Miqati Named in the Pandora Papers
The name of Lebanon's billionaire Prime Minister Najib Miqati has appeared in the Pandora Papers -- a massive trove of leaked documents showing how the world's elite is using tax havens and offshore and shell companies to stash assets worth hundreds of millions of dollars.
The documents show that Miqati, a businessman who formed a new government last month, owns a Panama-based offshore company that he used to buy property in Monaco in 2008 worth more than $10 million.
Miqati's son Maher was a director of at least two British Virgin Islands-based companies, according to the report.
Miqati's media advisor, Fares Gemayel, declined to comment. He referred to Maher Miqati's response to the journalistic consortium, framing it as a common practice for people living in Lebanon to use offshore companies "due to the easy process of incorporation." Maher Miqati denied any intent to evade taxes.
Source: Associated Press, Agence France Presse
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