Formal Investigation On Scandalous ICIJ Report Of Offshore Companies

A wide-ranging investigation into possible tax evasion through offshore companies connected to Greek citizens has opened by order of the First Instance Court head prosecutor, Panagiota Fakou. The investigation was ordered following a publication last Thursday by Ta Nea newspaper of a global report by the International Consortium Of Investigative Journalists (ICIJ).

The report, "Secrecy For Sale: Inside The Global Offshore Money Maze" - drawing on 2.5 million secret files and described as perhaps "the largest cross border journalism collaboration in history" - had prompted a comment on the same day by Finance Ministry Secretary General for revenues Haris Theoharis, who said the ministry would examine the evidence and take appropriate action.

Most of the offshore companies of Greek interest included in these secret files are based in the British Virgin Islands in the Caribbean. The report revealed a total of 107 offshore firms owned by Greek interests, of which only 4 were listed in the country's tax registers - as required in the case of companies economically active or having property assets in Greece.

Of the other 103, 18 are associated with individuals who have listed their residence as being beyong the Attica prefecture. But 33 of the 107 list as shareholders or managers individuals who live within prefecture - in Kolonaki, Piraeus, Glyfada and the norther suburbs.

Individuals named are linked with law, shipping, maritime and construction offices, the food and information services, and a dance studio. (AMNA)