The Panama connection: Hong Kong tycoon Li Ka-shing linked with law firm Mossack Fonseca
ABC report says Cheung Kong Infrastructure used law firm to organise subsidiaries in Panama and the British Virgin Islands; it also shows image of billionaire’s Hong Kong identity card
Hong Kong’s richest man, Li Ka-shing, is a client of the law firm at the centre of the Panama Papers scandal, and an image of the tycoon’s Hong Kong identity card was found in the firm’s leaked files, according to a media report.
The leaked data showed that Cheung Kong Infrastructure, the Cheung Kong group’s infrastructure arm, used Panamanian law firm Mossack Fonseca’s Hong Kong office to “organise” a string of related subsidiaries in Panama and the British Virgin Islands, Australian broadcaster ABC reported last week.
In reply to an inquiry by the Post, a spokesman for Cheung Kong Infrastructure said the group fully complied with the law of the countries it operated in.
Hong Kong was busiest office of Panama Papers law firm
The ABC programme reported that Cheung Kong Infrastructure required Mossack Fonseca to provide “the utmost secrecy” for its affairs.
The infrastructure company insisted that its documents be treated “as the high confidence” at the law firm, an alleged internal email obtained by the broadcaster read.
But the news report did not suggest any wrongdoing by the Cheung Kong company, while saying the firm failed to have the light shone on its tax affairs.
