EU slammed for not knowing of key official’s offshore firm

The European Union’s executive body was accused Thursday of failing to properly check the business interests of its top officials after leaked documents showed its former competition chief was a director an offshore company, which potentially created conflicts of interest.
Neelie Kroes, who led the European Commission’s powerful anti-trust unit between 2004 and 2010, was one of the most high-profile names that emerged in a cache of documents of the Bahamas’ corporate registry leaked Wednesday by the International Consortium of Investigative Journalists and media partners.
The leak revealed the names of directors and owners of more than 175,000 Bahamian companies, trusts and foundations, ranging from prime ministers and princes to convicted felons. The disclosures have raised a chorus of criticism, and follow the international uproar over the leak of the so-called “Panama Papers” earlier this year that revealed details on offshore accounts that helped foreigners shelter their wealth.

Source: Arab News