0:00:04 > 0:00:05Tonight on Panorama...
0:00:07 > 0:00:11..the offshore secrets of the rich and powerful, out in the open.
0:00:12 > 0:00:16Did you, sir, have tens of millions in an offshore trust
0:00:16 > 0:00:19that you secretly controlled? Yes or no, sir?
0:00:19 > 0:00:20Is that yes or no, sir?
0:00:20 > 0:00:26A huge leak of documents reveals the stories they wanted to keep hidden.
0:00:26 > 0:00:29It's a major political explosion.
0:00:31 > 0:00:33There's the senior Trump official
0:00:33 > 0:00:35who does business with the Russians...
0:00:36 > 0:00:40Under the current system, it's easy to get dirty.
0:00:41 > 0:00:42Don't go there, man. Don't go there.
0:00:45 > 0:00:48..questions at the heart of the national game...
0:00:48 > 0:00:51- Is Mr Usmanov the real owner of Everton, sir?- Are you crazy?
0:00:51 > 0:00:53No, sir, cos your cash...
0:00:53 > 0:00:55Then tell me, have you seen a psychiatrist?
0:00:55 > 0:01:00..and we discover even the Queen has offshore secrets.
0:01:00 > 0:01:03We expect higher standards of the Queen
0:01:03 > 0:01:07than investing in tax havens overseas.
0:01:16 > 0:01:19STEEL PAN MUSIC PLAYS
0:01:22 > 0:01:26It's an island paradise. Sunshine and fun.
0:01:28 > 0:01:30Welcome to Bermuda.
0:01:30 > 0:01:32This is a beautiful island in the Atlantic,
0:01:32 > 0:01:36but it's a lot more than just a few pretty beaches.
0:01:36 > 0:01:40This place attracts billions of dollars
0:01:40 > 0:01:41from all across the globe,
0:01:41 > 0:01:44from the super-rich and big business.
0:01:48 > 0:01:50Bermuda is a tax haven.
0:01:52 > 0:01:55It offers two things to the rich and powerful -
0:01:55 > 0:01:580% tax rates and secrecy.
0:02:00 > 0:02:02These places are selling secrecy,
0:02:02 > 0:02:05they're selling facilities for handling dirty money
0:02:05 > 0:02:07and, you know, a big part of the game is hiding.
0:02:15 > 0:02:18But now that secrecy has been breached.
0:02:18 > 0:02:22Appleby is a legal firm that sells offshore services.
0:02:24 > 0:02:277 million of their documents have been leaked.
0:02:32 > 0:02:35WHISPERING: So that's the head office.
0:02:36 > 0:02:39You have to be very careful at this stage of the investigation...
0:02:40 > 0:02:44..because Appleby don't know that we have their data.
0:03:02 > 0:03:06We have been working on the documents for the past year.
0:03:08 > 0:03:12This March, we were invited to a secret meeting in Munich.
0:03:13 > 0:03:18We don't talk about what we're doing. Most of you know this...
0:03:18 > 0:03:20The documents were leaked
0:03:20 > 0:03:23to the German newspaper Suddeutsche Zeitung.
0:03:23 > 0:03:29But we don't talk to our friends, to our families, to our colleagues.
0:03:30 > 0:03:32They are sharing the documents
0:03:32 > 0:03:37with the International Consortium Of Investigative Journalists.
0:03:37 > 0:03:40In the UK, that's Panorama and the Guardian.
0:03:42 > 0:03:45The more journalists are looking at the information,
0:03:45 > 0:03:46the more stories that emerge.
0:03:46 > 0:03:48It's got to be very interesting to the public
0:03:48 > 0:03:50because this is a kind of information
0:03:50 > 0:03:51that's never come out before.
0:03:56 > 0:04:00The leak has been called the Paradise Papers.
0:04:03 > 0:04:07Secret contracts, agreements and deals
0:04:07 > 0:04:09that we were never supposed to see.
0:04:12 > 0:04:17Over the next two nights, Panorama will show you the hidden stories.
0:04:28 > 0:04:33The Paradise Papers contain some of the biggest names in Britain.
0:04:35 > 0:04:38Some at the very heart of the establishment.
