Panama: Top Arms Dealer, Son Linked to Several New Offshore Firms

Bhanu Choudharie is the director of two British Virgin Island companies since 2002.

Mossack Fonseca, the firm named in the Panama paper leaks, has denied association with most of the names mentioned in the papers. (Photo: The Quint)

In a new turn in the Panama Papers investigation, records of Mossack Fonseca, the law firm whose records were mined for the investigation, have revealed links of Bhanu Choudharie to two British Virgin Island companies since 2002.

Bhanu is the director in these two companies. Not just this, he is also the director and shareholder in two Seychelles firms formed in 2007.

It is to be noted that Bhanu is the son of Sudhir Choudharie, beneficiary of the Panamian foundation set up in 2004.

Sudhir moved to London in 2006 soon after his name surfaced in the CBI probes in the Barak missile and 130-mm field guns deal.

Sudhir and Bhanu are both UK citizens currently.

The juicy ‘Panama Papers’ from Fonseca, has made certain new revelations. (Photo: iStockphoto)

The records of Mossack Fonseca also reveal that Bhanu and his younger brother Dhairya are equal beneficiaries of Stellar International Art Foundation, originally the Panamian foundation.

The Stellar International Art Foundation owns collections of renowned artists like MF Hussain, Picasso and Anish Kapoor among others.

(Read the full report in The Indian Express)