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David Cameron says he and his wife paid UK income tax on 5,000 shares in a Panamanian-based trust
Cameron wasn't yet Prime Minister when he sold the holdings in 2010
Journalism group says documents it acquired show Panamanian law firm helped set up shell companies
CNN
—
David Cameron and his wife, Samantha, profited from shares they had in a Panamanian-based trust set up by his late father, the British Prime Minister told CNN affiliate ITV News in an exclusive interview.
Cameron, who told ITV he has nothing to hide, said he and his wife had 5,000 shares of Blairmore Investment Trust that they sold in January 2010 for about ￡30,000 (about $42,200 in U.S. dollars at current exchange rates).
“I paid (UK) income tax on the dividends. There was a profit on it, but it was less than the capital gains tax allowance, so I didn’t pay capital gains tax,” he told the British broadcaster.
UK Prime Minister David Cameron —
After it was revealed that David Cameron's father, Ian, had set up a Panamanian-based trust, the UK Prime Minister told broadcaster ITV he and his wife had profited from shares held in the trust, but denied he had attempted to conceal it or avoid taxes.
Dean Mouhtaropoulos/Getty Images Europe/Getty Images
FIFA President Gianni Infantino —
Swiss police raided UEFA headquarters after the Panama Papers allegedly revealed a controversial television rights contract with Gianni Infantino's signature on it.
Iceland Prime Minister Sigmundur David Gunnlaugsson —
Icelandic Prime Minister Sigmundur David Gunnlaugsson announced he was stepping down amid mounting protests and calls for his resignation after leaked documents from a Panamanian law firm revealed his links to an offshore company.
The Kremlin accused Western media of "Putinophobia" after the Panama Papers revealed an alleged clandestine network that connects associates of Russian President Vladimir Putin to hidden wealth in secret offshore companies.
Beijing began censoring all online searches related to the Panama Papers after President Xi Jinping and other top officials were mentioned in the reports.
According to the ICIJ, in August 2014, as Russian troops were rolling into Eastern Ukraine, Poroshenko became the sole shareholder of Prime Asset Partners Limited, which Mossack Fonseca set up in the British Virgin Islands.
Three of Prime Minister Nawaz Sharif's children were named in the documents as linked to offshore companies that owned properties in London, according to local news organizations. Some opposition leaders called for Sharif to be investigated regarding his family's "wealth stashed abroad."
Leading European football club Barcelona has promised to give its star player Lionel Messi legal and financial support, as the Argentine international considers whether to sue after he was linked to the Panama Papers leak.
There have been reports that, according to the International Consortium of Investigative Journalists, Cameron’s father, Ian, used the services of the Mossack Fonseca law firm to avoid having his Blairmore Holdings Inc. pay any UK taxes.
When asked Monday about the reports, the Prime Minister said, “I own no shares, no offshore trusts, no offshore funds, nothing like that. And so that, I think, is a very clear description.”
The ICIJ reported it analyzed documents that show the firm helped establish secret shell companies and offshore accounts for global power players.
Known as the Panama Papers, the more than 11 million documents reference 12 current or former world leaders, as well as 128 other politicians and public officials.
Cameron became Prime Minister in May 2010 after he and his wife sold their holdings.
He told ITV: “I want to be as clear as I can about the past, about the present, about the future, because frankly I don’t have anything to hide.”
An anonymous source gave documents to German newspaper Suddeutsche Zeitung, which shared them with ICIJ. Other media organizations that reported on the documents include the BBC, The Guardian and McClatchy.
The anonymous source “claimed to be concerned about what he or she saw in the documents. Of course, the documents started as a trickle but turned into a flood, a torrent in the end,” said Gerard Ryle, the ICIJ’s director.
“The person claimed that their life was in danger if they ever became known as the source of this material because of course there are so many powerful people that are being revealed here.”
CNN is unable to verify the reports independently and has sought comment from the most prominent figures mentioned. They are spread across Europe, Asia, the Middle East, Africa and the Americas.
CNN’s Alexander Felton, Don Melvin and Joshua Berlinger contributed to this report.