0:04:40 > 0:04:42Including one who lives here.
0:04:44 > 0:04:47Our very own Queen is investing offshore.
0:04:51 > 0:04:55The Queen's investments are handled by the Duchy of Lancaster.
0:04:55 > 0:04:56Now, because of the files,
0:04:56 > 0:04:59we can see exactly where some of that money was going.
0:04:59 > 0:05:04They reveal millions of pounds of secret offshore investments.
0:05:08 > 0:05:12It's £10 million in tax havens.
0:05:12 > 0:05:17Perfectly legal and no suggestion the Duchy's avoiding tax.
0:05:17 > 0:05:21But should the monarch's cash really be offshore -
0:05:21 > 0:05:26a place of lax regulation, low tax and secrecy?
0:05:28 > 0:05:30If the money has been invested in a tax haven,
0:05:30 > 0:05:33I would have thought it would be extremely embarrassing
0:05:33 > 0:05:35for the Queen and the Royal family.
0:05:36 > 0:05:38We expect higher standards of the Queen,
0:05:38 > 0:05:41in terms of where the investments are located.
0:05:41 > 0:05:43MUSIC: God Save The Queen
0:05:43 > 0:05:48Half of the 10 million was invested in the Cayman Islands,
0:05:48 > 0:05:51a tax haven where the Queen is head of state.
0:05:52 > 0:05:55Now, we can't see where all the money went,
0:05:55 > 0:05:58but the documents show the Duchy invested
0:05:58 > 0:06:00in medical and technology companies,
0:06:00 > 0:06:05and two British high street retailers.
0:06:05 > 0:06:08One was the off-licence chain, Thresher -
0:06:08 > 0:06:13it went bust, owing £17 million to the taxman.
0:06:13 > 0:06:15The other was a very small amount
0:06:15 > 0:06:18in the rent-to-buy retailer, BrightHouse.
0:06:18 > 0:06:19Two weeks ago,
0:06:19 > 0:06:24it was fined nearly £15 million for irresponsible lending.
0:06:29 > 0:06:30She's in.
0:06:31 > 0:06:34Now, the Duchy didn't give us a figure for Threshers,
0:06:34 > 0:06:37but said its investment in BrightHouse
0:06:37 > 0:06:41currently equates to £3,208.
0:06:41 > 0:06:42It said...
0:06:53 > 0:06:57It's so obvious that if you're looking after
0:06:57 > 0:06:59the money of the monarchy,
0:06:59 > 0:07:02you've got to be actually cleaner than clean.
0:07:02 > 0:07:06And you must never go near the dirty world
0:07:06 > 0:07:09of money-laundering, tax avoidance, tax evasion.
0:07:17 > 0:07:20There's a lot more about the British establishment
0:07:20 > 0:07:21in the Paradise Papers.
0:07:23 > 0:07:27I, Michael, Lord Ashcroft, do swear by Almighty God
0:07:27 > 0:07:29that I will be faithful and bear true allegiance...
0:07:29 > 0:07:32Lord Ashcroft has given more than £10 million
0:07:32 > 0:07:35to the Conservative Party.
0:07:35 > 0:07:36..so help me God.
0:07:36 > 0:07:40And the billionaire was also the party's treasurer
0:07:40 > 0:07:42and its deputy chairman.
0:07:42 > 0:07:44For the last 20 years,
0:07:44 > 0:07:48Lord Ashcroft has been one of the most significant donors
0:07:48 > 0:07:50to the Conservative Party.
0:07:50 > 0:07:54He's also been very important organisationally.
0:07:54 > 0:07:55He's hugely significant.
0:07:56 > 0:08:02But our documents reveal the scale of Lord Ashcroft's tax avoidance,
0:08:02 > 0:08:08how he ignored financial rules and repeatedly misled the public.
0:08:08 > 0:08:10Evidence from the papers could leave him
0:08:10 > 0:08:14facing a tax bill of tens of millions.
0:08:14 > 0:08:16BBC NEWS THEME PLAYS
0:08:16 > 0:08:21Lord Ashcroft's tax status became a political scandal in 2010.
