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		</div><p>The president of Ukraine has become the latest prominent politician to deny wrongdoing after his name was linked to secretive offshore accounts arranged by a Panama law firm.</p>
<p>The revelations have raised suspicion that such offshore entities were set up to avoid taxes, but Petro Poroshenko denied that was the purpose in his case. </p>
<p>Rather, he said, it was necessary to create an offshore holding company to put his sweet business in a blind trust when he became president of Ukraine in 2014.</p>
<p>&#8220;This is absolutely normal procedure, and I think this is the main difference from the naming of all the political figures in this Panama list,&#8221; Mr Poroshenko said in Tokyo, where he was meeting with Japan&#8217;s prime minister Shinzo Abe and business leaders.</p>
<p>&#8220;If we have anything to be investigated, I am happy to do that,&#8221; he said. &#8220;But, this is absolutely transparent from the very beginning. No hidden account, no associated management, no nothing.&#8221;</p>
<p>Reports, based on a trove of confidential documents from Panama-based law firm Mossack Fonseca, have purported to expose the offshore arrangements of public officials, businesspeople and celebrities around the world.</p>
<p>Iceland&#8217;s prime minister became the first casualty of the affair Tuesday, stepping down two days after a video was aired showing him breaking off a television interview over questions about his family&#8217;s offshore dealings.</p>
<p>Sigmundur David Gunnlaugsson had faced opposition calls to resign over revelations he had used a shell company to shelter large sums while Iceland&#8217;s economy was in crisis.</p>
<p><a href="http://londonglossy.com/wp-content/uploads/2016/04/image-14.jpg" rel="attachment wp-att-88597"><img src="http://londonglossy.com/wp-content/uploads/2016/04/image-14.jpg" alt="image" width="600" height="767" class="aligncenter size-full wp-image-88597" /></a></p>
<p>The so-called Panama Papers reports, which were coordinated by the Washington-based International Consortium of Investigative Journalists, have implicated a diverse range of figures, including Bollywood actor Amitabh Bachchan.</p>
<p>Bachchan denied any connection to four shipping companies registered in tax havens following reports by The Indian Express newspaper. &#8220;It is possible that my name has been misused,&#8221; Bachhan tweeted late on Tuesday.</p>
<p>&#8220;I have paid all my taxes including on monies spent by me overseas,&#8221; he said. &#8220;Monies that I have remitted overseas have been in compliance with law, including remittances through LRS (Liberalised Remittance Scheme) after paying Indian taxes. </p>
<p>In any event the news report in the Indian Express doesn&#8217;t even suggest any illegality on my part.&#8221;</p>
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