Paradise Papers show investments reportedly connected with Bono, Queen's estate

Savoy hotel

The document was leaked on Sunday and has brought out names of several prominent firms and individuals including Queen Elizabeth II who has offshore accounts in countries that are tax havens.

The investigation, undertaken by the International Consortium of Investigative Journalists (ICIJ) and called the "Paradise Papers", was performed by 382 reporters at nearly 100 media outlets who analyzed more than 13 million tax haven documents covering the period 1950-2016, Efe news reported.

The Queen's finances should fall within the scope of an investigation into the Paradise Papers leak, Jeremy Corbyn has suggested. While there is nothing unlawful about holding money offshore, in many cases the disclosures may be embarrassing.

The Duchy of Lancaster, which holds assets for the British monarch to generate income for her, confirmed in a statement that some of its investments are in overseas accounts.

Suddeutsche Zeitung also alleged that Dover Street further invested in a subsidiary company called Vision Capital Partners VI B LP to buy into two United Kingdom retail chains, one of which was BrightHouse.

Last week the Financial Conduct Authority said BrightHouse had not been a "responsible lender" and ordered the firm to pay £14.8 million back to almost 250,000 customers.

The Duchy says it still holds the Dover Street investment, which is expected to mature in two to three years.

First obtained by the German newspaper Suddeutsche Zeitung, the documents stem from two offshore service providers and company registries from 19 tax havens, the Guardian reports.

A spokesperson for the Duchy of Lancaster said: "We operate a number of investments and a few of these are with overseas funds".

Documents show that in 2005, the Duchy committed to an investment of 7.5 million pounds ($12.7 million Cdn in today's dollars) in the Dover Street fund, payable over time.

Royal officials were adamant on Monday that Her Majesty had no direct involvement in the investments in a Cayman Island fund and they are "not aware of any tax advantages".

The Queen doesn't directly oversee the Duchy's investments, and most of its income, while private, goes toward covering the expenses for her and other royals that aren't covered by public funds through the sovereign grant.

It includes claims that the Queen has £10 million of her personal fortune invested in an offshore tax haven. Per the documents, some of the money was invested in a fund that ended up contributing to BrightHouse, a chain with an alleged history of irresponsible lending, and liquor store chain Threshers, which went belly-up in 2010 after owing £17.5 million in United Kingdom taxes.

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