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Hundreds of Lebanese companies and individuals  are involved in the scandal of the so-called Panama Papers document leak, al-Liwaa daily reported on Thursday.

The newspaper said the Lebanese entities and individuals mentioned in the documents in the “Panama Papers” leak are 468 companies, 30 customers, 131 beneficiaries and 624 shareholders.

But al-Liwaa did not name any of them.

The scandal surfaced  last week after a worldwide media probe into 11.5 million inside documents from a Panama law firm.

The year-long investigation, published on Sunday, revealed the hidden offshore assets of some 140 political figures, including 12 current or former heads of state, as well as celebrities, sports stars and dozens of billionaires.

The revelations from the International Consortium of Investigative Journalists (ICIJ) have shone a light on the murky world of offshore tax dealings which, though legal, can he used to hide assets, launder the proceeds of crime or conceal politically inconvenient wealth.

Iran and its Lebanese proxy Hezbollah have  also been implicated in the Panama Papers scandal.

 

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