Several Formula 1 personalities have been implicated in a huge new leak of secret and dubious offshore tax arrangements among some of the world’s wealthiest elites.
Known as the Pandora Papers, it is believed to be the largest leak of offshore financial data, with press reports revealing that Aston Martin brand and F1 team owner, billionaire Lawrence Stroll is involved.
1997 world champion Jacques Villeneuve is also among the millions of documents leaked to the International Consortium of Investigative Journalists and shared with hundreds of journalists and agencies around the world.
CBC and the Toronto Star report that Stroll, whose son Lance drives for his UK-based F1 team, has a 15% stake in a British Virgin Islands company called Superwit.
Superwit is said to be managed by a Stroll family trust called the Polo Trust, which is registered in another tax haven in Liechtenstein.
As for Villeneuve, who is now a commentator for French television, he is said to have received his F1 salaries and sponsorship via tax havens to minimise his taxes.
La Sexta and El Pais revealed that former Renault F1 boss Flavio Briatore and Bernie Ecclestone, the former F1 supremo, were also involved.