Caribbean Investment Holdings Limited (CIHL), the parent company of Belize Bank on Monday issued a press release to refute allegations made earlier this month by the International Consortium of Investigative Journalists (ICIJ), the group which published the now infamous Panama papers. . The leak covers 40 years of emails, financial records from the Panamanian law firm of Mossack Fonseca, showing how some of the world’s most powerful people have secreted away their money in offshore jurisdictions. The ICIJ claimed that amongst the “Panama Papers” were documents indicating the involvement of a number of subsidiary companies of CIHL including Belize Corporation Services, a subsidiary of Ashcroft’s BCB Holdings, claiming that they “began using Mossack Fonseca to provide shell corporations for its clients in 2006 when Ashcroft was in the U.K House of Lords”. In today’s press release CIHL categorically denied the charges stating that The Belize Bank Limited, Belize Bank International Limited, Belize Corporate Services Limited and Lord Ashcroft have in no way partnered or done business with the Panamanian law firm, Mossack Fonseca. Its states “CIHL’s subsidiary, Belize Corporate Services Limited (BCS) has never used Mossack Fonseca to provide shell corporations for its clients. CIHL’s subsidiary, The Belize Bank Limited, did not establish any company for Jurgen Mossack, Ramón Fonseca and Christopher Zollinger. Specifically, it did not establish M.F. & Co. (Belize) Limited. BCS has never cooperated with M.F. & Co. (Belize) Limited in creating companies and acting as registered agents.” The Company added that ICIJ has recognized its error and has removed those references from its website. Mossack Fonseca worked with at least 33 people and companies blacklisted by Washington because of their business links to Mexican drug lords, terrorist organizations or rogue nations, including North Korea. The firm’s customers include Ponzi schemers, drug kingpins, tax evaders , money launderers, Forbes’ rich list, and film stars. Interestingly, lawfirms from the United Kingdom feature as ‘intermediaries’ for these deals more often than almost any other nation in the 11million secret files leaked from the Panama law firm Mossack Fonseca.