Panama Papers reveal how former UN Secretary General's son made millions of dollars

The son of former UN Secretary General Kofi Annan is among hundreds of celebrities named in a list linked to offshore companies in the Panama Papers scandal that has shocked the world.

Former UN Secretary General Kofi Annan and his son Kojo Annan. Photo: Reuters, AFP

The Panama Papers, a leak of 11.5 million internal documents from the Panamanian law firm Mossack Fonseca, revealed that Kojo Annan bought an apartment in central London for more than $560,000 in today’s exchange rate in 2004. According to RT, Kojo, 42, bought the house through an offshore company based in Samoa, a South Pacific country.

The property is now valued at around $2 million. Documents show the Chelsea address continued to correspond with Mossack Fonseca until 2015.

In addition to being registered as the sole director of the companySapphire Holding Ltd in Samoa, Kojo is also registered as a director of two other companies based in the British Virgin Islands in the Caribbean.

Responding to the allegations, Kojo’s lawyer denied any wrongdoing. He told Modern Ghana newspaper that Kojo’s companies “operate within the relevant laws and regulations of the jurisdiction”.

Kojo's father, Kofi Annan, served as secretary-general of the United Nations from 1997 to 2006. Although he was never prosecuted, Kojo was accused of corruption and helping his Swiss-based employer, Cotecna, secure a $10 million-a-year contract through the UN's oil-for-food program while his father was in office.

However, a 2005 report by a UN-appointed committee found no evidence that Kojo used his connections to reach the deal.

Kojo again caused controversy in 2006 when it was reported that he bought a Mercedes, avoiding paying about $20,000 in customs duties when shipping the car from Geneva to Ghana, where his family lived, by using his father's name.

According to VNE