37 persons affiliated with Armenia are in "Panama offshore" lists

The updated list of the "Panamanian offshore companies" contains 37 individuals and legal entities affiliated with Armenia. This indicates a lack of state control in the country, says Vardan Bostanjyan, an economist and a former MP.

The "Caucasian Knot" has reported that on April 3, the International Consortium for Investigative Journalism (ICIJ) released an investigation report, based on the documents of the Panamanian law firm “Mossack Fonseca”, which presented data on offshore companies owned by politicians from different countries.

In the evening on May 9, the ICIJ’s website offshoreleaks.icij.org opened access to the expanded database, containing information on more than 200,000 offshore companies.

The database contains 37 individuals and legal entities affiliated with Armenia, the "News-Armenia" Agency reports.

The presence of these individuals and legal entities on the "Panama offshore" list indicates the lack of control, the respective levers and approaches inherent in efficient states, said Vardan Bostanjyan.

"This means that these persons managed to bring significant financial amounts out of the country," Vardan Bostanjyan said today during a press conference in Yerevan.

Full text of the article is available on the Russian page of 24/7 Internet agency ‘Caucasian Knot’.