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Tuesday, 10 May 2016 - 13:26
Chairman of Avant Gaurd listed in Panama papers; Anti-Corruption Front demands an investigation
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The Anti-Corruption Front demands an investigation into other Sri Lankans listed.

Data from the Panama Papers was released online last night, information linking 60 Sri Lankans who have maintained offshore secret accounts with the Mossack Fonseca have been revealed. 

The first list of offshore accounts maintained by the Mossack Fonseka was leaked by the International Consortium of Investigative Journalists last night.  The confidential list includes two hundred thousand names of individuals, businesses and other entities who have been maintaining offshore accounts with the Mossack Fonseca law firm.

The latest leak has exposed 19 Sri Lankans and local addresses of 22 accounts and the financial and service institutions with which these individuals and entities have engaged in transactions. 

Meanwhile, the names of four individuals who were shareholders of Avant Garde Company are included in the list.

AvantGuard took center stage during the controversial floating armory deal.

In addition, shareholders of several local business entities including hotels, jewellery shops and garment factories are also in the latest list that has been disclosed.

The International Consortium of Investigative Journalists said that it cannot definitively state that all those names leaked in the latest document have engaged in illegal transactions.

Meanwhile the Anti-Corruption Front stated that the maintaining offshore accounts by Sri Lankans is not illegal according to the domestic law but such account holders should disclose their information to the Central Bank of Sri Lanka.

The Organization also demands the government take necessary action to recover the foreign exchange that has been illegally drained out of the country and charge the due tax from the relevant individuals and other entities. 

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