May 25, 2018

Panama Papers: Arron Banks secrets revealed

The network of offshore companies linked to the man who financed Britain’s campaign to quit the European Union has been revealed in previously unpublished documents from the Panama Papers.

The British Virgin Islands and Gibraltar emerge as key locations in the financial affairs of Arron Banks, who spent £7.5m funding Nigel Farage’s Leave.EU campaign group ahead of the Brexit referendum on 23 June. New details of Banks’s financial dealings are contained in the massive leaked database of the world’s fourth biggest offshore law firm, Mossack Fonseca, which has revealed the myriad ways in which the rich can exploit secretive offshore tax regimes.

Banks is a close friend of the Ukip leader, revealing last month that the two men went “skinny-dipping” in Bournemouth to celebrate Farage’s short-lived retirement from heading the party. Banks has also been at Farage’s side in America, where he has been supporting Donald Trump’s presidential campaign.

The Panama Papers show that Banks is a shareholder of PRI Holdings Limited, which Panamanian-based Mossack Fonseca set up as an offshore company in 2013. Read more 

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