0:08:23 > 0:08:26- HUW EDWARDS:- Lord Ashcroft, deputy chairman of the Conservative Party -
0:08:26 > 0:08:30he's confirmed that he doesn't pay tax in the UK
0:08:30 > 0:08:31on most of his foreign earnings.
0:08:31 > 0:08:36It went on for ten years while he was sitting in the House of Lords.
0:08:38 > 0:08:41Our documents show, for the first time,
0:08:41 > 0:08:45how much cash Lord Ashcroft was receiving in those years.
0:08:47 > 0:08:49Look at the payments!
0:08:49 > 0:08:51The money kept coming.
0:08:52 > 0:08:56They total around 200 million.
0:08:58 > 0:09:01And Lord Ashcroft didn't have to pay a penny in tax.
0:09:04 > 0:09:07You can be an offshore financier, you can live a meaningless life
0:09:07 > 0:09:11in some ghastly tax haven and have nothing to do with Britain.
0:09:11 > 0:09:15But what he appears to be doing is having the best of both worlds,
0:09:15 > 0:09:18being an offshore person not paying British tax
0:09:18 > 0:09:20and then dabbling, mischievously,
0:09:20 > 0:09:24and having great influence in British politics.
0:09:31 > 0:09:35All those payments came from something Lord Ashcroft set up
0:09:35 > 0:09:37called the Punta Gorda Trust,
0:09:37 > 0:09:41which has assets worth almost half a billion.
0:09:41 > 0:09:42Trusts have, over time,
0:09:42 > 0:09:47become ways for rich people to put their assets inside a legal fortress
0:09:47 > 0:09:50and still be able to benefit from them and control them.
0:09:56 > 0:10:01The trust was run from Appleby's office here in Bermuda.
0:10:01 > 0:10:06Lord Ashcroft could legally avoid tax on payments from the trust
0:10:06 > 0:10:08so long as he followed the rules.
0:10:10 > 0:10:14And the most important rule is that independent trustees
0:10:14 > 0:10:15oversee the trust.
0:10:17 > 0:10:21But the documents show the trustees were worried about how
0:10:21 > 0:10:23Lord Ashcroft was behaving.
0:10:25 > 0:10:28As you go through the e-mails, you do get this rising sense
0:10:28 > 0:10:32of frustration that Lord Ashcroft is not playing by the rules.
0:10:32 > 0:10:34This one puts it pretty simply.
0:10:43 > 0:10:48The trustees even issue a warning for Lord Ashcroft. It says...
0:10:59 > 0:11:03That looks like Lord Ashcroft controlling the trust
0:11:03 > 0:11:07and expecting the trustees to rubber-stamp his decisions.
0:11:07 > 0:11:09The trustees are worried,
0:11:09 > 0:11:13the trustees are expressing alarm about that. That's a clear red flag.
0:11:13 > 0:11:16On the evidence I've seen, it looks like something that is
0:11:16 > 0:11:19abusive behaviour and an abusive structure.
0:11:20 > 0:11:24If Lord Ashcroft was making the decisions,
0:11:24 > 0:11:26he could face a huge tax bill.
0:11:27 > 0:11:31He's risking undoing those avoided taxes
0:11:31 > 0:11:34and putting himself on the hook for penalties and back taxes
0:11:34 > 0:11:39and what have you by meddling with the trust assets without
0:11:39 > 0:11:43having the trustees sign off the way they're supposed to.
0:11:49 > 0:11:52I've come to the Conservative Party Conference.
0:11:55 > 0:11:58We sent letters to Lord Ashcroft's home and his office,
0:11:58 > 0:12:03but they were sent back to us, unread and unopened, as you can see.
0:12:03 > 0:12:07But we did get an e-mail from his public relations man.
0:12:07 > 0:12:08It's an extraordinary message.
0:12:08 > 0:12:11In it, he says, look, Lord Ashcroft has access to this letter,
0:12:11 > 0:12:13he could read it at any time,
0:12:13 > 0:12:16but he makes it quite clear that this will never happen.
0:12:17 > 0:12:20Lord Ashcroft said he wouldn't respond
0:12:20 > 0:12:23because of the unfair way Panorama had treated him
0:12:23 > 0:12:27in the past. So I tracked him down.
