The Queen has become embroiled in an explosive leak of financial documents laying bare investments in offshore tax havens by the world’s rich and powerful.
A disclosure of 13.4 million documents, dubbed the Paradise Papers, reportedly tie major companies and political figures to secretive overseas arrangements.
Among those said to be named in the tranche of material is former Tory treasurer Lord Ashcroft and US President Donald Trump’s commerce secretary, Wilbur Ross, who is reportedly linked to a Russian firm.
The Duchy of Lancaster, the private estate of the Queen, was found to have millions of pounds invested in offshore arrangements.
Around PS10 million ($A20 million) from the Queen’s private fund was paid into funds in the Cayman Islands and Bermuda between 2004 and 2005, according to reports.
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A small part of the cash was traced to a lender which has previously been criticised for ripping off poor customers.
The Queen voluntarily pays tax on any income she receives from the Duchy.
“We operate a number of investments and a few of these are with overseas funds,” a spokesman for the estate said.
“All of our investments are fully audited and legitimate.”
The Paradise Papers represent the biggest data leak since the Panama Papers release last year and have been analysed by almost 100 media organisations.