© Reuters
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From Malibu and Washington to London, the properties of one of the mentioned in Pandora files world leaders make an impression – both because of the number and because of their value.
Jordan’s King Abdullah II has amassed at least 15 properties since coming to power in 1999. His lawyers say there is nothing wrong with using offshore companies in the process.
The problem in the Jordanian case is that the country relies on billions of dollars in aid from a number of countries around the world to sustain its economy. The British alone are worth £ 650 million (€ 761 million) in five years, according to 2019 data.
However, most of the king’s assets were accumulated between 2013 and 2019. In his country, Abdullah pursued austerity policies and raised taxes to deal with the coronavirus crisis. In 2020, authorities launched a repressive campaign to prevent Jordanians from sending money abroad.
Lawyers: The king bought the property with personal money
In California alone, King Abdullah II has spent $ 68 million on three rock mansions, one of which is undergoing renovations that will make it twice as large, and another will have a new swimming pool. One of the houses has seven bedrooms and overlooks the Pacific coast, in an area where Anthony Hopkins, Julia Roberts, Gwyneth Paltrow and Barbra Streisand lived. And this, as well as many other transactions from the Pandora files, takes place through a company registered in the British Virgin Islands.
Between 2012 and 2014 alone, the monarch bought four properties in Georgetown, an expensive area of the capital, Washington, for $ 16 million. It is possible that the deals for 16 million are related to the heir to the throne, his son Hussein, who was studying at Georgetown University at the time.
BBC notesthat the King of Jordan managed to hide his property because he used offshore companies; their creators were careful not to identify it, as in one of the internal documents it was called “You know who”.
According to a Middle East analyst quoted by the media, the news could have an effect in Jordan, as it is “very, very difficult” for Jordanians to get even the most ordinary home and a good job. “To throw in the face of the Jordanians the fact that he (King Abdullah II – ed.) Just poured money abroad all the time? It will look very bad.”
The king’s lawyers explain that he did nothing wrong, as all the property was bought with his personal funds, which he also uses to finance projects for Jordanians. The goal was not to “hide” income, and the use of offshore companies is common practice, they continue.
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