Pandora Papers: Ecuador Parliament orders President Lasso to clarify on offshore business

The recent investigative report of the International Consortium of Investigative Journalists (ICIJ), dubbed as the Pandora Papers, has revealed the connection of offshores business with Ecuador President Guillermo Lasso. According to the report of ICIJ, Lasso has established business with 10 offshore corporations and trusts in Panama, Delaware and South Dakota. According to the reports of Sputnik, in a letter dated September 27 to the International Consortium of Investigative Journalists, the Ecuador President had informed the journalist organisation that he had no relationship, control or any kind of association with the trusts mentioned in the Pandora Papers. 

Read the official tweet of Fernando Villavicencio here:

According to Sputnik, the Political Oversight and Control Commission of the National Assembly of Ecuador has directed Lasso to submit documents and information related to the companies, trusts and investments mentioned in the Pandora Papers. Taking to Twitter, Political Oversight and Control Commission of the National Assembly head Fernando Villavicencio said, "In view of the fact that no representative has demanded the National Assembly Inspection to initiate an inquiry into the Pandora Papers, today, I have asked Lasso Guillermo to furnish report on the case. I will examine not only the Pandora Papers but also the links of previous directors listed on in the Panama Papers."

Ecuador President accepts connection but declares properties 'legal'

Further, in a letter attached to the Twitter post, he appealed to the Ecuador President to contribute documented data on whether Lasso had any company, financial or professional connection with the organisations discussed in the Pandora Papers. According to ICIJ, it alleged Ecuador President that the offshore companies related to Lasso were dismissed in 2017 before he became a presidential candidate. On the other hand, Lasso also confirmed his role in the company mentioned in the Pandora Papers and added that any past use of the global companies on his part was legal, reported Sputnik. Further, Lasso reiterated that none of the foreign entities was connected with his government service.

What is Pandora Papers

The stunning leak of Pandora Papers has uncovered the secret owners of over 1,500 properties in the UK, bought using foreign companies. The details featured in the leak of offshore financial documents list the property with an estimated value in excess of £4 billion. As per the reports, the secret owners of British properties include high-profile foreign politicians, other people accused of corruption and the UK’s political donors. 

Image: Twitter/@LassoGuillermo