Strauss-Kahn Named in Pandora Papers Investigation

 French authorities are investigating former International Monetary Fund (IMF) chief Dominique Strauss-Kahn over his alleged involvement in tax fraud and money laundering.

The investigation comes as a result of revelations made in the Pandora Papers, a collection of 12 million leaked documents from 14 offshore financial service companies that revealed how over 300 politicians and officials used shell companies in secrecy jurisdictions to evade taxes or protect their wealth from authorities and public scrutiny. Strauss-Kahn is suspected of using a Moroccan company, Parnasse International Sarlau, to receive millions of dollars in consulting fees from clients such as the Russian state-owned oil company Rosneft and Chinese aviation conglomerate HNA Group, while avoiding paying taxes on much of the income.

After the tax exemptions for Parnasse International Sarlau expired, Strauss-Kahn established another consulting firm, Parnasse Global Ltd, in the United Arab Emirates in 2018. The company, which focused on "security technology for private companies" in the Persian Gulf region, was incorporated in Ras Al-Khaimah at the request of a client that needed to domicile its contracts in the region, according to Strauss-Kahn's representatives. Strauss-Kahn's lawyer has stated that the former finance minister is cooperating with authorities and has provided documents to the tax authorities. The French investigation into Strauss-Kahn is part of a larger inquiry targeting 200 individuals named in the Pandora Papers.

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