Renowned higher education institutions like the Oxford University and the University of Cambridge are also well-off in the offshore company to raise profits by tax evasion. This information was revealed from the leaked paradis paper scandal document.
It is found in the document that almost two of the world's best universities and nearly half of the Oxbridge colleges have invested millions of pounds in the offshore fund. Among them, there is an investment project jointly organized for oil exploration and development of excavation in deep sea.
In the Cayman Islands, known as one of the world's largest taxis, there are significant investments in the private equity partnerships of several hundred million dollars, both universities Corporations known as 'Blocker' have been used as the investment route. These investments are made on the basis of partnership with a United States Delaware based fund.
In the leaked document, in 2006, the Oxford University spent $ 34 million on the Kollar International owned by the privately owned company of Garnes Island near the French coast. The university authorities have invested this money in two separate funds. The funds come from the colleges themselves and colleges under these funds. Cambridge University has invested 17 million dollars in the same project.
Thus, Namdemi invested two universities in this way, asking questions about their morality, Professor Prem Shikha, Emeritus of the Department of Accounting, University of Essex. He said all the Cayman companies offer privacy and tax evasion. There is nothing out there. It is not a place where universities have the chance to become active in science, research or knowledge.