0:12:27 > 0:12:30Lord Ashcroft, hi. I'm Richard Bilton. I work for Panorama, sir.
0:12:30 > 0:12:32Can I grab a quick word with you?
0:12:32 > 0:12:35I've been trying to send you these letters, but you wouldn't take them.
0:12:35 > 0:12:36Sir, could I just have a quick word with you?
0:12:36 > 0:12:39Did you have tens of millions in an offshore trust that
0:12:39 > 0:12:41you secretly controlled, sir?
0:12:41 > 0:12:44Did that mean that you could avoid millions in tax through that trust?
0:12:44 > 0:12:46Lord Ashcroft, why don't you just talk to me?
0:12:46 > 0:12:48It would be great to hear your view.
0:12:48 > 0:12:50It was the Punta Gorda Trust, Lord Ashcroft.
0:12:50 > 0:12:53- Sir, the Punta Gorda Trust... - Dear, dear, dear, dear, dear, dear!
0:12:53 > 0:12:55Dear, dear, dear - is that your response?
0:12:55 > 0:12:56It was the Punta Gorda Trust, sir,
0:12:56 > 0:12:59and so you made some decisions and the trustees...
0:12:59 > 0:13:01We're up to quite a lot of dears now, sir.
0:13:01 > 0:13:05It would be great to know your view. Sir, if you did control that tr...
0:13:05 > 0:13:07I'm really keen to get your view, sir.
0:13:07 > 0:13:11I'm really keen to get your view. Sir, you can't hold the microphone!
0:13:11 > 0:13:14- Just give me your view. This is the way to do it.- Dear, dear, dear!
0:13:14 > 0:13:17Because, do you think, if you did have money in that trust,
0:13:17 > 0:13:21you could, sir, face a big tax bill? Sir, we're going for a walk!
0:13:21 > 0:13:24We're holding hands! This is lovely! This is what I'd hoped for!
0:13:24 > 0:13:27Just the chance to talk to you, sir. Where are we going to end up?
0:13:27 > 0:13:30This is great! Sir, why don't you just stop and answer my questions?
0:13:30 > 0:13:33It will take one minute, sir.
0:13:33 > 0:13:37Did you, sir, have tens of millions in an offshore trust that you
0:13:37 > 0:13:41secretly controlled? Yes or no, sir? Is that yes or no, sir?
0:13:41 > 0:13:43And therefore,
0:13:43 > 0:13:46did you avoid millions by having your money in that trust?
0:13:46 > 0:13:51Did you, sir? Because, if you did, you could face a big tax bill.
0:13:51 > 0:13:53Sir, where are we going? This is amazing!
0:13:53 > 0:13:55We've been walking now for about two minutes.
0:13:55 > 0:13:56Why don't you just give me your view?
0:13:56 > 0:13:59Sir, why don't you just give me your view? We could have been sponsored!
0:13:59 > 0:14:02We've done about a mile and a half!
0:14:02 > 0:14:04Sir, why don't you just tell me your view?
0:14:04 > 0:14:06It would be really nice to get your view. Sir?
0:14:08 > 0:14:10Sir, just give me your view!
0:14:10 > 0:14:14Did you, sir, secretly control a trust in which you had
0:14:14 > 0:14:17tens of millions, therefore avoiding tax, sir?
0:14:17 > 0:14:19Did you do that?
0:14:19 > 0:14:22Did you do that, sir? It would be great to know your...
0:14:22 > 0:14:24Where are we going? This is brilliant!
0:14:24 > 0:14:25I don't know where we're going to end up!
0:14:25 > 0:14:27Dear, dear, dear, dear, dear, dear!
0:14:27 > 0:14:29I'm not going to follow you in there, sir.
0:14:31 > 0:14:32HE LAUGHS
0:14:32 > 0:14:36I've never quite had a chat quite like that.
0:14:36 > 0:14:39So we just want to have a word with Mr Ashcroft.
0:14:39 > 0:14:44He said "Dear, dear, dear" about...I don't know, 200 times.
0:14:46 > 0:14:50Lord Ashcroft's lawyers later said that I had started...
0:14:56 > 0:14:57Lord Ashcroft...
