TB Joshua, the founder of the Synagogue Church of All Nation (SCOAN) has been implicated in the massive data leak of Panamanian law firm, Mossack Fonseca – which specialises in the business of creating shell companies for influential personalities.
Mossack Fonseca, which has dozens of offices all over the world, sells its shell firms in cities such as Zurich, London, and Hong Kong – in some instances at bargain prices.
The investigation into the activities of Mossack Fonseca was carried out by the International Consortium of Investigative Journalists, German newspaper Süddeutsche Zeitung and more than 100 other news organizations around the world.
Clients of Mossack Fonseca can buy an anonymous company for as little as USD 1,000, but at this price it is just an empty shell.
However, for an extra fee, the firm provides a sham director and, if desired, conceals the company’s true shareholder.
The result is an offshore company whose true purpose and ownership structure is indecipherable from the outside. Mossack Fonseca has founded, sold, and managed thousands of companies.
The leaked documents provide a detailed view of how Mossack Fonseca routinely accepts to engage in business activities that potentially violate sanctions, in addition to aiding and abetting tax evasion and money laundering.
The massive document leak and investigation has so far implicated more than 128 politicians around the world, including the king of Saudi Arabia and the children of the president of Azerbaijan.
One of such prominent figures is TB Joshua and his wife, Evelyn.
According to Premium Times, the pastor and his wife own Chillon Consultancy Limited, a company incorporated on June 20, 2006 at the British Virgin Island (BVI).
Both of them own one ordinary share each, in spite of the fact that the company is authorized to issue a maximum ‘50,000 no par value Shares of a single class.’
The shell company, with registration number 1033675, has no physical presence in Tortola, which is regarded as the largest and most inhabited island at the British Virgin Island.
The report further states that Chillon Consultancy Limited makes use of the office of its registered agent, Mossack Fonseca – Akara Bldg., 24 De Castro Street, Wickhams Cay 1, Road Town, Tortola.