenstock Holdings were allotted to LFTC as the trustee of Media Trust, Indian Express reported. Several thousands of dollars of transactions have been reported. 

The portal reached out to Jackie Shroff's wife Ayesha Shroff and enquire about the trust. She said, "My family and I have absolutely no knowledge of any such Trust. My mother, who passed away over ten years ago, was a Belgian citizen and not a resident of India." 

The Pandora Papers has revealed how trusts have been set up in tax havens such Samoa, Belize, Panama, and the British Virgin Islands, or in Singapore or New Zealand which offer relative tax advantages, or even South Dakota in the US, the biggest economy. 

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Comments
Anonymous : And he claimed he was struggling with money that his son had to get into movies. A load a horse dookie.
REPLY 0 2 weeks ago