With the Swedish House Mafia’s return seemingly only just around the corner, the controversy of them being named in the Pandora Papers leak could not have come at a worse time.
The Swedish trio is one of those named in the papers that expose a long list of figures who have used offshore havens for some of their financial deals.
A list of figures was posted by the International Consortium of Investigative Journalists (ICIJ). The papers have revealed financial secrets from many high profile individuals from current and former world leaders, politicians and various public officials and celebrities from 91 different countries.
The ICIJ stated: “The leaked records reveal that many of the power players who could help bring an end to the offshore system instead benefit from it – stashing assets in covert companies and trusts while their governments do little to slow a global stream of illicit money that enriches criminals and impoverishes nations.”
They further detail how the Swedish House Mafia allegedly created a company in the British Virgin Islands. The electronic music group have used the British Virgin Islands as a tax haven since 2014.
The ownership of some of their most renowned records such as “Don’t You Worry Child” and “Save The World” were registered to the tax haven along with the registration of their logo and name. They were registered under the name SHM Holdings LTD from 2009.
It meant some of their biggest hits fell under the tax rules of the British Virgin Islands when they should have been registered in Sweden, allowing them to collect large sums of money.
The full report is available here.