Panama papers expose: Family denies alleged Lionel Messi involvement in tax scheme

April 5, 2016

Barcelona, Apr 5: Barcelona forward Lionel Messi`s family have denied Spanish media reports that arose following the leak of the `Panama papers` that said he was involved in a tax evasion scheme.

messiGovernments across the world began investigating possible financial wrongdoing by the rich and powerful on Monday after a leak of four decades of documents from a Panamanian law firm that specialised in setting up offshore companies.

The so-called `Panama papers` revealed the financial arrangements of global political and public figures.

While holding money in offshore companies is not illegal, Messi, 28, was on Sunday accused by Spanish newspaper El Confidencial of creating a company with the aim of evading tax.

Reuters could not independently confirm this.

His family issued a statement on Monday denying allegations it said were published by various media organisations that Messi had created a corporate structure aimed at "setting up a tax fraud network".

It added: "The Messi family wish to make it clear Lionel Messi has not carried out any of the acts of which he is accused in the stories and that the allegations of him having designed a tax evasion project are false and injurious, as are those relating to the creation of a money laundering network.

"The Panamanian company referred to in said reports is a completely inactive company, which has never had any capital or active current accounts, and which dates from the old corporate structure set up by the Messi family`s previous financial advisors, with the tax implications for Lionel Messi having been settled at the time.

"In light of the above the Messi family has instructed their current legal team ... to look into the prospect of bringing legal action against the media organisations who published the story."

Reuters could not immediately reach Messi`s lawyers.

BARCA BACKING

His club have given Messi`s family their backing.

"Barcelona wishes to express the club trusts the arguments the Messi family have made public and that from the moment the documents linking Leo Messi with `the Panama papers` were made public, Barcelona have shown their support and solidarity to the player and all his family," the European champions said in a statement.

"The club has put all its judicial, fiscal and administrative means at the disposition of the family should they need to clarify their position and repute in this case," the statement added.

A tax fraud case against Messi is to be heard in a Barcelona court between May 31 and June 3 after the World Player of the Year and his father Jorge were accused by the tax office in 2013 of defrauding the Spanish state of 4.2 million euros ($4.5 million) from 2007-09.

Revenue was hidden using shell companies in Uruguay, Belize, Switzerland and the United Kingdom to avoid paying tax, according to the prosecutor`s office.

Reuters was unable to determine if or how this case relates to the details provided in the `Panama papers`.

Last October a Spanish court ordered that Messi and his father stand trial. The state attorney has proposed jail terms of up to 22 months if they are found guilty.

Messi and his father, who has denied the accusations, paid five million euros to the tax authorities as a "corrective" measure after being formally charged in June 2013.

Messi is preparing to play for Barca in Tuesday`s Champions League quarter-final first leg at home to Atletico Madrid.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 19,2020

Jun 19: The BCCI is open to reviewing its sponsorship policy for the next cycle but has no plans to end its association with current IPL title sponsor Vivo as the money coming in from the Chinese company is helping India's cause and not the other way round, board treasurer Arun Dhumal said on Friday. Anti-China sentiments are running high in India following the border clash between the two countries at Galwan valley earlier this week. The first skirmish at the India-China border in more than four decades left at least 20 Indian soldiers dead. Since then, calls have been made to boycott Chinese products.

But Dhumal said Chinese companies sponsoring an Indian event like the IPL only serve his country's interests.

The BCCI gets Rs 440 crore annually from Vivo and the five-year deal ends in 2022.

"When you talk emotionally, you tend to leave the rationale behind. We have to understand the difference between supporting a Chinese company for a Chinese cause or taking help from Chinese company to support India's cause," Dhumal said.

"When we are allowing Chinese companies to sell their products in India, whatever money they are taking from Indian consumer, they are paying part of it to the BCCI (as brand promotion) and the board is paying 42 per cent tax on that money to the Indian government. So, that is supporting India's cause and not China's," he argued.

