Australian Prime Minister 'named' in Panama Papers

Despite being named in the "Panama Papers", there is no evidence that the Australian Prime Minister has engaged in illegal activities.

ReutersOn May 12, citing sources from the Australian Financial Review (AFR), Australian Prime Minister Malcolm Turnbull was named in the Panama Papers as the former Director of a company in the British Virgin Islands, specializing in gold mining in Siberia.

Australian Prime Minister Malcolm Turnbull. (Photo: Reuters)

Mr Turnbull and former New South Wales Governor Neville Wran were board members of Star Mining NL in 1993, which has a $14.8 billion gold project in Siberia called Sukhoi Log.

Both Mr Turnbull and Mr Wran were subsequently appointed directors of Star Technology Services, a subsidiary of Star Mining in the Virgin Islands. Star Mining is a client of Mossack Fonseca, the law firm at the heart of the Panama Papers scandal.

However, there was no evidence that Mr Turnbull had acted unlawfully and he resigned from both companies in 1995, AFR said.

A spokesman for Prime Minister Turnbull has yet to comment on the information just revealed by AFR.

According toReutersBefore running for President in the July 2015 general election, Mr. Turnbull was an investment banker and a technology entrepreneur./.

According to VOV