November 5, 2017 3:38 pm

Queen Elizabeth II has $13M in investments in offshore tax havens: documents

Britain's Queen Elizabeth celebrates her 91st birthday, April 21, 2017.

Peter Nicholls/Pool File via AP
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LONDON – Newly leaked papers reveal that Britain’s Queen Elizabeth II has invested some of her private money in offshore tax havens.

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According to documents obtained by the International Consortium of Journalists, the queen’s investment managers placed roughly 10 million pounds ($13 million) in offshore portfolios in the Cayman Islands and Bermuda.

The investments were made by the Duchy of Lancaster, which handles the queen’s finances. There is no suggestion the investments are illegal.

READ MORE: Leaked ‘Paradise Papers’ show alleged financial dealings of Canadian, U.S. politicians, Queen

The documents about Elizabeth’s financial holdings are part of a tranche of some 13.4 million records of offshore accounts leaked to German newspaper Suddeutsche Zeitung and shared with the International Consortium of Journalists and a network of more than 380 journalists in 67 countries.

The queen has vast financial assets, including real estate, works of art and jewelry.

© 2017 The Canadian Press

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