Turnbull turns up in Panama papers
Prime Minister Malcolm Turnbull’s name has turned up in the Panama Papers database.
The giant mound of information stolen from Virgin Islands-based law firm Mossack Fonseca has been made available in an online, searchable form.
The International Consortium of Investigative Journalists (ICIJ) says it has not published the totality of the leak, and it is not disclosing raw documents or personal information en masse.
The database does contain a great deal of information about company owners, proxies and intermediaries in secrecy jurisdictions, but it does not disclose specific bank accounts, email exchanges and financial transactions contained in the documents.
One of millions of company documents in the leaks show Mr Turnbull was the director of a company called Star Technology Systems Limited in the 1990s, according to Fairfax media.
The documents relating to Star Techology have not yet been added to the online database, and so have only been seen by journalists given access by the ICIJ.
Mr Turnbull's business partner, former NSW premier Neville Wran, is reportedly on the register as well.
Star Technology was a subsidiary of Star Mining NL; an Australian listed company that at one point tried to develop a $20 billion Siberian gold mine called Sukhoi Log.
The company was incorporated by Mossack Fonseca, but there is no suggestion of any impropriety by either man.
Mr Turnbull resigned from the company over 20 years ago, and now says there is “no suggestion of any impropriety whatsoever”.
It is true that much of Mossack Fonseca’s work was entirely legal, and there is certainly no suggestion of any wrongdoing by either Mr Turnbull or Mr Wran in this instance, but it is not a good look.
“There is nothing new there,” Turnbull said.
“The company concerned was a wholly owned subsidiary of a public listed Australian company.
“The involvement is very, very well known.
“The company of which Neville Wran and I were directors was an Australian listed company and had it made any profits — which it did not regrettably — it certainly would have paid tax in Australia, but obviously you haven't studied the accounts of the company concerned.”
Cabinet Secretary Arthur Sinodinos says the media is just “flogging a dead horse”, and a newspaper that runs Mossack Fonseca stories risks becoming little more than a “down-market tabloid”.