0:15:05 > 0:15:09There's one last Lord Ashcroft revelation.
0:15:09 > 0:15:12After the scandal of 2010,
0:15:12 > 0:15:15he continued to sit in the House of Lords.
0:15:15 > 0:15:19It seemed he'd finally become an ordinary taxpayer for good.
0:15:21 > 0:15:26But this document about his tax status reveals he didn't.
0:15:26 > 0:15:30It says Lord Ashcroft's true domicile is Belize.
0:15:30 > 0:15:34It's legal but, once again, we'd all been misled.
0:15:35 > 0:15:41I think it's very important that people who play a role in our
0:15:41 > 0:15:46public life are straightforward about their dealings.
0:15:48 > 0:15:52I think it's a major political explosion.
0:15:53 > 0:15:56It will raise huge questions about not just the Conservatives,
0:15:56 > 0:15:58also the House of Lords.
0:16:01 > 0:16:07So what about Appleby, the company that oversaw Lord Ashcroft's trust?
0:16:07 > 0:16:08They say...
0:16:11 > 0:16:15..and would play no role in advising on the tax advantages or
0:16:15 > 0:16:18disadvantages of any particular structure.
0:16:31 > 0:16:34It isn't just the British establishment.
0:16:36 > 0:16:41The Paradise Papers also reveal new details about America's
0:16:41 > 0:16:43biggest political scandal.
0:16:45 > 0:16:48This president conspired with agents of the Russian government
0:16:48 > 0:16:49to steal an election!
0:16:49 > 0:16:54You can talk all you want about Russia, which is all fake news.
0:16:54 > 0:16:56And I will tell you right now - zero!
0:16:56 > 0:16:58I've nothing to do with Russia!
0:16:58 > 0:17:00We've discovered that a senior
0:17:00 > 0:17:06member of Trump's Cabinet has been quietly trading with the Russians.
0:17:06 > 0:17:07You know who that is, right?
0:17:10 > 0:17:12He's a billionaire called Wilbur Ross.
0:17:13 > 0:17:16They became close after Donald Trump bought
0:17:16 > 0:17:19a casino in Atlantic City in the '80s.
0:17:23 > 0:17:26Donald Trump gave Michael Jackson a personal tour
0:17:26 > 0:17:29of his 1.2 billion extravaganza.
0:17:31 > 0:17:35The deal pushed Trump to the brink of bankruptcy.
0:17:37 > 0:17:41Wilbur Ross stepped in to save him.
0:17:41 > 0:17:43Wilbur Ross was a key negotiator
0:17:43 > 0:17:44in Donald Trump not having to
0:17:44 > 0:17:48go through bankruptcy and not being swept into the dustbin of history.
0:17:48 > 0:17:50If it hadn't been for Wilbur Ross, Donald Trump would not
0:17:50 > 0:17:52be in the White House.
0:17:52 > 0:17:55- Ah, Wilbur!- How are you, Mr President?- Careful.
0:17:55 > 0:17:57When he became president,
0:17:57 > 0:18:01Trump nominated Ross to be his Commerce Secretary.
0:18:02 > 0:18:06But our documents show a different side to Mr Ross.
0:18:07 > 0:18:11The man in charge of US trade policy
0:18:11 > 0:18:13had dozens of companies in tax havens.
0:18:15 > 0:18:19Appleby, it turns out, helped create and manage some 50 companies
0:18:19 > 0:18:24and partnerships that were connected to Mr Ross' investment firm.
0:18:25 > 0:18:29Wilbur Ross said he'd cut ties with businesses that could
0:18:29 > 0:18:33compromise his new role in the US government.
0:18:33 > 0:18:39Your service has resulted in your divesting yourself
0:18:39 > 0:18:42of literally hundreds of millions of dollars.
0:18:42 > 0:18:45You did it to avoid any conflicts of interest, correct?
0:18:45 > 0:18:46That is correct, sir.
0:18:48 > 0:18:50We don't think that is correct.
0:18:53 > 0:18:57We've discovered that he has a stake in a shipping company
0:18:57 > 0:19:00called Navigator Holdings.
0:19:00 > 0:19:03One of its major clients is Sibur,
0:19:03 > 0:19:06a Russian energy company that has close links to the Kremlin.