Oppo, a mobile phone brand like Vivo, was sponsoring the Indian cricket team until September last year when Bengaluru-based educational technology Byju's start-up replaced the Chinese company.

Dhumal said he is all for reducing dependence on Chinese products but as long as its companies are allowed to do business in India, there is no harm in them sponsoring an Indian brand like the IPL.

"If they are not supporting the IPL, they are likely to take that money back to China. If that money is retained here, we should be happy about it. We are supporting our government with that money (by paying taxes on it)."

"If I am giving a contract to a Chinese company to build a cricket stadium, then I am helping the Chinese economy. GCA built the world's largest cricket stadium at Motera and that contract was given to an Indian company (L&T)," he said.

"Cricketing infrastructure worth thousands of crores was created across country and none of the contract was awarded to a Chinese company."

Dhumal went on to say the BCCI is spoilt for choice when it comes to attracting sponsors, whether Indian or Chinese or from any other nation.

"If that Chinese money is coming to support Indian cricket, we should be okay with it. I am all for banning Chinese products as an individual, we are there to support our government but by getting sponsorship from Chinese company, we are helping India's cause."

"We can get sponsorship money from non-Chinese companies also including Indian firms. We can support our players any way but the idea is when they are allowed to sell their products here, it is better that part of money comes back to the Indian economy."

"The BCCI is not giving money to the Chinese, it is attracting on the contrary. We should make decision based on rationale rather than emotion," he added.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 9,2020

Mumbai, Jan 9: Former India all-rounder Irfan Pathan feels that the Men in Blue have the edge over Australia in terms of talent and confidence ahead of the two teams' three-match ODI series starting January 14 in Mumbai.

"In the past that wasn't the case because they were doing really well. We were trying to match that level. I feel that Indian cricket is a notch ahead in terms of talent, in terms of cricket and in terms of confidence," Star Sports expert Irfan Pathan said. "The only thing that will make it equal is the kind of pitches we are going to play in Australia because we do not have experience playing on those hard and bouncy pitches," said Pathan, who recently called time on his international career.

Recounting his favourite memory of playing against Australia, Irfan said, "It all started in Australia for me. The most memorable moment was getting my first wicket and helping India win a Test match in Australia after 21 years. Winning the Test in Perth and being named the Man of the Match is also a favourite memory for me."

Australia have already announced their team for the three-match ODI series with India. The team will be led by Aaron Finch. The other members of the team are Ashton Agar, Alex Carey, Pat Cummins, Peter Handscomb, Josh Hazlewood, Marnus Labuschagne, Kane Richardson, D'Arcy Short, Steve Smith, Mitchell Starc, Ashton Turner, David Warner, and Adam Zampa.

India are yet to announce their team but in all probability, it will be led by Virat Kohli who has been in phenomenal form over the last few years. All three ODIs are day and night affair. While the first match of the series is on January 14 in Mumbai, the second will be played at Rajkot on January 17 followed by the January 19 clash in Bengaluru.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
March 25,2020

Lausanne, Mar 25: The World Archery has hailed as a 'brave decision' the International Olympic Committee (IOC) move to postpone the 2020 Tokyo Olympics until next year due to coronavirus pandemic.

"We commend the conscientious and brave decision taken by Tokyo 2020 and the International Olympic Committee to delay this summer's Games in the face of an unprecedented challenge to humanity," Ugur Erdener, the World Archery president, said in an official statement.

The decision to postpone the Summer Olympics was confirmed by the IOC, on Tuesday, after the organising body for the event and Japan's Prime Minister Shinzo Abe agreed to reschedule the quadrennial event in view of the COVID-19 pandemic.

"This is not an easy situation, especially for the athletes who had been training hard for Tokyo 2020. I hope that everyone understands why this decision has been made and I urge archers around the world to retain hope and reset for this new timetable," he added.

The IOC has, however, said that the original name of Tokyo 2020 will remain intact irrespective of the fact that it will take place next year.

The Tokyo Olympic Games were slated to be held from July 24 to August 9.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.