0:19:09 > 0:19:12Vladimir Putin's son-in-law is a shareholder.
0:19:12 > 0:19:17Another is Gennady Timchenko, one of Putin's oldest friends.
0:19:19 > 0:19:22Whenever you see a major energy company in particular that is
0:19:22 > 0:19:25controlled by oligarchs, as this one is,
0:19:25 > 0:19:28with such close connections to the Russian state,
0:19:28 > 0:19:31you have to realise that you're doing business not just with
0:19:31 > 0:19:32a private company but, in some sense,
0:19:32 > 0:19:35you're doing business with the government of Russia.
0:19:38 > 0:19:44In 2014, Mr Timchenko was sanctioned by the US government who said his...
0:19:49 > 0:19:54But Mr Ross kept his business ties with Mr Timchenko's company.
0:19:56 > 0:19:58If I were in the business
0:19:58 > 0:20:00of consulting, which I am not,
0:20:00 > 0:20:06I would advise any client who came to me to stay well away from Sibur,
0:20:06 > 0:20:10and you don't want to get known as somebody who plays footsie or
0:20:10 > 0:20:13walks right up to the line with sanctioned individuals.
0:20:13 > 0:20:16If you know anything about the Russians, it's that,
0:20:16 > 0:20:22under the current system, it's easy to get dirty. Don't go there, man.
0:20:22 > 0:20:23Don't go there.
0:20:24 > 0:20:27Thank you. Great job. Thank you, everybody.
0:20:28 > 0:20:32Mr Ross says he never owned a majority of Navigator shares
0:20:32 > 0:20:36and has never met Gennady Timchenko or Putin's son-in-law.
0:20:37 > 0:20:38He points out...
0:20:41 > 0:20:43And he says he's taken steps...
0:20:46 > 0:20:51When you're in a position to profit, even indirectly in this case,
0:20:51 > 0:20:54from a very well-connected Russian firm,
0:20:54 > 0:20:58and you, as the investor, are in charge of US trade policy
0:20:58 > 0:21:00and have a voice in sanctions, anybody
0:21:00 > 0:21:04looking at that might imagine there's a potential conflict there.
0:21:04 > 0:21:05LIFT BELL PINGS
0:21:05 > 0:21:11Coming under pressure from Gueye. And it's Wayne Rooney. Great finish!
0:21:14 > 0:21:19- And 15 years...- Everton-Arsenal from a couple of weeks ago.
0:21:19 > 0:21:23Xhaka with the hit. Oh, what a follow-up!
0:21:23 > 0:21:25A thrilling advert for British football.
0:21:27 > 0:21:31But what we've found in the Paradise Papers raises serious
0:21:31 > 0:21:33questions about our national game.
0:21:35 > 0:21:37What if one man
0:21:37 > 0:21:42and his money were secretly linked to both of these clubs?
0:21:42 > 0:21:44BOOING
0:21:47 > 0:21:49This is Alisher Usmanov,
0:21:49 > 0:21:53another billionaire who's close to Vladimir Putin.
0:21:53 > 0:21:55He's one of Britain's richest men...
0:21:57 > 0:22:02..and owns one of London's most expensive houses
0:22:02 > 0:22:06and 30% of Arsenal, one of Britain's most valuable clubs.
0:22:09 > 0:22:13We begin a new era for Arsenal where we win trophies.
0:22:13 > 0:22:16This is most important for football, winning trophies.
0:22:18 > 0:22:23But we think some of his money may have also ended up in Everton.
0:22:25 > 0:22:27Half-time, and it's 1-1,
0:22:27 > 0:22:30and both sets of fans are desperate for their team to win.
0:22:35 > 0:22:39The story centres on this man and begins a decade ago.
0:22:41 > 0:22:45Farhad Moshiri used to work for Mr Usmanov as an accountant.
0:22:47 > 0:22:51Now he's a tycoon who's just bought Everton.
0:22:51 > 0:22:53So where did his wealth come from?
0:22:54 > 0:22:57Well, the story starts with Mr Usmanov
0:22:57 > 0:23:03and Mr Moshiri buying a joint stake in Arsenal back in 2007.
0:23:03 > 0:23:08But the documents suggest Mr Usmanov paid for the whole stake.
0:23:09 > 0:23:14This one shows his company, Epion Holdings, providing the funds.
0:23:16 > 0:23:20Mr Moshiri's lawyers eventually admitted that was true,
0:23:20 > 0:23:23but say he put his own money into Arsenal later.
0:23:23 > 0:23:25The documents go further.
0:23:27 > 0:23:30They record a gift from Alisher Usmanov to
0:23:30 > 0:23:33Farhad Moshiri for the Arsenal deal.
0:23:36 > 0:23:40That matters because, nearly a decade later, Mr Moshiri
0:23:40 > 0:23:46sold his interest in Arsenal to raise capital to purchase Everton.
0:23:46 > 0:23:51It looks like that capital originally came from Mr Usmanov.
0:23:53 > 0:23:57Right, so, this document shows Mr Moshiri...
0:23:57 > 0:24:01- We showed our evidence to the former head of the FA.- Right.
0:24:01 > 0:24:04"Who will then gift the moneys to Moshiri,
0:24:04 > 0:24:07- "who will in turn invest in the company."- Yeah.
0:24:07 > 0:24:08It'll be interesting to see
0:24:08 > 0:24:13whether that breaks the Premier League rules.
0:24:13 > 0:24:17My instinct is that, if the Premier League knew this,
0:24:17 > 0:24:22they either have done or they would do their own investigation.
0:24:22 > 0:24:26They'd have to be convinced that this was an above-the-board
0:24:26 > 0:24:31transaction, and it wasn't all Mr Usmanov's money.
0:24:31 > 0:24:32There needs to be some questions asked.
0:24:32 > 0:24:36I suspect, as a result of this, the Premier League will want to look
0:24:36 > 0:24:41at the whole relationship between the two men and the two clubs.
0:24:43 > 0:24:49- Kolasinac.- At the Everton-Arsenal game, the great goals keep coming.
0:24:49 > 0:24:51Sanchez going all the way!
0:24:52 > 0:24:57And Everton are being taught a footballing lesson here by Arsenal,
0:24:57 > 0:24:59whose strike ethic...
0:24:59 > 0:25:01But what is going on off the pitch?
0:25:02 > 0:25:05Mr Moshiri's lawyers insist
0:25:05 > 0:25:07he's independently wealthy,
0:25:07 > 0:25:10but he hadn't answered our questions about
0:25:10 > 0:25:13whether his source of wealth was a gift from Mr Usmanov.
0:25:15 > 0:25:16Mr Moshiri?
0:25:17 > 0:25:21Is Mr Usmanov the real owner of Everton, sir? I'm from the BBC.
0:25:21 > 0:25:23- Are you crazy? - No, sir, cos your cash...
0:25:23 > 0:25:26- Have you seen a psychiatrist? - I haven't, sir.
0:25:26 > 0:25:28But your cash, it came from Mr Usmanov, didn't it?
0:25:28 > 0:25:31- It was a gift, initially.- Who?- Mr Usmanov gave you the cash as a gift.
0:25:31 > 0:25:33No, it wasn't a gift. Where did you get this idea?
0:25:33 > 0:25:37- Is that true or not, sir? - It's untrue.- It's untrue?
0:25:37 > 0:25:39It's not a gift.
0:25:39 > 0:25:42But say it came as a gift, say Mr Usmanov gifted you the money,
0:25:42 > 0:25:45which you invested in Arsenal, you then sell your shares in Arsenal...
0:25:45 > 0:25:51- Look, your word is wrong. A gift makes it yours, right?- Right.
0:25:51 > 0:25:57You're saying that did he loan 100 million to you, right?
0:25:57 > 0:25:59Right, he's never lended me anything. It's you, sir...
0:25:59 > 0:26:03- So if it is a loan, you owe the money back to him.- Right.
0:26:03 > 0:26:05- If it's a gift, it's yours. - Which was it, then, sir?
0:26:05 > 0:26:08- Neither of them because I paid for it.- Right.
0:26:08 > 0:26:11So if it's a gift, it's a gift, right?
0:26:11 > 0:26:14If I give you a fiver, whose fiver is it?
0:26:14 > 0:26:17If I give my friend here a fiver, it's his, right?
0:26:17 > 0:26:19But would you be happy that, if the Premier League were able
0:26:19 > 0:26:22to see the way the money went through...
0:26:22 > 0:26:24- They have all the information. - They have that information?
0:26:24 > 0:26:26Instead of asking me, go and ask them.
0:26:26 > 0:26:29- They have every piece of information.- Thank you, sir.
0:26:30 > 0:26:32His club, Everton,
0:26:32 > 0:26:37say details of Mr Moshiri's purchase were approved by the Premier League.
0:26:38 > 0:26:40But we don't think they've seen
0:26:40 > 0:26:45our documents about where the money came from in the first place.
0:26:45 > 0:26:49Mr Moshiri's lawyers later strongly denied he'd received
0:26:49 > 0:26:53a gift from Mr Usmanov, who also denies giving it.
0:26:53 > 0:26:58Mr Moshiri says all the documents that mention a gift are a mistake.
0:27:00 > 0:27:05But this document describes how Mr Usmanov will gift money to him.
0:27:07 > 0:27:11And these public documents seem to show it happening -
0:27:11 > 0:27:1654 million Cypriot pounds, that's 63 million in sterling,
0:27:16 > 0:27:23went from Mr Usmanov to Mr Moshiri's company in March 2008.
0:27:23 > 0:27:27Mr Moshiri claims it had nothing to do with the Arsenal deal and was
0:27:27 > 0:27:32part of an employee incentive scheme, a loan he'd later paid back.
0:27:42 > 0:27:46There's more in the papers that suggests Mr Usmanov could be
0:27:46 > 0:27:48involved with Everton.
0:27:52 > 0:27:56This is the Isle of Man, home to the financial company
0:27:56 > 0:27:59that administered the Everton deal, Bridgewaters.
0:28:01 > 0:28:05Now, one of their responsibilities is to carry out checks,
0:28:05 > 0:28:08due diligence, on clients and their companies.
0:28:12 > 0:28:18But one document from 2011 says Bridgewaters is actually
0:28:18 > 0:28:19owned by Mr Usmanov.
0:28:22 > 0:28:26Here's an e-mail about Mr Usmanov, and it says the client,
0:28:26 > 0:28:27Mr Usmanov...
0:28:33 > 0:28:38If this is true, if Usmanov actually owns the company,
0:28:38 > 0:28:40then it's an outrageous conflict of interest.
0:28:41 > 0:28:47It's like owning the police that is supposed to police you.
0:28:49 > 0:28:54Both Bridgwaters and Mr Usmanov strongly deny it's secretly
0:28:54 > 0:28:56controlled by the billionaire.
0:28:56 > 0:28:58Mr Usmanov's lawyers say...
0:29:11 > 0:29:15But the more we looked for connections between Mr Usmanov
0:29:15 > 0:29:18and Everton, the more we found.
0:29:19 > 0:29:24The company that owns Everton Football Club, Blue Heaven Holdings,
0:29:24 > 0:29:29was set up by Bridgewaters and its registered agent, Bridgewaters too.
0:29:32 > 0:29:35And one of its directors is an employee of...
0:29:37 > 0:29:39..you guessed it, Bridgewaters.
0:29:45 > 0:29:50And the other director...well, he works for Mr Usmanov.
0:29:54 > 0:29:58Tomorrow night, more revelations from the Paradise Papers.
0:29:59 > 0:30:04- The island that changed the law to help tax dodgers.- No comment.
0:30:04 > 0:30:06What do you say to our viewers who pay their tax?
0:30:08 > 0:30:11The millionaires who can live the high life
0:30:11 > 0:30:13because they don't pay tax.
0:30:13 > 0:30:17Why don't you just tell us your side of the story? Why did you do that?
0:30:17 > 0:30:20- Were you dodging tax, sir?- Away!
0:30:20 > 0:30:24And the TV stars on the tax fiddle.
0:30:24 > 0:30:25Can you tell me about your tax dodge?
0:30:25 > 0:30:28You get paid in Mauritius, don't you? What's all that about?